The project is developed and run by Sustainable Impact Token (SIT), and will support the development, construction and operation of algae biomass farms. The initiative will use blockchain technology to build a bridge between two of the fastest growing investor markets in the world – capital-backed finance and crypto.
SIT’s algae biomass farms produce high-quality, non-animal protein, based on a system that is powered solely by renewable energy. These algae farms absorb large amounts of carbon out of the atmosphere and a net producer of renewable energy. The SIT project currently supports the development of a “proof of concept” algal biomass farm in Europe using patented, sustainable technology.
Myles Milston, CEO of Globacap, said: “Being part of this groundbreaking project marks an important milestone in our ongoing mission to enable frictionless value creation and transferability. With Globacap, the capital raising process is completely digital, mostly automated, transparent, secure and Our work with SIT and Tezos is transforming the way this market can function. “
The $ 5 billion algal biomass sector is estimated to grow at a CAGR of 6.3 percent over the next 5 years, and the success of the project will provide the basis for global expansion. SIT provides investors with tokens issued through smart contracts placed on proof-of-stake Tezos blockchains representing their preferred shares in the project. Carbon credits generated from algae production will also be tokenized to Algaecoin, a tokenized asset that represents negotiable carbon credits.
“By bringing agricultural technology solutions and carbon-backed assets into private markets and beyond, we can take significant, effective steps toward sustaining our planet for future generations,” Milston added.
The SIT offer was designed to enable friction-free transferability in full compliance with the securities regulations through Tezo’s FA2-compliant token holdings and settlements. This groundbreaking offering combines sustainable asset-backed and crypto-investment values to create a compelling blockchain-enabled investment vehicle.
“As solutions to the macro challenges of food scarcity and sustainable energy production continue to be a global priority, the demand for investment cars that can also support these goals is increasing. We are excited to see Globacap choose Tezos to drive this unique blockchain-based resource.” said Mason Edwards of the Tezos Foundation.
Tezos is an energy-efficient, open-source blockchain network powered by a globally decentralized network of users and validators. Businesses and developers around the world are leveraging Tezos for projects that explore the potential for blockchain to be a tool for sustainable innovation. Cambridge University recently announced the Cambridge Center for Carbon Credits (4C), which creates a reliable decentralized marketplace on Tezos where buyers of carbon credits can safely and directly fund trusted nature-based projects that connect corporate funders to conservationists, via automated and transparent global oracles.
Globacap is committed to enabling the use of tokenization for most asset classes and providing a means of digital securitization to global capital markets. Blockchain technology means that previously illiquid investments can now be carried out efficiently in seconds instead of weeks, and with minimal costs. Globacap’s mission is to bring the archaic processes behind the capital markets into the digital age by offering private placements, securities issues, securities register management and liquidity products.
Peter Henderson, Chairman and Founder of Sustainable Impact Token, said: “Our vision is to play our part in meeting some of the real challenges of our time – how can the growing world population be adequately fed, nourished and can this ambition be achieved in a way that improves , rather than harm, the environment? We believe our approach helps on all these fronts and know that the investor community is keen to join us on the journey.
“SIT presents a unique investment opportunity that is supported by our three core pillars: food security, renewable energy and carbon reduction.
“We wanted to structure the offer using an innovative, transparent and secure approach. Investors are offered an attractive return, in a real resource, but through digital technology – and they can make their investments through fiat or cryptocurrencies.
“Bringing the token offer to the market has been incredibly good, which is an honor to our partners in Globacap, Tezos and Lumin Capital.”
