Blockchain company Ripple announces a deal partnership with Lincoln-based financial services company Nelnet. More so, they will invest $44 million into the company’s renewable energy business division. Furthermore, this will help in providing funding for American solar power projects.
Notably, Ken Weber, Ripple’s head of social impact says that reducing the industry’s carbon footprint is one of the major targets.
“Guaranteeing a clean energy future is a major priority across every industry,..”
“not only to drive future economic growth but also to ensure a more sustainable world…”
“As the adoption of cryptocurrencies and blockchain continues to grow,…”
“it’s evident that the technology will underpin our future financial systems.”
Furthermore, The projects that Ripple Funds are to offset over 1.5 million biometrical tons of CO2 greenhouse emissions.
Meanwhile, Nelnet is offering services to business developers since June 2020. Which of course, is in an effort to diversify its business. The business is however, largely dependent on the student loan industry. So, It resumes funding solar energy initiatives back in 2018.
Ripple, Most Climate Conscious Company
Also, Ripple is one of the most climate-conscious companies in the space. Notably, In early April, it joins Crypto Climate Accord with Consensys and CoinShares.
Lastly, Bitcoin tech company Blockstream is teaming up with Jack Dorsey’s Square. Together, they plan to build a solar-powered cryptocurrency in early June.
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