Algaecoin: Token Aims to Raise Funds for Algae Biomass Protein Farms

2 mins
5 July 2022, 01:15 GMT+0000
Updated by Nicole Buckler
5 July 2022, 01:30 GMT+0000

Algaecoin is an asset-backed token that wants to help fund sustainable algae projects.

The world now has its first blockchain-based algae biomass project. It is built on the Tezos blockchain, which is energy-efficient.

Sustainable Impact Token (SIT) aims to develop, construct, and operate algae biomass farms. SIT say that they will use blockchain technology to “bridge the gap between two of the fastest-growing investor markets in the world – asset-backed finance and crypto.”

Algaecoin and Carbon Credits

SIT’s algae biomass farms can pump out high-quality, non-animal protein, using renewable energy. The algae farms can absorb large amounts of carbon out of the atmosphere.

Myles Milston is the CEO of Globacap, who helped find investors for the project. “Being part of this pioneering project marks an important milestone in our ongoing mission to enable frictionless asset creation and transferability. With Globacap, the capital raising process is completely digital, mostly automated, transparent, secure, and compliant. Our work with SIT and Tezos is transformational in the way this market can operate.”

The $5 billion algae biomass sector is projected to expand by a CAGR of 6.3% in the next 5 years. SIT says it provides investors “with tokens issued via smart contracts deployed on the proof-of-stake Tezos blockchain, representing their preferred shares in the project. Carbon credits generated from the algae production will also be tokenized into Algaecoin, a tokenized asset representing tradable carbon credits.”

Milston adds, “By bringing agri-tech solutions and carbon credit-backed assets into private markets and beyond, we can make significant, impactful steps towards sustaining our planet for future generations.”

Polygon claims to be squeaky green: In a collab with KlimaDAO, the Polygon ecosystem has retired $400,000 in carbon credits to offset greenhouse gas emissions.

Tezos Involvement

Mason Edwards works for the Tezos Foundation. “As solutions to the macro challenges of food scarcity and sustainable energy production continue to be a global priority, demand for investment vehicles that can also support these objectives are increasing.”

Peter Henderson is the Chairman of Sustainable Impact Token. “Our vision is to play our part in addressing some of the real challenges of our time – how can the growing world population be fed sufficiently, nutritiously and can this ambition be achieved in a way that improves, rather than harms, the environment? We believe our approach helps on all these fronts and know that the investor community is keen to join us on the journey.

“SIT presents a unique investment opportunity that is underpinned by our three core pillars: food security, renewable energy and carbon reduction. We wanted to structure the offering using an innovative, transparent and secure approach.  Investors are being offered an attractive return, in a real asset, but through digital technology – and they can make their investments through fiat or cryptocurrencies. Bringing the token offering to market has been amazingly smooth, which is a credit to our partners at GlobacapTezos and Lumin Capital.”

Carbon Credits

Cambridge University recently launched the Cambridge Centre for Carbon Credits (4C). This is creating a decentralized marketplace on Tezos. People buying carbon credits can fund trusted nature-based projects. In this way, they can tie together corporate funds and conservation, using automated and transparent global oracles.

Got something to say about Algaecoin or anything else? Write to us or join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.