FCA announce EnergiMine participation in the Green Fintech Challenge
The FCA has today announced the participants of the Green FinTech Challenge. EnergiMine, a start-up based in Manchester, has successfully been accepted on the FCA’s Green FinTech Challenge.
The challenge is aimed at firms developing innovative financial products and services that assist in the UK’s transition to a greener economy.
CEO at EnergiMine, Omar Rahim, comments: “We are delighted to have been successful in the application for the FCA’s Green FinTech Challenge. The first step in the fight against climate change starts with the promotion of energy efficient behaviours. We need to drive incentivisation towards carbon neutral methods of transportation, which make a significant difference on our planet’s future and can make a real change towards tackling carbon emissions.”
EnergiMine will trial their EnergiToken blockchain platform later this year for the Green Fintech Challenge, which would focus on incentivising individuals on using low carbon transport from their approved partners.
The partners involved in this initial trial will be nextbike – a bike sharing provider, eGen Scooters – a leading provider of electric scooters and 3F EV – an all-electric Tesla rental company. A financial incentive is given for saving energy and green behaviours in the form of a digital token named EnergiToken (ETK). Consumers can then use EnergiTokens (ETK) for a means part payment for their services.
The FCA received 22 applications in total for the Green FinTech Challenge, which had to pass through their stringent eligibility criteria. The FCA stated that “9 firms have been accepted and will receive support across the range of FCA Innovate’s services.” The FCA continues “The FinTech Challenge is a pilot approach for FCA Innovate. This involves us taking a more active role in driving innovation in an area where we see a clear benefit to UK consumers and markets. The pilot FinTech Challenge focuses on firms developing innovative solutions to assist in the UK’s transition to a greener economy.”
Get involved today, help be a part of the change! For more information about EnergiToken and its energy-saving reward scheme or to become a partner, visit www.energitoken.com, follow along on twitter at @EnergiMine or join the EnergiMine Telegram group.
EnergiMine
EnergiMine is a blockchain and artificial intelligence energy solutions tech company based in Manchester. The company currently manages over $300 million worth of energy on behalf of its customers, looking after approximately 3,000+ global energy sites.
EnergiMine is disrupting the global energy markets by creating a platform for financially incentivising energy saving behaviour, rewarding individuals with tokens (ETK) with the goal of reducing global energy consumption.
EnergiMine is being advised in the UK by EY and Gateley plc.
nextbike
nextbike UK Ltd is a daughter company of nextbike GmbH, the world’s most extensive bike-share provider. With over 150 schemes worldwide, including eight in the United Kingdom, no other bike share provider offers as much coverage as nextbike.
Operating across 25 countries in 4 continents allows users to easily find and hire bikes at an hourly rate through a mobile app. This encourages daily commuters to use bikes rather than fuel-based vehicles, significantly lowering a user’s carbon footprint whilst also incorporating exercise into their daily routine.
EnergiTokens will be awarded to nextbike customers for their contribution to carbon emission reduction through their choice of energy efficient, green transportation.
eGen Scooters
eGen Scooters is a leading provider of electric scooters, powered by high quality lithium batteries. Actively contributing to the provision of greener transport, suitable for work, and leisure activities, eGen Scooters have the potential to significantly reduce carbon emissions by providing industry-leading alternatives to fossil-fuel based methods of transport.
eGen Scooter customers will be rewarded with ETK for reducing the number of pollutant vehicles on the road, positively contributing to a greener, more sustainable environment.
3F EV
3F EV is an all-electric Tesla rental company, offering their clients rental, sharing, and executive chauffeur services. They believe that future transport should be 100% electric, connected, fully autonomous and shared, and are dedicated to protecting the environment by providing methods of sustainable motoring.
Through the integration of the ETK Rewards Platform, consumers who use 3F EV services will be rewarded with ETK for choosing low-carbon transportation.
