(MENAFNEditorial) LONDON, December 5, 2017 /PRNewswire/ --
, the company operating Waste to energy treatment plants today announced a series of groundbreaking developments. has successfully secured $30.5 million USD from institutional investors collectively. This enables to complete its soft cap requirement facilitating the construction and realization of its first plant in its entirety. The realization of the plant insures widespread adoption for its coin since consumers can start paying for their utilities bills using the 4NEW services. Additionally, has also received a number of mandates to beta test its timed blockchain payment system concept from a number businesses within multiple and diverse sectors. "Our business to business strategy is demonstrating great results. We anticipate widespread consumer adoption through users of these businesses in 2018" said Sandeep Golechha.
's Initial Coin Offering (FRNC) for its utility token is currently underway for the general public ending December 15, 2017. While this coin does not provide investors any share of the corporate profits currently, given that it is strictly speaking a utility token which represents sale of future goods and services of , nevertheless, it does offer holders of the coin an opportunity to avail various services such as global money transfer services, insurance payments, telemedicine services, online pharmacy services and Waste and Energy bill payment opportunities starting 2018.
management is looking forward to listing on premier public exchanges such as Bittrex, Poloniex and Cryptopia in the coming weeks.
Earlier this month ordered the production of its first Waste to Energy plant for a staggering USD $24.83 Million with delivery and subsequent installation of equipment to occur within 6 to 8 months between May and July 2018.
The first plant will have a waste processing capacity of 72 tons per day of RDF, SRF, TDF, tyres, plastics, medical waste, carpets, textiles, wood wastes, oil liquid waste, chemical waste, raw food packaging, animal by-products and any type of hazardous and non-hazardous waste.
The plant will be able to generate 120 mega watts of power per day which totals 43,800 mega watts of power per year. As part of the deal, will also procure insurance coverage to secure its revenue from any equipment failure, or unforeseen acts of god.
The first plant will drive annual sales of approximately $5 Million USD under current capacity, however, can add additional waste processing lines to their plant as additional funds are raised thereby increasing output by 4 times per site. also has options with lenders to explore debt financing in order to complete targeted acquisitions over the next 6 to 9 months.
The plant equipment has been ordered through , a UK based plant production company. Eco-Green currently has three sites where their plants are in operational use. These include, 2 sites in Finland and 1 site in Denmark.
Last month, 4NEW successfully secured a $25 million round of funding from its first investor , a US based private equity fund.
About 4NEW
, will revolutionize and standardize the industries of Waste and Energy by offering services as a wholesaler within the Utilities sector that is fully integrated onto a decentralized, distributed ledger enabling all actors within the industry to trade waste and energy transactions using the Coins towards payments within the ecosystem.
The coins are utility tokens with built-in smart contract capabilities. They establish a binding relationship between two transacting parties and provide a value for each transaction. The ledger on the ecosystem provides an immutable and audit-able journal of all transactions related to the buying and selling of energy and waste. Each transaction is transparent to all parties which allows them to see the same ledger entry and cost of reconciliation thus controlling issues of dispute and revenue leakage to a great extent.
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SOURCE 4NEW Limited
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