Blockchain and web3 IP library nChain has invested €2 million and acquired a 20% stake in the equity of Universal Plastic. The Spanish climate tech quantifies, audits and records data from plastic waste collections, using AI and the blockchain - it gets licensing of nChain’s intellectual property (IP) portfolio in this new partnership.
“nChain is committed to fostering a global wave of social impact. Our collaboration with Universal Plastics exemplifies our mission to facilitate transparent and trustworthy avenues for companies to honour their environmental commitments. Together, we catalyse positive ecological change by leveraging emerging technologies, enabling companies to embrace environmental stewardship and pave the path to a better world,” says Christen Ager-Hanssen, Group CEO of nChain.
“This partnership with nChain is a momentous leap toward our threefold vision – restoring marine ecosystems, empowering local communities, and catalysing corporate environmental responsibility. The disruptive potential of Web3 technology aligned with our mission transforms aspirations into realities,” says Alvaro Bravo Hernandez, CEO of Universal Plastic.
Main image: Naja Bertolt Jensen (Unsplash)