Tuesday, 07 December 2021 08:51 GMT

Announcing the Launch of RED Platform - the First Tokenized CO2 Blockchain Offset System


(MENAFN- GlobeNewsWire - Nasdaq) TIMISOARA, Romania, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Restart Energy, one of the well-known independent electricity and natural gas suppliers from Romania, is thrilled to announce the launch of the RED platform - the first tokenized CO2 offset sustainability system on the market.

The RED platform aims to help companies and individuals to become sustainable by increasing the production of green energy, setting incentives to increase the consumption of green energy as well as developing and supporting sustainable projects. RED supports the UN's Sustainable Development Goals by launching and promoting sustainable projects based on blockchain technology.

The RED platform is the first blockchain-based CO2 offset and sustainability system designed to revolutionize the way companies and individuals interact with energy and the CO2 offset systems while also incentivizing renewable energy producers and consumers. Since its inception, RED has always been focused on innovation and sustainability, pioneering new paths for a greener planet. The company began developing renewable energy projects in 2010 and later became one of the largest solar developers in Romania. The launch of RED Platform is set to begin on October 1st - a worldwide premiere.

"Our company saved millions of tons of CO2 from the atmosphere by delivering clean renewable energy to its customers. Last year we even received the Guinness World Record for the longest journey with an electric car in a single country. Today, we are launching a revolution in sustainability, a platform that is meant to become a global marketplace and business ecosystem for sustainability, incentivizing both individuals and companies alike to participate and unlock previously untapped value." -- founder and CEO of Restart Energy, Armand Doru Domuța

Value and recognition are the real currency of the RED platform. Built on the state of the art blockchain technology, the RED ecosystem allows individuals, companies to calculate their carbon footprint, claim tokenized carbon credits for their positive environmental actions, and burn the credits in exchange for unique sustainability certificates in the form of NFTs on the blockchain. It's fully compatible with Ethereum, thus, users can withdraw tokens issued on the RED platform to their Ethereum private wallet but with 1000 times less energy consumption, zero emissions, near-zero gas fees, and up to 300,000 transactions per second.

The RED platform is offering outstanding solutions to CO2 emission problems through the following ways:

  • It offers incentivization to green energy producers through the CO2 offset system by giving free Green Certificates of Origin, REO-G tokens.
  • It gives users rewards for using green energy.
  • It provides the opportunity for companies to reduce their CO2 footprint by supporting green energy producers and other sustainable projects on the platform.
  • The offset system comes in the form of GTK and REO-G tokens that are minted on the blockchain.

Green Token (GTK)

Green Token (GTK) is an ERC Token that monitors CO2 offsets. They're minted for all users who execute green actions based on a rigorous validation scheme inside the RED platform. Purchasing 1 GTK is equivalent to eliminating 1 kg of CO2 or any other greenhouse gases like CH4 from the atmosphere. When a user makes a validated "claim", RED mints GTK. It can be traded on the RED Exchange, and withdrawn in Ethereum wallets and third-party exchanges. Users can utilize this token to offset their carbon footprint by claiming a Green Certificate of Sustainability on the RED platform.

Renewable Energy Origin - Guarantees (REO-G)

REO-G, the Green Certificates of Origin for renewable energy producers are minted on the blockchain as ERC-721 NFT tokens. Purchasing 1 REO-G is equivalent to reducing 750 kg of CO2 from the atmosphere. It can also be traded on the RED exchange and withdrawn to a user's wallet or other exchanges. REO-G acts as a guarantee of origin, ensuring untampered traceability.

Using the platform's MWAT token, any user can buy RED franchises, buy REO-G or GTK, transfer MWAT to other users, store or withdraw from their Ethereum wallet, or trade it on the RED exchange.

Saving the earth is all about teamwork. With the RED platform, users can reduce global emissions. RED makes CO2 offset rewarding, transparent, and accessible for all users by providing a user-friendly framework with minimum overhead for consumers and companies on blockchain technology with an efficient token economy.

RED is set to expand with the first tokenized franchise business system, where the entire business is an NFT token that can be withdrawn or sold at a certain point. It intends to offer franchises access to simplified blockchain tools to help companies tokenize everything including any kind of business process, contract, artistic creation, or information with the platform's unique Zalmoxis NFT Token Generator and NFT Marketplace. Franchises can help guide organizations to launch their sustainable projects or products by creating unique tokens and validation schemes linked to the projects. RED will create a liquid tokenized marketplace for rewarding sustainability worldwide connecting exciting projects to impact investors and sustainable companies.

The RED platform already has quite a number of projects in the pipeline for tokenizing renewable energy, carbon offset, and even launching new ESG tokens. Leveraging industry experts that act as validators in the platform, RED will validate the CO2 offset of users products on the blockchain and provide them with the carbon credits for their customers through unique QR codes printed on each product and purchase receipt to enable the customers to redeem, sell or burn the carbon credits on the RED platform.

About Restart Energy

Restart Energy is an independent electricity and natural gas supplier for homes and companies, with Romanian-American capital, established in 2015 in Timisoara, Romania. From its very beginning, Restart Energy was a company focused on innovation and sustainability. Restart Energy started developing renewable energy projects in 2010 and soon became one of the largest solar developers in Romania. The company saved millions of tons of CO2 from the atmosphere by delivering billions of clean KWh of renewable energy to its customers. They are also a Guinness World Record holder for sustainable mobility for the longest journey ever made with an electric car in a single country in 2020.

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