An Australian startup is planning to introduce what it says will be the first cryptocurrency backed by energy assets after buying a pair of small-scale solar and battery projects for more than $1 million.
The token, called Asset Germination Event, will allow buyers to invest in a commercial-scale rooftop solar array that can meet the needs of a large industrial customer and a 670-kilowatt grid-connected battery that will serve about three dozen households, according to Jemma Green, chairman and co-founder of Power Ledger, a developer of decentralized energy trading and financing platforms. Both projects are in Perth, Western Australia.
“Everyday ...
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