Posted 4 months ago | by @devadmin
Apple co-founder Steve Wozniak has launched its second company Efforce, a company that promotes investments in energy efficiency projects via its cryptocurrency WOZX and blockchain technology.
Efforce intends to be a marketplace to allow the means of financing energy efficiency projects by empowering them to receive crowd contributions from investors via its token, WOZX, which was initially listed on HBTC.
According to a press release, Efforce claimed the listing of its WOZX token had initially increased its market value to $950 million in the first 13 minutes. At the time of this report, WOZX’s market cap is hovering around a $30 million evaluation.
The token will also be listed next week on South Korea-based crypto exchange Bithumb Global.
Efforce stated in its presser that energy services companies are usually limited access to capital since they are frequently unable to turn to traditional banking methods for raising funds, as banks lack the specialized expertise to properly estimate the return on investment of a company.
Efforce is projected to disrupt the energy efficiency marketplace, investors will be able to invest their excess liquidity through the platform while having access to energy efficiency models for use in their organizations.
“Energy consumption and CO2 emissions worldwide have grown exponentially, leading to climate change and extreme consequences to our environment. We can improve our energy footprint and lower our energy consumption without changing our habits. We can save the environment simply by making more energy improvements,” said Wozniak. “We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change.”
Energy efficiency projects are currently evaluated at $250 billion, providing an opportunity for small companies to partake with such a massive upside for the industry.
“We have created a business model that allows anyone to participate in the greater good of making the world cleaner and healthier, all by leveraging efficiency for economic growth,” said Jacobo Visetti, project lead, and co-founder, Efforce. “Energy efficiency is a way to create a sustainable future, and this is a way to help counter climate change, reduce carbon – and make money while you do it.”
Energy services companies can register energy efficiency projects with Efforce who will then verify prospects, and assess their investment needs, calculate returns and create Energy Performance Contracts (EPCs.)
There will also be a smart meter on the company’s blockchain to measure each project’s energy savings which in turn will turn those savings into energy credits that are saved in investors’ profiles for use on the platform or selling on exchanges.
“We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change,” Wozniak said in a statement.
The company was co-founded by Wozniak, Jacopo Vanetti, Andrea Castiglione, and Jacopo Visetti, who also founded AitherCO2.
WOZX is currently trading at [FIAT: $1.69] UP +11.8% in the last 24 hours according to Coingecko at the time of this report.