peaq, the L1 blockchain for real-world applications, has onboarded into its ecosystem Akreen Network and penomo, to strengthen the global distributed renewable energy economy. According to a release by the Foundation, this partnership aims to support green energy initiatives. Specifically, it involves developing verifiable green energy solutions and monetizing them in the Web3 market.
Leveraging Web3 to develop decentralised green energy solutions
Arkreen is an energy monitoring platform powered by Polygon. It enables companies and households generating green energy to track their energy activities by installing specialised devices on their energy assets. These homes and companies can then get tradable renewable energy certificates. The certificates act as verified evidence of the generation and distribution of a predetermined amount of environmentally friendly power.
The green energy frontier is a confluence of the sustainability mission to which both Arkreen and the peaq ecosystem have committed themselves. By entering the peaq ecosystem, Arkeen will benefit from peaq’s thriving ecosystem of Decentralised Physical Infrastructure Networks (DePIN), particularly those centred on the energy sector.
Furthermore, it strengthens the monetization options built around peaq network’s green energy initiatives. Arkreen’s entry into peaq will enable the green energy DePINs to verify and certify the operation and performance of their energy data assets. This will result in a transparent and accountable system, which will make it easier for project developers and energy asset owners to generate more revenue.
In addition, penomo, a Web3 crowd-financing and monetization platform for green energy storage, has joined the peaq ecosystem to collaborate on a proof-of-concept (PoC) project. penomo is a Web3 platform built to link individual investors with energy storage investment opportunities. Therefore, its business model complements Arkeen and peaq network.
As part of the collaborative PoC, Arkeeen and penomo will build a power storage hardware provider with a battery linked to a solar panel. penomo will then tokenise this battery will and offer the tokens to Web3 investors, while Arkeen’s role will be to aggregate the data into a usable format.