Thursday, February 22, 2024

Quick Take

Arkreen Network’s integration into the peaq ecosystem is set to boost sustainable energy projects. Arkreen’s Web3-powered infrastructure will enable certification of green energy data assets, offering monetization opportunities for small-scale energy resources. This partnership aligns with peaq’s commitment to sustainability and paves the way for innovative solutions in the renewable energy sector.

As the world’s commitment to sustainability gaining momentum, so does the use of renewable energy sources. While large green energy corporations continue to thrive, smaller entities such as individual solar panel owners and small businesses engaged in green energy storage often face underutilization challenges. The core obstacle lies in effectively monitoring the capacity and optimizing the use of these green energy resources, necessitating a common data space.

Arkreen Network innovative approach addresses this challenge by empowering green energy businesses and households to equip their energy assets with specialized devices that monitor energy activity and issue renewable energy certificates. These certificates serve as tradable tokens confirming the production and supply of a specified quantity of green energy. Arkreen functions as the critical energy data infrastructure that facilitates the utilization of these certificates in various applications, including carbon credit sales and carbon futures.

Arkreen Network Integrates with peaq

In a significant move towards bolstering projects focused on sustainable energy, Arkreen Network has announced its integration into the peaq ecosystem.

Arkreen, a Polygon-based Web3-powered digital infrastructure, aims to revolutionize the global distributed renewable energy resources sector by rewarding green power suppliers and energy consumers. This strategic alliance with peaq opens doors for a wide array of possibilities within the Decentralized Physical Infrastructure Networks (DePIN) ecosystem, setting the stage for collaborative ventures and enhanced monetization tools.

The collaboration with peaq promises to bring substantial benefits to the DePINs operating within the energy-focused niche. Arkreen’s expertise will enable these networks to certify the activities of their energy data assets effectively, providing transparency and credibility to their operations. Additionally, the partnership will amplify monetization efforts and unlock new revenue streams for both energy projects and asset owners.

One of the most promising developments arising from this alliance is the joint proof-of-concept (PoC) project between Arkreen and penomo. Penomo, a Web3 crowd-financing and monetization platform for green energy storage, connects private investors with investment opportunities in the energy sector. The PoC involves the collaboration of a power storage hardware provider and a solar panel manufacturer. The battery linked with the solar panel will be tokenized by penomo for offering to Web3 investors, while Arkreen will aggregate and facilitate the usage of vital data generated by this innovative pairing.

Abba Garba, Head of Product and Partnership at Arkreen, emphasized the immense value that Web3 technologies bring to the sustainable energy sector and highlighted the prospect of further exploration and growth through this partnership.

Till Wendler, co-founder of peaq, emphasized the alignment of values between the two organizations. “Sustainability is one of the core values for the peaq ecosystem, and it’s one that is very much shared with Arkreen,” he stated. This alignment underscores the commitment of both peaq and Arkreen to drive sustainable energy initiatives forward, leveraging the power of blockchain technology and Web3 to create a more environmentally conscious future.

The collaboration between Arkreen and peaq marks a significant step in the ongoing global transition towards sustainable energy solutions. By uniting their expertise and resources, these two innovative entities are poised to play a pivotal role in unlocking the full potential of green energy resources while addressing the challenges faced by smaller players in the industry. As the world continues to prioritize sustainability, the synergy between Arkreen and peaq promises to be a beacon of hope for a greener and more sustainable future.

Read Also: Peaq and Fetch.ai Unveil Multi-Chain Machine IDs for Web3 Interoperability

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