Plural Energy raises USD 2.33 million for pioneering investments in the renewable energy supply chain, securing Solaris as the first investment opportunity

With a waiting list of over 40,000 investors, Plural plans to issue tokenized assets for small and medium-sized investments that will allow everyone to play a part in accelerating the global clean energy transition.

SAN FRANCISCO , May 30, 2024 /PRNewswire/ — Energy in the pluralonline investment platform supporting the global clean energy transition, today announces:

• $2.33 million in pre-seed financing under leadership Necessary undertakings AND Mixturewith participation from Volta Capital AND Maven11.
• The first tokenized investment asset to be launched on the Plural platform will be a portfolio of photovoltaic projects developed by Solaris energy (Solaris) is scheduled for later this summer.
• By leveraging its blockchain-based investment platform to tokenize clean energy assets, Plural will introduce the high-impact asset class to a much broader and diverse range of investors operating both inside and outside traditional financial institutions.

To meet global climate goals, $4 trillion more must be invested in clean energy by 2030. Plural is committed to filling this financing gap by giving investors direct access to renewable energy investments.

“Plural is building a new financial system for the clean energy transition that is accessible to all and does not let access to capital stand in the way of a clean energy future,” said Adam Silver, co-founder and CEO of Plural Energy. “We are connecting all investors with high-quality renewable energy projects so that everyone can benefit from a distributed grid powered by renewable energy sources.”

First investment offer: Solaris
Plural users will soon be able to invest in a portfolio of operating solar farms across the United States developed by Solaris. Investors will accrue dividends every time the sun shines through Plural’s blockchain-based smart contract infrastructure.

“We chose Plural because its solution facilitates the entire process of raising capital,” said Alex Blackmer, CEO and co-owner of Solaris. “Fundraising in this environment is challenging, especially for smaller scale renewable energy projects. By working with Plural, we see a path towards the democratization of solar finance, where everyone can be part of the revolution that makes the energy sector greener. Working with Plural has been a great experience and we look forward to expanding the community around the properties we build.”

The plural brings clean energy investing to the masses
Plural’s easy-to-use blockchain investing platform makes investing accessible to all types of investors, from fund and asset managers to alternative retail investors to retirement savers, offering:

• The best partners in renewable energy. Plural works with respected renewable energy developers and CleanTech companies around the world, increasing direct impact on climate and crop yields.
• Diversified, impactful assets. The plural focuses on assets for projects under $100 million, which are often overlooked by infrastructure investors despite their key role in transforming the energy grid.
• Regulatory compliance. Plural has become a Registered Transfer Agent and works directly with SEC-registered broker-dealers, Know Your Customer (KYC) technology providers, anti-money laundering (AML) technology and more to secure a stack that U.S. investors will have access to. Blockchain-based smart contracts create a transparent ledger of secure, low-cost transactions that comply with SEC rules and regulations.

“Investments in renewable assets have proven to be highly profitable and stable for institutional investors, consistently generating double-digit IRR rates at home and abroad. It’s time to unlock this opportunity for all investors,” said Neil Devani, founder and managing partner at Necessary Ventures. “Plural is effectively accelerating the infrastructure needed for a better future by democratizing this asset class. Anyone can now invest in green energy, track financial and production data on the projects they invest in, and sell their investments at any time.”

Blockchain makes investing more efficient and profitable
Plural is working with renewable energy companies to create security tokens that can be purchased via blockchain-based smart contracts, reducing the logistical frictions that keep investors from financing distributed energy projects.

The user experience will be as simple and accessible as trading traditional stocks, but with a Web3 approach on the other hand:

• Automates complex fund flows through templated contracts and models.
• Tokenizes and secures projects to ensure fast and cheap transactions.
• Requires fewer financial intermediaries.

The resulting savings on transaction and management fees provide additional profits for investors and a lower cost of capital for renewable energy companies.

“Having seen the tremendous interest from institutional and retail investors in real-world assets on the network, we were really excited about what Plural was building – not only for the need, but also for the impact,” said Mike Dempsey, Managing Partner of Compound. “We are honored to work with the entire Plural team as they accelerate work to enable large-scale financing for renewable energy projects, large and small.”

Rapid development and interest
Founded in early 2023, Plural has already gained support from renewable energy veterans, expanded its team and built an impressive waiting list:

• Expert advisors:
  • Benoit Allehauta renewable energy industry veteran with over 25 years of experience overseeing billions of dollars in energy transition investments, most recently as an advisor and managing director at a large private equity firm.
  • Paula Zagreckafounder and CEO of the company Zorya energyhas developed and financed billions of dollars of renewable energy projects over the past 30 years, most recently focusing on distributed energy assets.
• Recent full-time hires:
  • Technical Director: Kent Kolze, former head of Global Petroleum Engineering at Citadel, known for leading the development of advanced trading systems for energy markets, has joined Plural as CTO.
  • Legal Counsel: Howard “Wood” Steinberg brings over twenty years of experience as a GC/CLO/CCO to her role at Plural. Previously general counsel and head of regulatory affairs at Forge Global and general counsel and chief regulatory officer at LTSE, Wood also led legal and compliance operations at Scotiabank and Nomura, and held senior positions in Goldman Sachs’ regulatory practice group and the investment company Merrill Lynch, banking and stock trading groups.
• Early user registrations:
  • More than 40,000 investors have already joined Plural’s waiting list for the first launch of its supply chain assets.

In its next phase of development, Plural aims to bring more clean energy financing to the chain and bring more renewable assets to market through its innovative approach.

Find out more about the Solaris offer
Click here to learn more about the Solaris portfolio offering on Plural: Ace Wallet Review.

ABOUT PLURAL ENERGY
Plural Energy is powering the clean energy transition by enabling everyone from fund and asset managers to alternative retail investors to retirement savers to directly invest in the clean energy transition. Plural’s easy-to-use blockchain platform simplifies green energy financing, expands access to a profitable asset class, and helps close the $4 trillion financing gap needed to meet 2030 climate goals. Learn more at www.plural.xyz.

Discussion on Solaris Renewable Equity A. The portfolio offer is being prepared for implementation of the offer. At this time: We are not asking for any money or other benefits, and if sent in response, they will not be accepted. No offer to purchase securities will be accepted and no part of the purchase price will be available until the declaration is made and only through the intermediary platform (financing portal or broker-dealer). A person’s declaration of interest does not involve any obligation or obligation.

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SOURCE Plural energy