August 8 marked the official launch of Reneum, a green energy platform tackling the biggest challenge of our generation, climate change, by leveraging the most disruptive technological innovation of our generation, the blockchain.
Reneum is launching its Marketplace with the aim of becoming the one-stop green platform to accelerate climate solutions. Initially, the Reneum platform will focus on leveraging the power of the blockchain to mobilise capital for direct climate action, for both individuals and companies worldwide. Result: a wall of money is mobilised to accelerate renewable energy deployment, funded directly by Bitcoin miners, the broader Web3 community, but most importantly, any and all individuals and corporates interested in taking direct climate action.
Reneum is starting a movement fueled by like-minded individuals who care about the future of the planet and want to be empowered to influence climate solutions, beginning with the energy transition. By providing a mechanism of action for motivated individuals to effect change, Reneum aims to be the de facto green standard for direct climate action at scale.
The Reneum Marketplace will direct funds transparently and efficiently to pre-vetted renewable energy producers around the globe. This will transcend the problematic legacy of environmental markets that have led to stagnation in redirecting climate finance. After each transaction, individuals seeking direct climate action, corporates with ESG commitments or crypto companies greening their energy footprint, receive a “verified green” receipt in the form of an NFT, which serves as ‘proof-of-impact’ and full membership to the Reneum community.
Currently in MVP stage, full launch of the Reneum Marketplace is scheduled for the second half of 2022, whilst the Reneum Manifesto and Reneum White Paper are now available to the public on the Reneum website.
“Like all tools, technologies can be helpful or harmful, depending on how they are leveraged. We finally have the technologies to confront climate change, we just need to activate them in a coordinated, conscientious way. Reneum is our vision for a community-powered web3-ecosystem to enable direct climate action, at scale, and for everyone,” said Brianna Lee Welsh, MD & Co-Founder.
Seed round raise
Reneum raised USD $2.6M in Q1 this year for its seed round, led by Ajeej Capital out of Dubai. Renewable energy fund Catalyst Clean Energy Fund out of Jordan, whose projects are listed on Reneum’s Marketplace, also participated. On the blockchain side, VC fund Outlier Ventures were involved as part of Polygon’s accelerator program called Basecamp, which Reneum graduated from in April.
Financial instruments to financially instrumental
Brianna Lee Welsh (Co-Founder & MD) and Assaad Razzouk (Founder) founded the Reneum Institute to combat the stagnancy of the energy transition. Disillusioned by empty promises, the torpid transition out of fossil fuels, and the inefficiencies of legacy environmental markets designed to support this evolution, they decided to build a solution which bypasses traditional financial markets. They identified the decentralised nature of blockchain technology as unique as a solution to redistribute capital transparently and efficiently to where it is most needed, to simultaneously accelerate the energy transition and empower anyone from individuals to businesses to take direct climate action. By utilizing a distributed token economy to redirect capital to producers on the ground, Reneum aims to help mobilise the large financial flows required to accelerate the energy transition and therefore decidedly shift our climate course.
A universal solution for Direct Climate Action
Reneum’s journey begins with a focus on renewable energy, where it can make the most dramatic impact on our climate course.
We need 7x the capital that is currently being invested in renewable energy worldwide in order to limit warming to 2°C over pre-industrial times. Individuals in particular – especially those participating in protests like Fridays4Future and Extinction Rebellion, feel helpless and disconnected from supporting meaningful change; they need a simple tool allowing them to take meaningful, direct action, and Reneum is heeding their call. We are here to unlock massive amounts of capital directly from citizens and corporations, in order to scale renewable energy deployment and accelerate the energy transition.
In future, Reneum will expand and open funding channels to other environmental causes on the Marketplace (such as fighting the plastic pandemic, or cleaning up our oceans), launching additional initiatives for each climate vertical.
The fight against climate change is on. Now is the time to mobilise as a global family, to utilise the most avant-garde technological tools available to us in order to face our greatest challenge.
Reneum is a platform to drive capital directly and transparently to renewable energy projects across the globe. Utilizing blockchain technology, we provide a mechanism to turn climate frustration into real impact, bypassing centralised bureaucracy and a failing legacy system. Accessible to all, we aim to truly catalyze the energy transition through direct climate action on a global scale.