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August 17, 2023

nChain Catalyzes Green Innovation with €2M Investment in Universal Plastic

nChain Invests €2M in Spain's Universal Plastic, acquiring a 20% stake

In a pioneering stride towards fostering sustainable environmental practices, blockchain and web3 IP pioneer, nChain, has injected €2 million into Universal Plastic, securing a substantial 20% equity stake. This visionary partnership with the Spanish climate tech powerhouse signifies a pivotal shift in the fight against plastic waste, blending cutting-edge AI and blockchain technology to quantify, audit, and archive data from plastic waste collections.

The convergence of nChain's technological prowess and Universal Plastic's mission sparks a symphony of innovation to catalyze a global wave of positive environmental impact. By leveraging emerging technologies, this partnership signifies a resolute commitment to transparency and trustworthiness, empowering companies to uphold their environmental pledges with credibility.

Christen Ager-Hanssen, Group CEO of nChain, articulates the driving force behind this transformative collaboration, saying, "nChain is resolutely dedicated to fostering a global ripple of social change. Our synergistic partnership with Universal Plastic exemplifies our mission to facilitate reliable pathways for companies to uphold their environmental obligations. United, we harness emergent technologies to expedite ecological transformation, enabling companies to embrace their role as environmental stewards and carve a course towards a brighter world."

In sync with this vision, Alvaro Bravo Hernandez, CEO of Universal Plastic, echoes the sentiment, "Our partnership with nChain propels us closer to a tri-fold vision - rejuvenating marine ecosystems, empowering local communities, and galvanizing corporate environmental responsibility. The paradigm-shifting potential of Web3 technology harmonizes perfectly with our aspirations, shaping ideas into tangible realities."

This landmark collaboration comes on the heels of Ayre Group's recent move to secure a controlling interest in nChain through a $570 million transaction, underlining the dynamism and scale of innovation sweeping through the industry. As the world takes a stride towards sustainable futures, nChain's investment in Universal Plastic emerges as a beacon of hope, spotlighting the boundless potential of technology in orchestrating a greener, more sustainable world.

Neil Hodgson-Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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