By Bitcoin.com PR — Oct 29, 2017 0 1380
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LONDON – 4NEW, the company developing Waste to Energy treatment plants today announced that it has successfully secured a $25 million investment from a leading U.S. private equity fund with over 400 million in assets under management. These funds will be allocated towards the purchase of 4NEW’s first plant site and equipment installation costs. With fundraising efforts primarily focused at institutional investors within the Presale round, 4NEW is observing significant interest and steady mobilization of fiat currencies into cryptocurrencies. Furthermore, with adequate capitalization attained to launch the first site, 4NEW is now opening its remainder of the Presale round to the general public.
In the midst of a volatile ICO market often plagued by fraud and illegitimacy, 4NEW has been able to demonstrate to its institutional investors a unique framework of self-governance in addition to government regulations and processes imposed upon the waste and energy industries collectively.
“With a global plan to scale this localized solution addressing the waste surplus and the energy shortfall crisis, 4NEW will not only revolutionize the blockchain network but also standardize digital assets as a means to transact business within a conventional setting making 4NEW the global utility token.” said the CEO, Sandeep Golechha.
Although, 4NEW intends to scale operations globally, the initial launch will occur in the United Kingdom. The UK’s waste management industry has a total annual turnover of $11 billion USD with approximately 200 million tonnes of waste processed per year. There are approximately 70,000 people employed in the sector across 3,000 companies. This market sector is under developed as technological advancements seen in other industries have been held back or are slow to materialize. The size of the UK waste market alone is over 120 billion USD annually.
The UK is also facing an unprecedented “energy gap” in a decade’s time, according to the Institution of Mechanical Engineers (IMechE). With demand for electricity likely to outstrip supply by more than 40%, widespread blackouts are within the realm of possibility.
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 4NEW Coins towards payments within the 4NEW ecosystem.
The 4NEW 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 4NEW 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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