The blockchain and AI focused energy solutions firm Energi Mine managed to raise $4 million in new funding — the remaining portion of its $15 million Initial Coin Offering (ICO) target — in just 81 minutes following the opening of the ICO, an email sent to CleanTechnica has revealed.
“The global interest in this ICO has been astounding,” commented Energi Mine CEO and founder Omar Rahim. “Investors have bought into our vision to revolutionise and reinvigorate the stagnant energy market using blockchain.”
The email sent to CleanTechnica provides more:
“In total, Energi Mine’s ICO has attracted contributors from over 30 countries with a mix of investors from larger crypto funds and the general public. Energi Mine will now launch its new cryptocurrency, ETK Tokens, which reward(s) people for consuming less energy, incentivizing them to engage in energy-saving behavior that will have a positive impact on the environment.
“Until now there has been virtually no incentive to save energy. The Energi Mine blockchain solution will create a platform to reward energy efficient behaviour. The ETK Token will offer incentives for a range of energy-efficient behaviours from taking low-carbon transport to buying energy-efficient appliances. ETK Tokens can then be reused in the ecosystem to help pay towards electric bills or even to charge electric vehicles.”
That certainly makes for an interesting idea, and an approach to incentivizing energy conservation that proves to have some (even if limited) merit.
The Energi Mine CEO continued: “Since September, our team has travelled the globe talking to governments, corporations, and the general public to make them aware of our scheme to reduce global energy consumption. The hard work starts now.”
On that note, it should stated here that the firm is reportedly working on the development of a new cryptocurrency payment system for the extensive electric vehicle (EV) charging networks in the UK.