Powerledger Expands into Solana Ecosystem, Aiming to Boost Sustainability

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Australian energy tech company Powerledger has made a major move by expanding into the Solana ecosystem, as announced on September 21. This decision marks a shift in the company’s strategy, aligning its sustainability goals with the fast-growing blockchain platform Solana.

The expansion to Solana comes amid a broader industry interest in Regenerative Finance (ReFi), a financial model aimed at restoring social, environmental, and economic well-being.

Powerledger and Solana’s Shared Vision

Powerledger’s spokesperson emphasized the shared values between the two organizations, stating, “At the heart of both Powerledger and Solana is a shared vision of innovation, sustainability, and transparency — values that are becoming increasingly critical as the world shifts toward ReFi.” This alignment, they said, is key to driving cleaner energy narratives within the blockchain space.

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ReFi, a relatively new financial concept, focuses on creating systems that prioritize societal and environmental gains alongside traditional financial returns. Currently, the total market capitalization for ReFi projects stands at around $110.57 million, according to data from CoinGecko.

Blockchain and Global Well-Being

Powerledger’s co-founder, John Bulich, also shared his vision for how blockchain can contribute to global well-being. He stated that expanding onto Solana “reinforces that crypto can be a force for good.” Bulich emphasized the importance of aligning financial innovation with planetary health, a sentiment shared by other industry leaders as blockchain increasingly intersects with sustainability efforts.

The move onto the Solana mainnet is seen as a strategic step for Powerledger. The company will cease operating its own Solana Virtual Machine (SVM) blockchain, transitioning fully to the Solana ecosystem. Having operated on the SVM for over a year, Powerledger gained valuable insights into the technology, which they believe will serve them well in this next phase of growth. “This expansion is a key milestone in building on an open and common platform,” the company noted.

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Additionally, Powerledger’s POWR token will now be available as a native Solana token while continuing to operate as an ERC-20 token on Ethereum. As of mid-September, POWR saw a price increase of 16.75%, trading at $0.22.

Powerledger’s blockchain-based energy solutions focus on peer-to-peer energy trading, virtual power plants, and trading carbon credits and renewable energy certificates.

This follows the September 13 announcement that Worldcoin is introducing seamless World ID integration to the Solana blockchain via a new cross-chain protocol developed by the Wormhole Foundation.