Tokenizing Green Energy With Ecowatt Founder Thomas Puskas

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Dustin Plantholt   Brand Contributor

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Tokenizing Green Energy With Ecowatt Founder Thomas Puskas

CEO of Ecowatt Thomas Puskas at The Future Innovation Summit Dubai.

It’s uncommon for businesspeople in their fifties to venture into the blockchain industry, but it is almost unheard of for successful ones. Thomas has a rich history in corporate enterprise, with a career that started in the late eighties as a partner in a real estate firm. Then, in the early nineties, Thomas privatised a food processing plant and expanded production manifold. It was here that he saw the opportunity of alternative energy.

“The food wastage was outrageous,” Thomas asserts. “As an efficient economist, I couldn’t justify it, and immediately went about researching solutions.”

The most obvious was its conversion into biogas. Using “anaerobic digestion” Thomas and his team of engineers were able to reduce the wastage of their food stock by over 70%, and more importantly, create energy for the factory and sell the excess back to the national grid. All this unfolded in the early 2000’s, when Europe was rolling out significant alternative energy incentives.

The electricity production was astounding, and the business opportunity was obvious to him, but the bureaucracy of Western Europe caused him to set up shop in Ukraine, on Europe’s eastern borders. By 2013, Thomas assisted in developing power plants producing 950 megawatts (MW) of energy from solar and biogas.

The demand for affordable, alternative energy was there. And Eastern Europe had opened their arms to new ventures of this nature.

So why this new probe into digital assets? Thomas had been a successful alternative energy merchant for the better part of 21 years, what was the need for such a drastic transition?

Thomas didn’t see it as drastic. Besides the fact that this technology is the future of investing, there is considerable opportunity in Europe for this kind of enterprise. Retail investors are locked out of most impact projects such as green energy, and yet a significant percentage of them are looking for ways to get involved. The tokenization of projects allows that to happen.

Hefty minimum thresholds restrict many Western European investors from partnering in green infrastructure. It’s prohibitive, and counter-intuitive for a continent frantically trying to transition into renewable energy.

Ecowatt’s mission is simple: Efficiently roll out green infrastructure in financially viable locations around the world and tokenize this infrastructure in a digestible investment package—using blockchain.

Written on the Polygon blockchain, Ecowatt tokens can be staked in return for their “Carbon Tokens” which in turn can be used for purchasing Ecowatt NFTs or Carbon Certificates.

“Our primary aim is to build a Green Asset Portfolio of both renewable energy and carbon capture infrastructure,” Thomas explains. “These assets will generate considerable returns in the form of electricity sales and carbon credits, and significant portions of those profits will find their way back into our own digital asset economy, handsomely rewarding token holders.”

Ecowatt currently has a pipeline of almost 500 MW of wind and solar energy projects under management in Romania, Serbia, and Hungary. In addition, the company has planted more than 250,000 trees in Uganda and Kenya as part of their carbon capture initiatives.

EcoWatt’s goal is to plant 100 million trees in Europe by 2025. Ambitious, but not impossible. On average, one tree absorbs 21 kilograms of carbon per year, and with carbon credits currently selling for $9 per metric ton, Ecowatt should be generating $18 million per annum by 2025 on these alone.

“Of course, it is likely that carbon credits will be even more valuable by then anyway,” he adds with satisfaction. “This is some of the most meaningful work I have ever done in my life. Not only are we building significant green infrastructure that is helping the fight against climate change, but we’re also making investment into our company available to anyone that so desires.”

It’s a noble ambition when one considers that the company has already raised more than $110 million from private equity that includes the likes of Global Emerging Markets Limited and an insurance wrap to the value of $115 million by E3 Brokers in London. It’s rare that companies with such substantial institutional backing would make their offering available to the retail investor, but that is clearly his goal.

Perhaps that’s why Thomas exudes a contentment with life that is rare among executives of his stature. If Ecowatt can achieve all they’re aiming for in the next few years, it’s likely this contentment, much like his company, will be exponentially greater than it is now.

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Dustin Plantholt   Editor