Australian energy tech company Powerledger is making headlines with its expansion into the Solana ecosystem. The company believes its values align closely with Solana’s, especially as interest in Regenerative Finance (ReFi) continues to grow. ReFi seeks to create economic systems that prioritize more than just profits; it aims to enhance social, environmental, and economic well-being.
According to CoinGecko data, ReFi’s total market capitalization currently stands at $110.57 million. The spokesperson emphasized that the integration will boost the conversation around clean energy and sustainability in the blockchain world. Additionally, they added that it’s a major move towards aligning financial innovation with the well-being of our planet.
Meanwhile, Powerledger’s co-founder, John Bulich, shared that their move to the Solana mainnet isn’t just about expanding their reach. It also highlights the growing conversation around clean energy in the blockchain world. He emphasized that sustainability is a shared goal across different ecosystems, showing that cryptocurrency can be a positive force.
POWR token’s new era on Solana Mainnet
Powerledger plans to integrate its products with the Solana mainnet and will stop operating its own Solana Virtual Machine (SVM) blockchain. After working on the SVM blockchain for over a year, Powerledger stated that it has gained valuable insights into effectively utilizing SVM technology.
They said:
This next step in expanding onto Solana mainnet is a key milestone in building on an open and common platform.
The Powerledger (POWR) token will now function as a native token within the Solana ecosystem while still being available as an ERC-20 token. According to CoinMarketCap data, POWR is currently trading at $0.22, a 16.75% increase since September 14. Powerledger offers innovative energy solutions using blockchain technology. This enables peer-to-peer energy trading, creates virtual power plants, and facilitates trading carbon credits and renewable energy certificates (RECs).
This announcement follows the recent news from Sept. 13, where Worldcoin revealed its plans to integrate World ID seamlessly with the Solana blockchain via a new cross-chain protocol developed by the Wormhole Foundation. According to a Worldcoin blog post, the Wormhole Foundation finished its cross-platform bridge two and a half months after being announced as a Wave1 Community Grants recipient.
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