4NEW demonstrates how blockchain can transform the waste and energy sector. Image source: Shutterstock (#649874284).
4NEW, a blockchain waste-to-energy start-up, has secured a $25 million investment from a major US private equity company only eight days after the launch of the company. The money will flow into their first waste-to-energy site in the UK, which will cost about £60 million.
The start-up uses the digital ledger of blockchain to allow for suppliers and customers to track and trade their energy. This way, the company says, economies of scale and greater transparency are created, resulting in reduced prices for consumers.
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