Millennium BlockChain, Inc., a holding company focused on blockchain technologies and crypto-assets, today announced that it has 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 would have 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.
“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.
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