Powerledger co-founder John Bulich says the expansion underscores “that sustainability is a common goal that transcends ecosystems.”
Australian energy tech company Powerledger has announced its expansion into the Solana ecosystem, emphasizing shared values with the blockchain network as interest in Regenerative Finance (ReFi) grows.
“At the heart of both Powerledger and Solana is a shared vision of innovation, sustainability, and transparency — values that are becoming increasingly critical as the world shifts toward ReFi and sustainability,” a Powerledger spokesperson told Cointelegraph on September 21.
Powerledger Co-Founder Highlights ‘crypto can be a force for good’
ReFi seeks to establish economic systems that prioritize social, environmental, and economic well-being in addition to financial returns.
According to CoinGecko data, the ReFi market capitalization stands at $110.57 million at the time of writing.
Powerledger’s integration with Solana aims to enhance “the clean energy and sustainability narratives within the blockchain space,” the spokesperson added, calling it a “significant step in aligning financial innovation with planetary well-being.”
John Bulich, Powerledger’s co-founder, told Cointelegraph that the company’s move to the Solana mainnet not only amplifies “the narratives of clean energy within the blockchain space but also underscores that sustainability is a common goal that transcends ecosystems, reinforcing that crypto can be a force for good.”
Powerledger to Discontinue Operating SVM Blockchain
Powerledger will integrate its products with the Solana mainnet and will no longer operate its own Solana Virtual Machine (SVM) blockchain.
After over 12 months of using the SVM blockchain, Powerledger claims to have “gained valuable expertise on how to make best use of the SVM technology.”
“This next step in expanding onto Solana mainnet is a key milestone in building on an open and common platform,” the company stated.
The Powerledger (POWR) token will become a native token in the Solana ecosystem while also remaining an ERC-20 token.
At the time of writing, according to CoinMarketCap, POWR is trading at $0.22, up 16.75% since September 14.
Powerledger’s blockchain-based energy solutions include peer-to-peer energy trading, virtual power plants, and trading of carbon credits and renewable energy certificates (REC).
This development follows the September 13 announcement that Worldcoin is introducing seamless World ID integration for Solana via a new cross-chain protocol from the Wormhole Foundation.
A Worldcoin blog post noted that the cross-platform bridge was completed two and a half months after the Wormhole Foundation was named a Wave1 Community Grants recipient.
