Powerledger expands with Solana, bringing its sustainability expertise to the ecosystem.
Zug, Switzerland, September 21st, 2024, Chainwire
Powerledger (POWR) announces its expansion to the Solana (SOL) mainnet ecosystem. This decision aims to further leverage Powerledger’s expertise in the energy and sustainability software and to drive Solana to the forefront of Regenerative Finance (ReFi).
Powerledger’s products will integrate with Solana Mainnet, halting Powerledger’s SVM (Solana Virtual Machine) blockchain, and expanding its POWR token into the Solana ecosystem as a native SPL token, in addition to POWR continuing to be an ERC20 token. Both will take place by October 2024.
This strategic decision harnesses the full potential of Solana’s network and ecosystem capabilities for Powerledger’s products. It will also enable Powerledger to focus on bringing innovative sustainability products to the market.
After over a year of operating on a SVM chain, Powerledger has proven the technology’s potential within its product ecosystem and gained valuable expertise on how to make best use of the SVM technology. This next step, in expanding onto Solana mainnet, is a key milestone in building on an open and common platform.
This expansion onto Solana mainnet supports Powerledger’s mission of democratisation of power for a sustainable future. For instance, this year, Powerledger announced commercial deployment of its Powerledger’s peer-to-peer (P2P) energy trading technology with leading energy supplier, Energie Steiermark, in Austria. Additionally, Powerledger’s environmental commodities trading marketplace, TraceX, launched pioneering features which open renewable energy certificate (REC) market access for renewable energy buyers.
This expansion with Solana provides the following benefits:
- Faster innovation: Powerledger can now broaden its reach for its solutions across major marketplaces, tapping into Solana’s vast and diverse audience and ecosystem. Powerledger can easily leverage any new features and tools from the Solana ecosystem.
- Access to the vibrant Solana community: The Solana community has witnessed rapid growth in recent years, crossing the mark of 875k active users at the beginning of 2024. Expanding onto Solana mainnet enables Powerledger to connect with Solana’s active ReFI and sustainability communities and unlocks new opportunities for collaboration with immediate and positive impact.
- Championing ReFi and sustainability: With deep expertise in energy and sustainability, Powerledger is committed to supporting Solana’s leadership in ReFi and sustainability. Solana stands out as the first smart-contract layer 1 blockchain to feature real-time energy emissions tracking, aiming to build a more energy-efficient Web3. Powerledger aligns with Solana’s core principles of transparency, continuous improvement, and innovation, reinforcing our shared commitment to a sustainable future.
“At the core of both Solana and Powerledger is a commitment to empowering people. Powerledger’s vision is to enable ordinary citizens to actively participate in the energy transition and make clean energy accessible for everyone. This aligns seamlessly with Solana’s goal of making blockchain accessible to everyone. This shared focus on people and innovation will drive meaningful progress and create new opportunities for all,” says Dr. Jemma Green, Co-founder & Chairman, Powerledger.
About Powerledger
Powerledger is a Web3 company that creates pioneering solutions that solve pressing energy challenges, enabling access to cheaper and cleaner electricity. Founded in 2016, Powerledger is known for being Australia’s first and most successful ICO. Powerledger has previously experimented with Bitcoin and Ethereum forks before transitioning to a hard fork on Solana last year. Now, headquartered in Zug, Powerledger is recognised as one of the top 50 companies in Crypto Valley, Switzerland.
For more information, please visit https://www.powerledger.io/