FRED Energy (FRED) has launched an ERC-20 token (FREDx) alongside its Stellar based token in an effort to increase awareness and liquidity of its green energy related projects. This will make FRED energy a dual blockchain project, a rising trend in projects struggling to gain investment, liquidity and exposure.
FRED Energy was launched in 2018 on its own blockchain and switched to the more ECO friendly blockchain Stellar in 2019. In February 2020 it launched the shop.fredenergy.org marketplace where consumers can buy green energy related products using cryptocurrencies.
In Q4 2021 the company will begin selling its own developed products. The first product is an innovative powerbank aimed at the camping/off-grid markets that uses emerging battery technology enabling reuse and recycling of the battery pack. The project will track its battery packs by writing the state of the product to the blockchain (manufactured, retailed, returned, reused, recycled). It is estimated that just 5% of Lithium-ion batteries are recycled, the rest go to landfill, FRED Energy is looking to disrupt the powerbank market and influence the market leaders towards change.
Most powerbanks have a lifecycle of approximately 2 years, cheaper products just 1 year, the DSA-1 by FRED Energy is forecast to have a battery lifecycle of between 5 and 10 years. The trend towards electrification and the storage of energy will have wider economic repercussions with regards to a greater usage of low cost, low-cycle and poor efficiency Lithium-ion battery cells, leading to further environmental and economic issues.
FRED Energy wrote its prototype DSA-1 to the blockchain in December 2020, possibly a world first in product lifecycle management (PLM).
Further green energy focussed projects are scheduled for 2022 that will see FRED Energy become a market leader in green energy projects using cryptocurrency and blockchain.
Contract address for FREDx is 0xd8e2b153E94daeC5fE657A49FF59bb68fA67f126
Find out more about FREDx and FRED Energy at https://token.fredenergy.org/fred-energy-erc-20-fredx/