According to Cointelegraph, Australian energy tech company Powerledger has announced its expansion into the Solana ecosystem, emphasizing shared values with the blockchain network amid growing interest in Regenerative Finance (ReFi).
A spokesperson for Powerledger highlighted the alignment of innovation, sustainability, and transparency between Powerledger and Solana. These values are becoming increasingly critical as the world shifts toward ReFi and sustainability. ReFi aims to create economic systems that focus on restoring and enhancing social, environmental, and economic well-being, beyond just generating financial returns. CoinGecko data indicates that the total ReFi market capitalization stands at $110.57 million at the time of publication.
The integration aims to increase the clean energy and sustainability narratives within the blockchain space. Powerledger’s co-founder, John Bulich, stated that the firm’s expansion with Solana mainnet not only enhances the narratives of clean energy within the blockchain space but also underscores that sustainability is a common goal that transcends ecosystems, reinforcing that crypto can be a force for good.
Powerledger will integrate its products with the Solana Mainnet and cease operating its own Solana Virtual Machine (SVM) blockchain. Having operated on the SVM blockchain for over 12 months, Powerledger claimed it has gained valuable expertise on how to best use the SVM technology. This next step in expanding onto Solana mainnet is seen as a key milestone in building on an open and common platform.
The POWR token will also be available in the Solana ecosystem as a native SPL token while remaining an ERC-20 token. CoinMarketCap data shows that at the time of publication, POWR is trading at $0.22, up 16.75% since Sept. 14. Powerledger’s blockchain-based transactive energy solutions include peer-to-peer energy trading, virtual power plants, and trading in carbon credits and renewable energy certificates (REC).
This announcement follows the news on Sept. 13 that Worldcoin is launching seamless World ID integration for the Solana blockchain through a new cross-chain protocol from the Wormhole Foundation. According to a Worldcoin blog post, the Wormhole Foundation completed the cross-platform bridge two and a half months after being announced as a Wave1 Community Grants recipient.
