LONDON, Nov. 30, 2021 /PRNewswire/ -- PlanetWatch, the world's first decentralised indoor and outdoor air quality monitoring network, today announces its new partnership with leading blockchain-enabled climate marketplace, ClimateTrade. Under the new partnership, PlanetWatch will offer its user community the possibility to convert PLANETS tokens - the firm's utility tokens earned when a sensor sends valid air quality data - into carbon credits issued by ClimateTrade to contribute to sustainable, carbon emission reducing plans.
PlanetWatch was founded in 2020 as a spinoff of the European Organization for Nuclear Research (CERN). The data collected by PlanetWatch air sensors is transcribed onto the Algorand blockchain, creating an immutable air quality repository. The PlanetWatchers network currently has over 20,000 air sensors spread across the globe, with the number rapidly increasing. PlanetWatch went live on Algorand MainNet in August 2020.
ClimateTrade helps companies achieve carbon neutrality by allowing them to invest capital in proven and reviewed climate projects that fit the needs of the company. The firm developed the first carbon credit platform with blockchain technology, which allows responsible companies to offset their emissions by purchasing peer-to-peer carbon credits directly from mitigation project developers, avoiding intermediaries.
Claudio Parrinello, CEO of Planetwatch, said: "We are delighted to announce our partnership with ClimateTrade, and are looking forward to a mutually beneficial relationship that will enhance the impact of both companies in their efforts to create a more sustainable environment.
"It is great to foresee that a fraction of our PLANETS tokens will be used to support climate mitigation projects, while helping ordinary people make their own cities smarter and cleaner, for the benefit of us all."
Francisco Benedito, CEO & Cofounder, ClimateTrade, said: "PlanetWatch and its community play such an important role in monitoring air quality around the world. It is a pleasure for ClimateTrade to be able to empower them to take even more direct climate action through carbon offsetting."
About PlanetWatch s.a.s.
Planetwatch s.a.s., is a high-tech startup based in France, less than a mile away from CERN. By leveraging synergically the Algorand blockchain, advanced data acquisition software developed at CERN and high-performance yet affordable air quality sensors, including advanced devices developed by a major research institute, Planetwatch decentralizes, incentivizes and gamifies environmental monitoring. Planetwatch is currently deploying dense, low-cost air quality monitoring networks delivering real-time data and building the first global immutable ledger for historical air quality data. For more information, visit https://www.planetwatch.io.
ClimateTrade is a Spanish-based climate marketplace helping global brands achieve their sustainability goals by offsetting CO2 emissions and financing climate regenerative projects. Pioneering the development of its blockchain marketplace, ClimateTrade recently launched an API and a Widget that allow companies to offer carbon-neutral products and services to their customers. For more information: https://www.climatetrade.com/.