Sun Exchange raises $500,000 from Alphabit to accelerate its use of crypto to power the world

 

SunExchange has received a $500,000 (USD) seed investment from Alphabit, a multi-million-dollar hedge fund supporting its vision of creating a thriving, inclusive and decentralized, global solar-powered economy.

“Alphabit invests in companies that solve real-world problems by applying blockchain and decentralization,” said Liam Robertson, CEO, Alphabit. “Sun Exchange is a prime example, with technology that has potential to disrupt two of today’s most dysfunctional centralized global systems — energy and finance. I’m convinced this will be one of the best equity investments Alphabit has made to date.”

The Sun Exchange has garnered much recognition among global blockchain, technology and sustainability leaders for our innovative approach to solar finance. Earlier this year crypto power couple, Stacy Herbert and Max Keiser of Heisenberg Capital and the Keiser Report, joined the Sun Exchange advisory board. In July, we announced a partnership with Leonardo DiCaprio-backed Powerhive, aiming to leverage the Sun Exchange platform to deliver electricity for up to 175,000 people in Kenya currently living without power. In May, the United Nations Development Program announced that it has partnered with Sun Exchange to pilot blockchain-based finance for solar in Moldova.

“We are delighted to have the support of Alphabit’s team of blockchain industry visionaries, who share our core principles of leveraging decentralization to create a more sustainable and equitable world,” said Abraham Cambridge, CEO & Founder, Sun Exchange. “Their investment will significantly accelerate our growth and progress towards our goal of solar powering the world through the crypto-economy.”

The firm has facilitated funding for six fully operational solar projects in South Africa through its solar micro-leasing platform. The projects power organizations such as schools, small businesses, wildlife protection parks and nonprofits. The firm is currently running a crowdsale for its seventh project, which will solar power Sacred Heart College in Johannesburg, a historic educational institution renowned for its social justice leadership.

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“By leveraging the borderless, decentralized nature of cryptocurrency, we enable practically anyone, anywhere in the world, to buy into our solar projects and receive a stream of monetized sunshine from the power generated by the projects. Through this model, we have built a global community of over 14,000 registered Sun Exchange members across 90 countries,” announced the firm.

Sun Exchange recently introduced SUNEX, digital rewards token, which can be earned to get discounts and bonus rental income on the Sun Exchange marketplace and can be staked into a ground-breaking solar project insurance fund. The SUNEX Network Token is currently available for purchase through a public token sale event which will run through December 31, 2018.

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