Sun Exchange, a global solar micro-leasing marketplace, today announced it received a $500,000 seed investment from Alphabit, a multi-million-dollar crypto hedge fund. The investment highlights Alphabit’s support of the Sun Exchange vision of creating an inclusive and decentralized, global solar-powered economy.
By leveraging the borderless, decentralized nature of cryptocurrency, Sun Exchange enables practically anyone, anywhere in the world, to buy into their solar projects and receive a stream of monetized sunshine from the power generated by the projects. Through this model, Sun Exchange has built a global community of over 14,000 Sun Exchange members across 90 countries.
“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.”
Sun Exchange has garnered much recognition among global blockchain, technology and sustainability leaders for its 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, the company 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 it is partnering 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.”
Sun Exchange 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 company 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.
Sun Exchange also recently introduced SUNEX, its own digital rewards token, which can be earned to get discounts 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.
