Last Friday Nov 12, 2021, our CEO Armand Domuta joined the community on the telegram group to offer new insights on the RED Platform project and to make some important announcements. Below, you will find additional information related to what was discussed in the AMA, as well as the edited transcription of the AMA session.
RED Platform First Tokenized CO2 offset system and carbon market were launched on October 1st. Since then, the team has worked continuously to bring to users top sustainable projects from the carbon market, as well as new developments on the platform that will help users and RED franchises to offset their personal and their company clients’ carbon footprint.
RED’s newly launched platform is equipped with everything necessary to allow interested users to open a business in sustainability by helping companies offset their carbon footprint. This opportunity is offered through the acquisition of a RED Country Franchise. By acquiring a franchise, you have access to the tools for buying carbon credits and offsetting a carbon footprint for any company that desires to do so and use blockchain for the process. Innovative. Traceable. Trustworthy.
Franchises are RED’s business partners in each country. This gives them authority and the capacity to act in the company’s name and remain strongly anchored in a rapid-growing business that is constantly updated with the latest technology related to sustainability.
The future for RED users is not only bright but growing at an accelerated pace through the creation of tools, strengthening of business relationships and partnerships. For the next months, RED is expanding on different fronts:
Corporate Carbon Footprint Calculator
A new tool will be made available for companies and franchises. The carbon footprint of a company can be calculated directly on the RED Platform. This will give franchisees an easy-to-use technical tool to provide companies with an accurate calculation of their carbon footprint based on a built-in calculator.
Addition of new projects by project developers
Sustainable projects developers will have access to upload new sustainable projects on the platform and tokenize their carbon certificates. The carbon certificates will be found on the RED platform in the sustainability marketplace with the complete information of the project for the users to be able to trace its origin.
A new feature is scheduled for implementation in 2022, that will allow project developers and franchisees to create new tokens on the platform. Along with this feature, users will also have access to proposing new sustainable token claim schemes based on different tokens than GTK.
Adding new claim schemes
Opening a new option for the platform users to participate in the generation of token claim schemes for sustainable actions, MWAT token holders will contribute actively to the development of the RED Platform.
Since the launch of the project, the team has continuously grown our team in different areas. We are expanding in customer care and community management, where we already have 4 people working (surely you have talked to at least one of them already), business development where we are in advanced discussions with future members of the team, sales.
USA and Canadian users to join the RED Platform
Because of the different regulations that are in place in the USA and Canada, users were not able to use the RED platform. However, the team is working to change this and give American citizens the opportunity to join the RED platform.
Casiana, from our partner firm Carbon Expert, as Head of Sustainability and Carbon Offset at RED, is in charge of selecting the best-fit project from the already existing ones on different international platforms. In addition, she will also oversee the new projects’ approval process on the platform.
This week, we are launching via our swiss holding company, Restart Energy Innovative Technologies AG the First Sustainable STO. The STO is a funding event where the company expects to raise 7.99 million CHF.
You can join the Meet the CEOs event today here: https://app.zoon.ch/en/event/daura-community-event-meet-the-ceos-1.
Edited transcript from the group Telegram chat from the AMA event:
Armand RED: Hello RED’s!
Armand RED: What’s cooking here?
Armand RED: I hope everyone is healthy and safe during these dark times
Armand RED: Our team here in Romania has recently been hit by Covid quite hard including me, but we are feeling better and recovering.
Armand RED: I wanted to give you an update
Armand RED: We’ve had 2 very brutal months unfortunately due to this energy and gas crisis in Europe
Armand RED: Starting with the beginning of the year, some large investment funds started speculating on Carbon prices in Europe
Armand RED: Consequently, CO2 increased 200% to 60 Euro/tone
Armand RED: This made coal power very expensive because coal producers have to purchase 1 CO certificate per ton of CO2 emitted
Armand RED: They have to buy almost 1 certificate per MWh
Armand RED: And the way the energy pricing mechanism works in Europe is that the most expensive energy which is coal and gas is setting the market price
Armand RED: The fast economic recovery created a large demand for power and gas, but gas deposits were empty due to a cold spring.
Armand RED: With empty gas deposits and no gas from Russia, the energy traders in Europe went berserk and bought every molecule of gas they could find from any market.
Armand RED: So what happened is a black swan event in energy, gas increased 500% (more than BTC :))). Such expensive gas made coal power profitable again.
Community member: Sounds like a good time to Double-Down on DER and Solar…
Armand RED: baseload thermal power plants swapped gas for coal in their fuel mix. This added more pressure on CO2 prices. I’m sure you heard many energy and gas suppliers went bankrupt all over Europe. We had similar problems dealing with it in Romania which is fully interconnected with the EU markets. Two of our gas suppliers (one being a producer) acted in bad faith and illegally, denounced our forward contracts preferring to sell their gases on the spot market at higher prices. This in turn led to a lot of problems having to buy missing quantities from the spot market. We are now trying to recover the damage caused by these companies in court.
But in order to decrease the financial pressure on our company, we made a strategic decision to give up gas supply entirely and focus on green energy and renewable solutions.
This decision will have a positive impact on our financials for next year and give us the additional resources needed to focus on green energy.
I’m only telling you this so that you have an idea of why sometimes things move slower than we want them to.
Moving back to RED, I’m very proud of our launch, and our team is working as we speak on the following important developments:
1) USA users will be able to join the RED Platform soon.
2) We have a new valued member of our team, Casiana Fometescu, the Head of the Romanian Carbon Association and the foremost expert in carbon offset and sustainability in Romania. Casiana will take a leading role in our Carbon Offset development!
3) Our IT team is working behind the scene to implement what we consider to be important features and USP for our platform like the Corporate Carbon Footprint Calculator, the ability to list and validate Certified Sustainable Projects on our platform, the NFT Marketplace, the RED Sustainability Launchpad for users and companies to launch their own ESG tokens on RED and of course the Zalmoxis Tokenizer for franchises and NFT PPA’s.
4) The new WP is progressing and will be ready soon.
And now for the big news
Next week we are launching via our swiss holding company, Restart Energy Innovative Technologies AG the First Sustainable STO!!!!
Community member: This is great news @Armand_RED — RED is looking at some unprecedented growth over the next few years! 💪🚀
Armand RED: As you all know and can witness on the platform, renewable energy producers can already tokenize their green energy origin via REO-G tokens either manually or automatically via inverter API.
The next step will be to allow producers to use the Zalmoxis Tokenizer for creating unique Power Purchase Agreements in the form of NFT tokens that can be sold on the marketplace
So the energy contract will be a token that you can buy
Community member: Sounds cool
Armand RED: I’m not really a fan of inspiring our competitors so no more details here 🙂
Community member: Great update, better than expected 👏
Community member: Well done. This level of ‘Plug & Play’ integration will have a huge impact on adoption and growth.
Armand RED: We have 5 main product lines that will drive future growth for the platform 1) Carbon Offsets 2) Renewable Energy 3) ESG Attributes 4) Franchises 5) SaaS
Community member: Awesome 👌
Community member: Agreed, we’re in solid hands. I think the only FUD left after this is how the use case of MWAT can explode.
Community member: All sounds great, just need to see USA open 😅, will ease my emotions 100% lol
Community member: Armand, will the issue of ST on Kucoin be settled, can we sleep well in this matter? I would very much not want MWAT to be deleted …
Community member: +1 to attract new investors Is needed
Community member: And another question @Armand_RED originally it was said that we as an MWAT-Token Holder can Participate in the STO (with a discount?!)🤔🤓👍
Community member: Hi Armand, any update on the first experience of the non-US franchises?
Community member: Great Update.
Community member: When you mention ESG, I’m assuming it’s for Environmental, Social, and Governance.
Community member: Are there plans to align with institutions such as the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI), and the Task Force on Climate-related Financial Disclosures (TCFD) that are working to form standards and define materiality to facilitate the incorporation of these factors into the investment process?
Community member: In other words, will the RED ecosystem eventually have a line of products for the involuntary market meeting regulatory requirements?
Armand RED: Bogdan, Restart Energy was here before and will still be here long after Kucoin. And yes we are working on clearing the ST and on a marketing campaign with them.
Armand RED: Being security under SWISS regulations, it’s not possible to offer discounts
Armand RED: Yes and we are going to work together with the UN on such solutions
Community member: Is this STO accessible for normies like me? Or only accredited investors
Community member: Impressive. You guys think big. Nice to see.
Armand RED: Yes. It’s accessible also for non-accredited
Community member: Any min. requirement investment?
Community member: What an update, the future looks bright