Enterprise blockchain and crypto solutions provider Ripple is investing millions of dollars in a renewable energy fund aimed at realizing a clean energy future.
Ripple says in a press release that it is jointly investing with Nelnet Renewable Energy a total of $44 million to finance solar energy projects in the United States. The investment is majority funded by Ripple.
According to the announcement, the investment will help offset 1.5 million tons of carbon dioxide emissions over the next several decades.
“The solar projects financed by the Ripple Nelnet Renewable Energy Fund are estimated to offset over 1.5 million tons of carbon dioxide over 35 years, which is the equivalent amount of CO2 emissions from consuming 154 million gallons of gasoline.”
Ripple’s head of