Millennium BlockChain, a holding company focused on blockchain technologies and crypto-assets, today announced it completed negotiations and entered into a letter of intent with ImpactPPA, a decentralized renewable energy platform, to purchase rights for future ImpactPPA tokens and warrants in ImpactPPA’s parent company in the aggregate amount of $3 million.
Within four months following the closing of the token portion of the transaction, Millennium BlockChain has the option to purchase equity of ImpactPPA’s parent company. ImpactPPA’s MPQ token is planned to be used to fund renewable energy projects in the developing economies of the world and allow the MPQ community to vote on and approve which projects to fund and is currently available in private pre-sale.
“ImpactPPA stands out as not only having a huge addressable market, but also a winning team and business model coupled with working product,” said Brandon Romanek, CEO of Millennium BlockChain. “That clearly sets them apart from many of the other blockchain companies in the pre-sale stage.”
“Millennium BlockChain’s investment should allow us to quickly ramp up our clean energy deployments, and beyond that, they really understand the value we can bring to the blockchain community and the world,” said Dan Bates, CEO of ImpactPPA. “They are huge advocates of what we do, and supporters of the clean-energy future we can enable.”
Millennium BlockChain’s goal is helping to make blockchain technologies a new asset class for the stock market, and deploying capital to help emerging companies ascend to the next level. The new partnership is designed to enable ImpactPPA to begin delivering on its expanding list of Smart Power Purchase Agreements (SmartPPAs), which allows end-to-end management of clean renewable energy on the blockchain.
ImpactPPA has created a model of deploying renewable energy systems in developing nations using blockchain technology. The company, with its strategic partners, has a pipeline of projects totaling approximately 183 megawatts, and when fully realized, is projected to generate an estimated $1.7 billion in revenue over the life of the SmartPPAs.
“This is a real business with real technology,” said Enzo Villani, chairman of Millennium BlockChain. “ImpactPPA’s products and pipeline are game changers with a real-world solution with which we are proud to be associated with.”