peaq, the go-to blockchain for real-world applications, announces the expansion of its ecosystem as Arkreen Network joins to bolster projects focused on sustainable energy. Arkreen is a Polygon-based Web3-powered digital infrastructure for global distributed renewable energy resources which rewards green power suppliers, such as solar panel owners or green energy storage services, as well as energy consumers. By expanding to peaq, it will tap into a new active Decentralized Physical Infrastructure Networks (DePIN) ecosystem including energy-focused projects and will support them with additional monetization tools. It will also explore a joint proof-of-concept project with penomo, a Web3 crowd-financing and monetization platform for green energy storage.
As the global push for sustainability grows, so does the proportion of renewable energy in the total. But while large green energy companies are riding this tide, smaller green energy resources, such as individual solar panel arrays or small businesses working to store green energy, are often under-utilized. Part of the challenge is monitoring their capacities and putting them to good use, which needs a common data space.
Arkreen enables green energy businesses and households to outfit their energy assets with special devices that monitor their energy activity and issue renewable energy certificates — tradable certificates confirming the production and supply of a certain amount of green energy. Arkreen works as the energy data infrastructure enabling applications leveraging such certificates, such as carbon credit sales or carbon futures. Through the expansion to peaq, Arkreen will enable the green energy-focused DePINs on peaq to certify the activity of their energy data assets. It will also amplify their monetization efforts and unlock new revenue streams for both projects and energy asset owners.
Arkreen is also working on a joint PoC with penomo, a Web3 platform connecting private investors with energy storage investment opportunities, for a power storage hardware provider which will provide a battery that will be linked with a solar panel. penomo will tokenize this battery for offering to Web3 investors, while Arkreen will aggregate its data and facilitate its use.
“We are excited to be expanding into the peaq ecosystem, the DePIN home,” says Abba Garba, Head of Product and Partnership at Arkreen. “We see a lot of potential integrations in the current stack of projects building on peaq, and look forward to its further growth. Web3 has a lot of tools to offer to the sustainable energy sector, and we’re looking forward to exploring this further together.”
“We are thrilled to see Arkreen step into the peaq ecosystem,” says Till Wendler, co-founder of peaq. “As a data platform for green energy projects, it adds a lot of value to projects building on peaq. Sustainability is one of the core values for the peaq ecosystem, and it’s one that is very much shared with Arkreen.”