Plural Energy Raises $2.33M for Clean Energy Investments, ET EnergyWorld

New Delhi: Plural Energy, an on-chain investment platform, announced that it has secured $2.33 million in pre-seed funding. The financing round was led by Necessary Ventures and Compound, with participation from Volt Capital and Maven11. This initiative aims to support the global transition to clean energy by facilitating investments through blockchain technology.

The platform will soon offer its first tokenized investment asset – a portfolio of photovoltaic projects developed by Solaris Energy, scheduled for launch at the end of summer. Plural Energy’s goal is to make clean energy investing accessible to a wider range of investors, beyond traditional financial circles.

“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.”

The partnership with Solaris Energy marks a step towards democratizing the financing of smaller renewable energy projects. Alex Blackmer, CEO and co-owner of Solaris, said: “By working with Plural, we see a path towards the democratization of solar finance, where everyone can become part of the revolution that makes the energy sector greener.”

Plural Energy ensures compliance with regulatory standards by acting as a registered transfer agent and working with SEC-registered broker-dealers and KYC/AML providers to secure investments.

Neil Devani, founder and managing partner of Necessary Ventures, highlighted the profitability and sustainability of renewable energy investments, saying: “Investing in renewable assets has proven to be highly profitable and stable for institutional investors, consistently generating double-digit IRRs domestically and internationally. It’s time to do it and unleash this opportunity for all investors.”

Posted on May 31, 2024 at 08:09 EST

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