Energi Mine, a blockchain and artificial intelligence energy solution provider, based in the UK, has reached its USD 15 million funding cap, the company announced on Friday, having raised the remainder of its target — USD 4 million — in the first 81 minutes of its public sale.
Energi Mine, headquartered in Oldham, states that it is now preparing to launch its new cryptocurrency, ETK, which will be used to reward people consuming less energy.
There are currently no visible incentives to save energy, states the company; the ETK Token will be offered to people displaying energy-efficient behavior, taking low-carbon transport and buying energy-saving appliances. ETK token holders will also be able to pay for electric bills and charge electric vehicles using the currency.
Energi Mine says it is developing the UK’s first crypto-payment system for electric car charging points.
“The global interest in this ICO has been astounding, said Energi Mine CEO and founder, Omar Rahim. “Investors have bought into our vision to revolutionize and reinvigorate the stagnant energy market using blockchain.”
Energi Mine advisors include the co-founder of TechCrunch, Keith Teare; Carbon Managers Association founding chairman and former Liberal Democrat spokesman for energy in the House of Lords, Lord Rupert Redesdale and CEO of Coinsilium, Eddy Travia.