Ripple announced that it has invested $ 44 million in one of the cryptocurrency financial funds Nelnet Renewable Energy, created to develop solar energy.
Ripple will be the main investor in the fund, which will finance all US solar projects. Thus, the company realizes the common goal of the cryptocurrency industry, aimed at reducing the carbon footprint through the development of alternative energy sources.
The companies estimate that the joint venture-funded solar energy projects offset more than 1.5 million tonnes of carbon dioxide over 35 years. About the same amount of carbon dioxide emissions are generated from the use of 154 million gallons of gasoline.
Ripple’s head of social development, Ken Weber, believes that ensuring clean energy is a top priority for every industry, not only to drive future economic growth, but also to sustain the earth’s ecology.
“As the adoption of cryptocurrencies and blockchain continues to grow, it is clear that green technology will be at the heart of our future financial systems,” Weber said. “This is not Ripple’s first green partnership. Our company has been a member of the Crypto Climate Accord for several years, the goal of which is to ensure 100% transition of the industry to renewable energy sources by 2030.
Recall that earlier the US Securities and Exchange Commission (SEC) accused the company of violating the securities law. However, Ripple is not going to give up. The company recently accused the US Commission of bias because the SEC does not acknowledge or deny the facts presented by the company. Prior to this, the Court of the Southern District of New York rejected Ripple’s petition to provide information about XRP transactions that were made by SEC employees.
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