Powerledger Expands Into the Solana Ecosystem, Citing Shared Values Amid Wider Interest in ReFi

“At the heart of both Powerledger and Solana is a shared vision of innovation, sustainability and transparency"

Australian energy tech company Powerledger is expanding into the Solana ecosystem, aiming to integrate its clean energy narratives and products with the network.

A spokesperson for Powerledger told Cointelegraph on Sept. 21 that the collaboration is driven by shared values, including a focus on innovation, sustainability and transparency.

“At the heart of both Powerledger and Solana is a shared vision of innovation, sustainability and transparency — values that are becoming increasingly critical as the world shifts toward ReFi and sustainability.”A spokesperson for Powerledger highlighted the integration’s goal of advancing “the clean energy and sustainability narratives within the blockchain space.”

According to the spokesperson, the integration is a “significant step in aligning financial innovation with planetary well-being.”

Meanwhile, Powerledger co-founder John Bulich emphasized the broader implications of the expansion, highlighting the common goal of sustainability that transcends ecosystems.

“This next step in expanding onto Solana mainnet is not only increasing the narratives of clean energy within the blockchain space but also underscoring that sustainability is a common goal that transcends ecosystems, reinforcing that crypto can be a force for good.”Powerledger to cease operating SVM blockchainThe integration will see Powerledger products operating on the Solana mainnet, while the company will cease operating its own Solana Virtual Machine (SVM) blockchain.

According to the announcement, Powerledger has been operating on the SVM blockchain for over 12 months, which it claims has provided the company with “valuable expertise on how to make best use of the SVM technology.”

“This next step in expanding onto Solana mainnet is a key milestone in building on an open and common platform,” it added.

The Powerledger (POWR) token will also be available as a native Solana ecosystem token while also remaining an ERC-20 token. According to CoinMarketCap data, at the time of publication, POWR is trading at $0.22, up 16.75% since Sept. 14.

Powerledger’s blockchain-based transactive energy solutions include peer-to-peer energy trading, virtual power plants and trading in carbon credits and renewable energy certificates (REC).