- Ripple puts $44 million into Nelnet for a greener future.
- Nelnet’s initiative focuses on powering the US with solar energy.
- This clean energy fund hopes to give the world a more sustainable future.
Ripple, the leading crypto and blockchain solutions provider has chosen to invest in Netnet Renewable Energy to bring forth a greener and more sustainable future. The latter is a Nelnet business focused on solar energy projects.
In detail, Ripple has put in $44 million in Nelnet’s solar energy investment fund. The clean energy brand is funding solar energy projects across the USA. Together, they hope to elevate the switch to a clean and stable energy source for the future.
This joint investment, funded majorly by Ripple, will lead to the reduction of over 1.5 million tons of carbon emissions in the US. This accomplishment should come about in 35 years. To put this into perspective, statistically, this amount of carbon dioxide is equal to about 154 million gallons of gasoline.
The Head of Social Impact at Ripple — Ken Weber, says that a guaranteed clean energy future is a top priority in every industry. Besides driving future economic growth, it also promises a more sustainable future for the world. In addition, he says
“As the adoption of cryptocurrencies and blockchain continues to grow, it’s evident that the technology will underpin our future financial systems.”
Finally, he concludes by saying that Ripple is very excited to work with Nelnet. As partners, Ripple can pursue its commitment to reduce the global carbon footprint of financial services. Moreover, Ripple can also deliver on its promise of becoming a carbon-negative crypto firm.
Meanwhile, the Executive Director of Nelnet Renewable Energy — Scott Gubbels, also shares his piece. He says that the feeling is mutual as Nelnet is also ecstatic by this announcement.
He also highlights the fact that investments such as this one will help in many other ways as well. For instance, it will help create jobs. Most of all, it will bring cost-competitive energy into the market whilst promoting sustainability for many years to come.
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