Klerksdorp, South Africa–(Newsfile Corp. – July 13, 2022) – South Africa is currently facing a drastic energy crisis; widespread national-level blackouts become more frequent as electricity supply falls behind electricity demand, threatening to destabilize the national power grid. As an answer to this crisis, South African company Megatech (MGT) is propulsing itself and the country into the web 3 revolution.
After acquiring Project Beta, a 60MW solar farm that will include a 100MWh state-of-the-art storage technology, the company is turning to blockchain technology in order for investors to gain financial incentives in the form of an MGT token hosted on the Binance Smart Chain (BSC). By acquiring this green token, token holders have the opportunity to earn from a sustainable business model that creates a solution to the current energy crisis.
Two main factors drive this crisis; a lack of sustainable energy infrastructure and the slow funding process of sustainable projects by local governments; according to Wessel Sevenster, ” No traditional funding institution is willing to fund the development process…to get an energy “shovel” ready (fully compliant)…this process can take up to 8 years…and cost up to $2m …which is done at risk…Megatech managed to raise this seed money and founder’s capital to get Project Beta shovel ready. Now all institutions are willing to throw money at it for construction….” Megatech’s aim to create a greener world thanks to blockchain technology is on its way to shaping a new environmentalist movement in South Africa. With the backing of private investors and local governments, the company is on its way to solving a real-world problem affecting millions of people worldwide.
About Megatech (MGT)
Megatech, in answer to Africa’s and the world’s energy problem, by utilizing blockchain technology, MGT provides token holders with financial returns on solar fields owned by the company. The first field, called project Beta, is a 60MW solar farm and will include 100MWh of state-of-the-art storage technology to ensure maximum profitability and the opportunity to sell green renewable energy at peak rates to blue-chip listed entities; that have already signed commitments for offtake. Furthermore, 40% of all financial gains realized from this project and future pipeline projects will vest in the MGT (PTY) LTD custodian company which fiduciary directors independently manage on behalf of the token holders who participate in the performance staking program.
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