Concerns of climate change drive launch of renewables token

Concerns over climate change has driven a new company in Scandinavia to launch a blockchain project that will ultimately result in investments in renewable technology in the region.

Two energy entrepreneurs are behind the Northern Lights Token, an ERC20 governance token, issued on the Ethereum blockchain. When tradable, the token will be initially launched on the Uniswap decentralised exchange. Its official launch is planned for later in April.

Markus Winfridsson, a serial entrepreneur with numerous successes in the energy space including Sumer and Stella Futura, and Christoph Thiel Heyerhoff, an expert in building state-of-the-art energy storage solutions, are backing the project, which they claim will disrupt and decentralise the energy markets in that region.

The idea was conceived partly as a result of the growing energy crisis that Scandinavia is facing. The project also delivers on three of the 17 sustainable development goals set out by the United Nations: affordable and clean energy, sustainable cities and communities and climate action.

The company also said its mission is to decrease carbon dioxide from energy production by developing solutions for the production of renewable energy, whilst decentralising the production and storage of energy.