Reneum raises $4.1M war chest to launch marketplace to fund the renewable energy transition – EQ Mag Pro

• Lead investors include Ajeej Capital, Catalyst Investment Management and Outlier Ventures via their Polygon-backed accelerator program

• Marketplace set to launch late Q4, 2022 with a target to generate $100M for renewables projects by end of 2024 and enabling access to 1 million individual users (for the first time ever), by 2025

• Co-founders Brianna Welsh and Assaad Razzouk aim to bring critical awareness of the existing climate landscape and its realistic and implementable solutions

LONDON :  Reneum Institute, the green energy marketplace built on the blockchain, announced today it has secured a $4.1M pre-seed funding round led by Dubai investment heavyweight, Ajeej Capital. Leading global Web3 accelerator and investor, Outlier Ventures, took a position via its Polygon-backed accelerator programme, which Reneum recently graduated from.

Prioritizing strategic investors building renewable energy on the ground, Reneum is also backed by APAC-focused renewable energy investment fund, Sindicatum Sustainable Resources, and MENA renewable energy fund, Catalyst Investment Management in addition to a bench of Web3 and renewable energy industry angel investors. The international profile of these investors allows Reneum to accelerate its solution to emerging markets globally, as part of its core mission.

This funding will support Reneum’s public launch by the end of Q4, 2022, allowing individual and corporate investors to truly catalyze the energy transition and create long-term climate action.

With immediate focus on the 2030 energy transition target, Reneum’s marketplace enlists renewable projects seeking funding. With over 100 solar and wind farming projects from across 25 countries currently listed, Reneum has already begun securing buy-orders from climate ambassadors and corporations while the marketplace is in its Beta launch phase.

Designed to establish a model for Proof-of-Impact, Reneum issues tokens (RENW) to renewable energy projects that represent their environmental benefit, as a form of natural capital, which they can monetize as a form of revenue. This revenue makes projects more profitable, incentivizing capital owners and renewable producers to invest in new renewable buildouts.

Buyers that purchase the tokens for climate action, ESG commitments or government mandates receive a digital Renewable Energy Certificate (REC), also known as a green energy offset, in the form of a collectible, verified-green NFT. The NFT is soulbound to the buyer, symbolizing documented, fully traceable and entirely on-chain, climate action. Through its “verified-green” label, the Reneum NFT is the first recognizable badge of green contribution, available for both companies and individuals worldwide, allowing everyone to take part in #DirectClimateAction.

Reneum’s founders are former venture member at Sindicatum Renewable Energy, Brianna Welsh, and clean energy entrepreneur, investor, commentator and host of The Angry Clean Energy Guy podcast, Assaad Razzouk. Together, they bring extensive experience within the environmental and renewable energy markets, and a critical awareness of the existing climate landscape and its realistic and implementable solutions.

Jamie Burke, Founder and CEO, Outlier Ventures, commented: “Web3 is often accused of being used for purely frivolous speculation. But its ability to provide an infrastructure that enables more efficient p2p markets has no greater use-case than initiatives like Reneum; to help catalyze the renewable energy transition through direct green funding. We believe supporting brilliant founders like Brianna and Assaad to leverage Web3 technology and business models is the single most impactful thing we can do at Outlier Ventures to contribute to climate change”.

Brianna Lee Welsh, CEO & Co-Founder: “Investment in renewable energy capital is plagued with financing difficulties. New developments are in direct competition with subsidized and favored fossil fuel incumbents, making capital skittish, inhibiting new entrants. Our vision is to create a global economy that is upheld by natural capital. Thanks to our investors, this funding will enable individuals and corporations alike to truly catalyze the renewable energy transition through direct and transparent green funding by 2030.”

Reneum aims to reach $100M sent to renewable projects by the end of 2024, with 1M individual buyers utilizing its platform by 2025.

As we build confidence in the success of the energy transition, Reneum will broaden its marketplace to include other natural capital sectors such as:

• Regenerative soil sequestration and conservation
• Blue carbon, ocean restoration and seafloor protection
• Coastal westland protection
• Supporting land stewardship
• Recycled plastics.
• About Reneum Institute

About Reneum Institute

Reneum is building a global green energy marketplace on the blockchain for individuals and organizations to fund climate action. Headquartered in Singapore, Brianna Welsh and Assaad Razzouk founded Reneum with the vision to turn climate frustration into real impact by connecting individuals and companies with renewable energy projects certified via a new form of digitized Renewable Energy Certificate (REC). Built on the Polygon blockchain, Reneum’s state-of-the-art green marketplace is set to launch in Q4, 2022 and will be available around the globe. With over $4.1M in funding, Reneum partners with some of the world’s most established investors in Web3 and climate solutions, including Outlier Ventures and Ajeej Capital.