peaq, the pioneering blockchain for real-world applications, is partnering with penomo to create a network of tokenized batteries. penomo, a platform specialized in generating revenue from renewable energy companies, especially those that reuse or recycle electric vehicle (EV) batteries, will transform these batteries into a decentralized physical infrastructure network (DePIN). This network will reward Web3 investors by generating revenue through, for example, the sale of carbon credits.
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Lithium-ion batteries are critical for green energy storage and electric vehicles, but come with environmental costs due to lithium mining. Renewable energy and battery recycling companies are struggling to secure revenue and liquidity, hindering the transition to environmentally friendly energy.
penomo offers a streamlined solution for environmentally conscious energy companies. By tokenizing their batteries, these companies can gain access to global capital and liquidity by sharing future revenue with the Web3 investor community. They can also benefit from selling carbon credits and carbon credit futures, creating three potential revenue streams.
penomo leverages peaq’s core features, including multi-chain IDs and peaq pay, for fractional ownership within its DePIN.
With the help of peaq, penomo’s app tokenizes batteries, distributes investor rewards, and facilitates the sale of carbon credits across the chain.
penomo, developed by EoT Labs, already has four letters of intent with energy storage and recycling companies, including Evyon. Discussions are underway for paid proof-of-concept and co-development with major multinational companies, supported by support from ten leading companies, including car manufacturers and energy companies.
Jasvir Dhillon, co-founder of penomo, also leads a Fraunhofer HHI project using AI to improve the sustainability of EV batteries. “It is encouraging to see that there is so much market traction for penomo’s solution,” says Jasvir. “Several decision makers from relevant companies contact us themselves, even though we have not yet spent a cent on marketing.”
“We’re excited to build a solution that embraces regenerative finance ideas by combining sustainability with business innovation. As a layer-1 built for DePINs, peaq is the perfect home for a project like this, with convenient, pre-built features and custom created functions.” economics on the table,” Jasvir added.
Till Wendler, co-founder of peaq, recognizes penomo’s role in addressing sustainability challenges within the energy storage sector. He highlights the opportunity for the Web3 community to invest in sustainability and for companies to adopt peaq’s blockchain.
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About penomo
penomo is a revenue generation platform for companies in the field of sustainable energy storage and EV battery recycling. It allows companies to tokenize their batteries, add them to a decentralized physical infrastructure network, and offer tokens to the global Web3 community. Investors receive a share of the revenue generated by batteries. penomo also enables the sale of battery data, carbon credits and carbon credit futures on a borderless Web3 marketplace.
About peak
peaq is a blockchain designed for real-world applications that enables the creation of decentralized applications (dApps) and decentralized physical infrastructure networks (DePINs). It works with industry consortia, such as Gaia-x moveID, to shape the future of smart mobility, energy, connectivity and other vital industries in the real world. peaq aims to democratize abundance in the age of AI-driven automation by enabling ownership, governance and revenue from the devices and infrastructure used.