Developed and operated by Sustainable Impact Token (SIT), the project will support the development, construction and operation of algae biomass farms. The initiative will use blockchain technology to bridge the gap between two of the fastest growing investor markets in the world: asset-backed finance and cryptocurrencies.
SIT’s algae biomass farms produce high-quality non-animal protein, based on a system powered exclusively by renewable energy. These algae farms absorb large amounts of carbon from the atmosphere and are a net producer of renewable energy. The SIT project currently supports the development of a “proof of concept” algae biomass farm in Europe using proprietary sustainable technology.
Myles Milston, CEO of Globacap, said: “Being part of this pioneering project marks an important milestone in our ongoing mission to enable frictionless asset creation and transfer. With Globacap, the process of raising capital is completely digital, in its most automated, transparent, secure and Our work with SIT and Tezos is transformative in the way this market can operate.”
The $5 billion algae biomass sector is estimated to grow at a CAGR of 6.3 percent over the next 5 years and the success of the project will provide the foundation to expand globally. SIT provides investors with tokens issued through smart contracts implemented on the Tezos proof-of-stake blockchain that represent their preferred shares in the project. Carbon credits generated from algae production will also be tokenized into Algaecoin, a tokenized asset that represents tradable carbon credits.
“By bringing carbon credit-backed assets and agricultural technology solutions to private markets and beyond, we can take significant and impactful steps to sustain our planet for future generations,” added Milston.
The SIT offering was designed to enable frictionless transfer in full compliance with securities regulation via Tezos FA2 compliant token contracts for holding and settlement. This pioneering offering bridges the worlds of cryptocurrency and sustainable asset-backed investing to create a compelling blockchain-enabled investment vehicle.
“As solutions to the macro challenges of food scarcity and sustainable energy production continue to be a global priority, the demand for investment vehicles that can also support these objectives is increasing. We are delighted to see Globacap choosing Tezos to power this unique blockchain-based asset-backed offering,” said Mason Edwards of the Tezos Foundation.
Tezos is a low-power, open-source blockchain network powered by a global decentralized network of users and validators. Companies and builders from around the world leverage Tezos for projects that explore the potential of blockchain to be a tool for sustainable innovation. Recently, the University of Cambridge announced the Cambridge Carbon Credit Center (4C), which is creating a trusted decentralized marketplace on Tezos where buyers of carbon credits can confidently and directly finance trusted nature-based projects that they unite corporate funders with conservationists, through an automated and transparent global process. oracles.
Globacap is committed to enabling the adoption of tokenization for most asset classes and providing a means for digital securitization to global capital markets. Blockchain technology enables previously illiquid investments to be made efficiently in seconds instead of weeks, and with minimal overhead. Globacap’s mission is to bring the archaic processes behind capital markets into the digital age by offering private placement, securities issuance, securities registry management and liquidity products.
Sustainable Impact Token Chairman and Founder Peter Henderson said, “Our vision is to play our part in addressing some of the real challenges of our time: how can the world’s growing population be sufficiently and nutritiously fed and achieving this ambition in a way that enhances, rather than harms, the environment We believe our approach helps on all these fronts and we know the investment community is eager to join us on the journey.
“SIT presents a unique investment opportunity that is supported by our three fundamental pillars: food security, renewable energy and carbon reduction.
“We wanted to structure the offer using an innovative, transparent and secure approach. Investors are offered an attractive return, in a real asset, but through digital technology, and can make their investments through fiat or crypto currencies.
“Bringing the token offering to market has been incredibly smooth, which is a credit to our partners at Globacap, Tezos, and Lumin Capital.”