The goal of this platform is the creation of an entirely new global market for renewable energy resources such as hydrogen by leveraging blockchain technologies and unique non-fungible tokens. By signing the agreement, SUPER HOW received a share option for the purchase of HyFi Corp stocks, with the option being linked to the expected results of the future platform.
“This agreement is a massively important recognition of our team. We have not only become the creators of an innovative platform tasked with its technological implementation, but we will also contribute to the implementation of long-term goals in creating a transformative market for the digitalisation and trade of renewable energy resources. Our knowledge and experience span not only blockchain and crypto technologies but also traditional regulatory measures and so, we have a broad understanding of market demands. This was one of the core reasons as to why it was our research lab that was chosen for the implementation of this project,” Andrius Bartminas, co-founder and Chief Executive Officer of SUPER HOW? says.
The DeFi platform for trading an innovative hydrogen production technology
The HyFi platform will be an innovative financial service ecosystem based on the main decentralised financial technology principle – accessibility for all interested market players. The first client for the platform developed by the Lithuanian team is WPP Energy GmbH, which possesses revolutionary green hydrogen production technology called "W2H2". It is namely this technology that will be traded across some specific geographical regions through the HyFi platform and, later on, future contracts for hydrogen production as well. The technology is due to be fully commercialised in 2023.
“Our partners’ main goal is to create a universally accessible new global market for renewable energy sources so that the technological solutions for their production would be within reach of interested individuals around the world essentially on the very same day when the technology is commercialised. This platform will enable the creation of vertical markets for renewable energy sources by harnessing the most advanced technologies – this is a more beautiful and sustainable future that we can realistically contribute to. This is essential to our team,” Linas Būtėnas, the co-founder and Chief Scientist at SUPER HOW? states.
Chief Executive Officer of HyFi Corp Troy MacDonald also added: "We have been working for almost four years in the hydrogen markets. We intend to use the HyFi Blockchain Platform to create NFT Tokens which will represent technology use licenses and renewable energy projects in vertical markets including territorial licenses and have cash flow from license fees, and to provide renewable energy commodity trading markets starting with hydrogen. We expect that HyFi will be scalable and adaptable, with the ability to provide its blockchain technology to horizontal markets such as agri-foods, including commodity trading platforms and vertical markets such as territorial licenses."
The deployment of the HyFi platform is slated for late 2021.
“One of our main goals is to share our knowledge with market participants as well as the crypto economy, blockchain technology, and innovation professionals. We are confident that the experience we will gain in this project will be relevant to our entire community,” Vytautas Kašėta, co-founder and Chief Information Officer of SUPER HOW? shared.
About the company:
SUPER HOW, UAB is a private blockchain technology research laboratory founded three years ago. The company is one of the founders of the Blockchain Lithuania centre of excellence, a member of the BCCS cluster and the Crypto Economy Organisation, and has been recognized as a Lithuanian innovative enterprise. The company specialises in DARQ technologies.
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