Sun Exchange Raises $1.6 Million Seed Investment to Catalyze Global Shift to Solar Power

Solar Energy Marketplace Connects Solar Projects in Emerging Markets to Retail Customers Around the Globe

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Sun Exchange, a peer-to-peer solar equipment leasing marketplace has raised $1.6 million in seed financing from several strategic partners to accelerate global access to solar power. Partners include Network Society Ventures (New York City), Kalon Venture Partners (Johannesburg, South Africa) and three of the world’s leading technology accelerators, BoostVC (San Francisco Bay Area), Techstars (Boulder, Colorado) and Powerhouse (Oakland, California). This will boost Sun Exchange’s capacity to meet the demand for its pipeline of commercial-scale solar power projects, located in the sunniest regions of the planet.

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“Solar power is the most promising technology to achieve a zero-carbon future,” said serial solar energy entrepreneur, Abraham Cambridge, CEO of Sun Exchange. “It’s the fastest growing source of energy, but billions of people don’t own their own roof or have the capital to get it. By breaking down solar panel ownership to a single cell we reduce the cost of going solar by two orders of magnitude and we’re utilizing empty roof space in some of the sunniest cities on the planet, such as Dubai and Johannesburg. To super-charge the process we’ve combined our solar leases with another breakthrough technology – Blockchain, namely Bitcoin. Putting the two together empowers anyone to go solar and be part of the global solar energy transformation with just a few taps on a screen.”

Sun Exchange is the first marketplace of its kind and leverages Blockchain technology to allow individuals to purchase solar cells in solar projects which are mostly situated in emerging markets that are solar-rich but power-poor. This makes solar panel ownership accessible to retail and institutional investors, worldwide, while giving businesses and communities in emerging markets access to fully-funded solar power plants to reduce running costs and drive sustainable development.

Sun Exchange has been leading in the African energy market since 2014, and has expanded globally with a United States headquarters in California and a regional operating office in Dubai.

Using its Blockchain-based platform, Sun Exchange democratizes the green economy by giving retail customers around the world the chance to lease solar cells bought on their platform to medium to large solar installations in emerging markets. Solar panels are sold by the single solar cell, reducing the cost of solar plant ownership to below $10.

“At the intersection of the exponentially growing technologies of solar photovoltaics, crowdfunding and Blockchain, Sun Exchange is uniquely positioned to become a leading force in the profound transformation that we will witness as we build a global 21st century civilization” added David Orban, Founder and Managing Partner of Network Society Ventures, and member of the Board of Directors of Sun Exchange.

Sun Exchange leverages Blockchain and Bitcoin to increase transparency and reduce the costs of the cross-border transactions, both problems that inhibit the majority of commercial solar projects from accessing traditional funding options. By presenting a simple and accessible opportunity for anyone to join the solar economy, Sun Exchange unlocks the potential for the construction of environmentally sound and socially responsible projects that would otherwise not see the light of day.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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