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Pyse Moves $7M Sustainability real world assets from Web2 to Web3 on Polygon

Wednesday, 18 October 2023 06:10 AM

DUBAI, UAE / ACCESSWIRE / October 18, 2023 / Pyse, the groundbreaking web2 platform that emerged in India in 2021, is making waves with its move to web3, by collaborating with and using Polygon to bring its green assets on-chain. Launching initially in India with a formidable investor community of 7,000+, Pyse has championed investments in transformative sustainability projects, including renewable energy, EVs, and water recycling. These investments have allowed individuals to offset their environmental footprints while realising tangible financial returns.

"Many perceived green initiatives as either prohibitively expensive or purely philanthropic," says Kaustubh, Co-Founder at Pyse. "At Pyse, we're bridging the gap between sustainability and profitability. Historically, green assets - a sector where sovereign funds and HNIs thrived - were exclusive. We're opening access to this market, enabling anyone to participate in a market that helps our planet and your wallet!

In its initial 2 years, Pyse successfully built assets worth over $7 million, primarily for highly-regarded entities in India. Fast-forward to today, the company is setting up its operational base in Dubai, marking its maiden venture outside India and into the UAE. This foray coincides with their expansion to web3, enabling tokenization of assets across India and the GCC, starting with the UAE. Pyse is primed to list an array of promising EV and Solar projects in prime regions like Dubai, Abu Dhabi, and Ras Al Khaimah. Their web3 debut will feature an exciting EV leasing deal for some of Dubai's top-tier 3PL companies.

"By harnessing the latent potential of real-world asset tokenization, Pyse is leading the charge by offering greater accessibility to transparent and lucrative green investments," said Sanket Shah, Head of Growth at Polygon Labs." Polygon Labs has always strived toward sustainability via its environmentally conscious approach to blockchain development, which is why the Polygon protocol is already carbon-neutral and has committed to becoming carbon-negative in the foreseeable future. This is why Polygon is a perfect fit for eco-focused platforms like Pyse, and we are excited to help them power a greener future on-chain."

The forecast for the tokenized real-world asset market is promising. Expected to catapult from US$310 billion in 2022 to a staggering US$16.1 trillion by 2030, green assets are predicted to constitute over 20% of all on-chain listings.

With a formidable foundation of industry knowledge, Pyse's core team boasts not only over 40 years of combined experience in renewable energy and sustainability but also a track record of adeptly managing more than $100 million in green renewable energy assets. This wealth of hands-on experience has empowered Pyse to craft cutting-edge technology solutions. Leveraging preemptive and predictive analytics, they ensure optimised asset operation and maintenance, leading to enhanced asset performance and consistently strong returns for investors.

Integral to Pyse's innovative approach is its robust 'Pyse Verified' risk assessment matrix. This matrix meticulously identifies the industry's best projects, led by the most creditworthy clients, thanks to its rigorous credit risk checks. Furthermore, it provides an in-depth revenue risk assessment through mechanisms like security deposits. On the performance front, only projects employing top-tier equipment, such as high-performance solar modules and EVs, pass the matrix's stringent standards, ensuring optimal output and reliability. Moreover, to address operational and maintenance risks, the matrix mandates the inclusion of appropriate insurances and warranties. This comprehensive system not only boosts investor confidence but also guarantees the viability and longevity of the green assets Pyse advocates for.

As Pyse charts its ambitious roadmap for the near future, the target is clear: catalyse the development of green assets worth over $40 million across the GCC and India while neutralising an impressive 60 million tons of CO2 by 2024.

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PRESS CONTACT:
Jon Reader
[email protected]

Pyse, established in 2021, is a leading climate finance platform dedicated to democratizing green and clean asset ownership for all. Managing over $8 million in web2 assets, Pyse has expanded globally into web3, introducing impactful projects that benefit both the planet and investors on chain.

SOURCE: Pyse

Topic:
Environmental, Social and Governance
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