nChain invests €2M in blockchain-based climate tech for ocean preservation

nChain, a global leader in Web3 solutions, has signed a strategic partnership agreement with Universal Plastic, to achieve common sustainability goals towards ocean protection: rejuvenating marine ecosystems by eliminating plastic waste, empowering local communities through equitable rewards for their contributions, encouraging corporate responsibility in environmental impact, and inching closer to Environmental, Social, and Governance (ESG) goals.

This collaboration involves nChain’s acquisition of a 20% equity stake in Universal Plastic. Through this association, nChain will bolster Universal Plastic’s technological offerings by providing access to nChain’s intellectual property (IP) portfolio. Universal Plastic is strategically leveraging nChain’s proficiency in Web3 technologies to drive initiatives with profound social implications, solidifying their role as pioneers in sustainable innovation.

Fuelled by nChain’s technological prowess, this partnership merges transparency, community engagement, and measurable positive outcomes. Its overarching purpose is to combat the effects of plastic pollution while propelling the groundbreaking efforts of ocean advocates devoted to revitalising ecosystems.

“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,” commented Christen Ager-Hanssen, Group CEO of nChain.

Alvaro Bravo Hernandez, CEO of Universal Plastics, commented, “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.”

The partnership between nChain and Universal Plastics represents pioneering efforts in environmental initiatives, underpinned by the potential of Web3 technology, to create a digital blue economy that sustains and regenerates the ecosystem.

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