peaq and penomo Partner to Tokenize EV Batteries for Green Energy

peaq, the pioneering blockchain for real-world functions, is teaming up with penomo to create a community of tokenized batteries. penomo, a platform specializing in monetizing sustainable vitality companies, particularly these reusing or recycling electrical car (EV) batteries, will remodel these batteries right into a decentralized bodily infrastructure community (DePIN). This community will reward Web3 buyers by producing earnings via avenues like carbon credit score gross sales.

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Lithium-ion batteries are very important for inexperienced vitality storage and EVs however come at an environmental price as a result of lithium extraction. Sustainable vitality and battery recycling corporations wrestle to safe income and liquidity, hampering the transition to eco-friendly vitality.

penomo affords a streamlined resolution for eco-conscious vitality companies. By tokenizing their batteries, these companies can entry international capital and liquidity by sharing future revenues with the Web3 investor neighborhood. They will additionally capitalize on carbon credit score gross sales and carbon credit score futures, creating three potential income streams.

penomo leverages peaq’s core capabilities, together with multi-chain IDs and peaq pay, for fractional possession inside its DePIN.
With peaq’s help, penomo’s app tokenizes batteries, distributes investor rewards, and facilitates on-chain carbon credit score gross sales.
penomo, incubated by EoT Labs, already boasts 4 letters of intent with vitality storage and recycling corporations, together with Evyon. Discussions for paid proof-of-concept and co-development are underway with main multinational enterprises, supported by endorsements from ten distinguished corporations, together with automakers and vitality companies.

Jasvir Dhillon, penomo’s co-founder, can also be main a Fraunhofer HHI challenge utilizing AI to boost EV battery sustainability. “It’s encouraging to see a lot market pull for penomo’s resolution,” says Jasvir. “A number of decision-makers from related corporations are reaching out to us themselves, despite the fact that we’re but to spend a dime on advertising.”

“We’re thrilled to be constructing an answer that embraces the regenerative finance concepts by merging sustainability with enterprise innovation. As a layer-1 constructed for DePINs, peaq is the right house for a challenge like this, bringing helpful pre-built capabilities and tailored economics to the desk,” added Jasvir.

Until Wendler, co-founder of peaq, acknowledges penomo’s function in addressing sustainability challenges throughout the vitality storage sector. He emphasizes the chance for the Web3 neighborhood to spend money on sustainability and for companies to undertake peaq’s blockchain.

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About penomo

penomo is a monetization platform for sustainable vitality storage and EV battery recycling corporations. It permits companies to tokenize their batteries, add them to a decentralized bodily infrastructure community, and provide tokens to the worldwide Web3 neighborhood. Buyers obtain a share of battery-generated revenues. penomo additionally allows the sale of battery knowledge, carbon credit, and carbon credit score futures on a borderless Web3 market.

About peaq

peaq is a blockchain designed for real-world functions, empowering the creation of decentralized functions (dApps) and Decentralized Bodily Infrastructure Networks (DePINs). It collaborates with business consortia, akin to Gaia-x moveID, to form the way forward for good mobility, vitality, connectivity, and different very important real-world industries. peaq goals to democratize abundance within the age of AI-driven automation by enabling possession, governance, and earnings from the units and infrastructure used.