Blockchain corporation Ripple, The Lincoln-based financial services company has announced a partnership with Nelnet. As part of the deal, Ripple will jointly invest $ 44 million in the company’s renewable energy business division to fund American solar projects.
Significant Partnership from Ripple
Ken Weber, Ripple’s head of social impact, claims that one of the industry’s main priorities should be to reduce its carbon footprint and “Guaranteeing a clean energy future is a big priority in every sector, not only to ensure future economic growth, but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it is clear that the technology will support our future financial systems.” he used his words.
In addition, according to October statements made Ripple the projects funded by are expected to offset more than 1.5 million biometric tons of CO2 greenhouse emissions.
Nelnet started offering services to business developers in June 2020 with the aim of further diversifying its business, which is largely dependent on the student loan industry. In addition, the firm began financing solar energy startups in 2018.
On the other hand, Ripple is also described as one of the most climate-conscious companies in the crypto space. Ripple in early April, Consensys and CoinShares together with Crypto became part of the Climate Agreement.
October June, Bitcoin technology company Blockstream joined forces with Jack Dorsey-led Square to create a solar-powered cryptocurrency.