Log In

 

Company Name : Poseidon Foundation

Thursday, June 14, 2018 1:20PM IST (7:50AM GMT)

(BW)(POSEIDON)

The Poseidon Foundation Announces Fundraising Timetable Ahead of Platform Launch


Malta

The Poseidon Foundation (“Poseidon”) is pleased to announce the timetable for its year-long public fundraising phase which encompasses three token sales ahead of the platform’s official launch in August 2019. The first token sale will launch on 16th June 2018 and will last six weeks ending 29th July 2018. The second token sale will be launched on 3rd November 2018 lasting four weeks and the third token sale will launch on 4th May 2019 for two weeks.

 

Poseidon is a non-profit which uses blockchain technology to integrate carbon markets into transactions at the point-of-sale, giving individuals and organisations the opportunity to rebalance their climate impact by supporting forestry conservation projects around the world when they buy and sell everyday items.

 

During the three sales, 18 billion OCEAN tokens will be available for purchase. OCEAN is a single utility token that provides access to carbon credits through the Poseidon platform. Using OCEAN tokens, platform users will be able to offset the unavoidable climate impact of their businesses and everyday lives. During the first raise, OCEAN will be available for purchase at a 35% discount against the token’s internal value, until 29th July using Stellar Lumens, Bitcoin, and Ethereum.

 

The internal value of OCEAN will be derived from an external and independent benchmark of the total value of the global carbon market, which is currently estimated to be approximately €8.64 billion. 36 billion OCEAN tokens will be issued, each with a value of €0.24. Contributors to the token sale will enjoy discounts against the launch value, as outlined in the schedule below.

 

As a non-profit foundation, Poseidon will use 80% of the funds raised from token sale to purchase carbon credits for the platform. The remaining funds will be used to cover operational costs, including further development of the platform, R&D and the onboarding of new pilot projects with retailers. Should contributors prefer, there will be an option to make charitable donations to Poseidon. In the case of charitable donations, 100% of the funds committed will be used to purchase carbon credits and directly support forest conservation projects in the rainforest. Laszlo Giricz, founder and CEO of Poseidon, said, “The first token sale will be the culmination of months of hard work by our talented team. Our platform is the first of its kind to truly put consumers in control of their own carbon footprint when buying anything from a cup of coffee to a litre of fuel.”

 

“We are already operational at Ben & Jerry’s Scoop Shop in London where we have protected over 1,500 trees in just over a month. This represents a small example of the positive environmental impact the platform could deliver across multiple retailers.”

 

ENDS

 

Notes to Editors

 

The three OCEAN token sales will be scheduled as follows:

 

First token sale

 

Second token sale

 

Third token sale

Duration: 6 weeks  

Duration: 4 weeks

 

Duration: 2 weeks

Start: 16 June 2018, noon GMT  

Start: 03 November 2018, noon GMT

 

Start: 04 May 2019, noon GMT

End: 29 July 2018, 11:59 PM GMT  

End: 09 December 2019, 11:59 PM GMT

 

End: 19 May 2019, 11:59 PM GMT

Token Discount: 35%  

Token Discount: 20%

 

Token Discount: 5%

Token Price: €0.1560  

Token Price: €0.1920

 

Token Price: €0.2280


About Poseidon
 

Poseidon is a non-profit foundation that empowers individuals to rebalance the climate impact of their lifestyle choices with a breakthrough approach. Using blockchain technology, it integrates carbon markets into everyday retail transactions at the point-of-sale and allows users to track the positive impact of their transactions on individual forest conservation projects. This will transform people’s relationship to their carbon footprint, encourage vital behavior change and unlock the considerable growth potential of carbon markets to effectively address climate change.

To find out more about Poseidon - https://poseidon.eco/

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20180612005207/en/


Click here for Media Contact Details
CONTACTS :

Hawthorn Advisors for Poseidon
Ed Jones-Davies
Email: e.jones-davies@hawthornadvisors.com
Tel: +44 (0) 20 3745 4977


More News from Poseidon Foundation

28/06/2018 6:21PM

BAC Partners with Poseidon to Become the First Car Manufacturer to Go ‘Climate Positive’

Briggs Automotive Company (BAC) based in Liverpool has become the first car manufacturer in the world to go ‘climate positive’, setting a new industry standard for climate action. Becoming climate positive ...

25/05/2018 11:34AM

Poseidon Foundation Launches First Retail Platform That Allows Consumers to Support Climate Action Using Blockchain Technology

The world’s first retail platform that connects consumers to their own carbon footprint has been launched in London by non-profit organisation the Poseidon Foundation (“Poseidon”). Poseidon’s ...

Similar News

15/08/2018 9:10AM

Meggitt Training Systems to highlight Australian presence and next-generation simulator at Land Forces

Meggitt Training Systems will emphasize its long-standing Australian presence and demonstrate the FATS® 100MIL simulator at Land Forces 2018, to be held September 4-6 in Adelaide. Meggitt Training Systems Australia ...

No Image

15/08/2018 9:00AM

Thales and Gemalto Announce Regulatory Clearance from the Minister of Innovation in Canada

Regulatory News:   Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 27 March 2018 in relation to the launch of the recommended ...