RENBDO: First ICO Approved by European Commission — 70 Percent Funding From EU
Blockchain energy startup RENBDO has been approved for EU funds — and prior to approving its ICO, the European Union will cover 70 percent of this project’s funding requirement through its green energy funds. RENBDO is an eco-friendly endeavour from Eco Smart Energies Ltd. that plans to set up a wind farm with fifty-two turbines for the production of wind energy.
“It gives me immense pride and pleasure to let you know that the RENBDO ICO campaign has been approved by EU Funds. We are thankful to EU for their patronage and have no doubt that this support will take us places,” said Marc Robert Biggins, the CEO of Eco Smart Energies Ltd. “We also believe that this is great news not only for RENBDO but the entire cryptocurrency community all over the world. Active support from mainstream trade and monetary bodies such as the EU can work wonders towards the large scale adoption of cryptocurrencies.”
RENBDO or Renewable Energy Network Based on Decentralized Organization has recently started its Pre-ICO campaign. This campaign’s objective is to raise the remaining 30% of its funding requirement. RENBDO has built a decentralized ecosystem around its proprietary Renewable Energy Token or RET. Unlike projects that offer unusable tokens to the investors, RENBDO has created a genuine profit-making ecosystem for the investors because holding one RET is equivalent to owning one asset in the company. Most importantly, 90 percent of the profits earned by this project will be distributed amongst the token holders.
In order to ensure better opportunities for investors, RENBDO has tokenized the project. Depending on their holdings, all RET holders will receive a specific amount of the returns. Based on the approval for EU Funds, the price of each RET currently stands at 0.495$/. Anyone can now purchase RETs by participating in the RENBDO ICO campaign. Eco-Smart Energies Ltd has minimized the probability of fraud by eliminating all middlemen. Interestingly, the investors will also have a say in all critical decisions related to the operations of RENBDO.
The RENBDO ICO campaign will continue for forty-five days, allowing investors to purchase RETs using Ethereum, Bitcoin and Litecoin. The total number of coins available for sale is 80,000,000 and the hard cap for the campaign is 39,600,000.
RENBDO or Renewable Energy Network Based on Decentralized Organization is an upcoming cryptocurrency start-up venture that aims to set up wind farms for the production of green energy. The primary objective of this project is to collect adequate funds for the installation of up to 52 wind turbines through an Initial Coin Offering (ICO). This project is the brainchild of Eco Smart Energies Ltd, an organization founded in 2015 by a group of industry specialists. Prior to the launch of the RENBDO platform, they were engaged in the production and distribution of electricity.
Originally published at Blockchain News.