We are producing gigantic amounts of waste. Total waste in the world is enormous. Some of it is recycled but a lot is simply dumped, causing problems for people and the environment. Every year we dump a massive 2.12 billion tons of waste. If all this waste was put on trucks they would go around the world 24 times. Also, this waste dumping is growing 3% each year – this means we will double our waste output in 25 years.
This waste dumping creating lot of issues for our health and for environment. Everyday there is protest from local people due to this waste dumping, but local management hardly have clue about how to solve this issue.
Second problem we are facing is that the world energy supply is around 90 percent reliant on fossil fuel energy. And demand for energy will going up only. The IEA predicts that by 2030 a rise in global energy demand will be 50-60%. And there will be 50% increase in the greenhouse gas emissions in by 2030.
According to calculations by the World Energy Council (WEC), the world-wide primary energy consumption of currently about 12 billion tonnes coal equivalent per year will grow to a level of between 16 and 24 billion tonnes coal equivalent per year depending on the economic, social and political developments by the year 2020. This growth will mainly be based on fossil energy carriers which presently cover hardly 90% of the requirement. Hydrodynamic power and nuclear power cover at present about five percent each of the remaining 10 percent.
Also, Crypto-mining energy consumption growth is exponential. As of March 31, 2018, 1 Bitcoin transaction consumed as much power as 30.5 US households for a day, this is a 500% rise since September 2017. Bitcoin’s electricity consumption as a percentage of the world’s electricity consumption is 0.27% and annual carbon footprint (kt of CO2) is 29,725.
Is there something which can solve all these problem at same time? Well 4NEW team came with solution which can solve waste surplus issue and will generate clean and green energy.
What 4NEW is planned to do or I should say already doing?
4NEW is the world’s first eco-friendly, tangible, blockchain ecosystem powered by waste to energy power plants. The concept is quite simple, the process of refining waste product into water and organic materials creates energy and that is then leveraged to either be sold to the national grid or applied to operate mining processes at an onsite mining farm.
Organic waste is collected from homes and businesses, and is mixed with farm residues to form a substrate which is fed into the digesters. Here, the mixture is heated to between 35-55 degrees Celsius, and it begins to release biogases. This release of gases continues for 65 days through to the pasteurization process, where the substrates are then further heated to over 70 degrees, to kill any harmful bacteria. Following this, the “digestate” – the matter left behind after the biogases have been extracted – is stored until it can be spread as fertilizer on agricultural land. Now that the gases have been captured, they are able to be run through a Combined Heat and Power (CHP) engine. 30% of the heat is utilized by the plant to assist in the fermentation process, and the electricity is either utilized on site, or exported to the grid.
Energy from waste includes several different technologies and processes, including Combustion, Gasification, and Anaerobic Digestion. The benefit to these processes is not only that they are reducing waste to landfill, but they offer additional revenue streams in the form of gate fees, Renewable Obligation Certificates (ROC), Feed in Tariffs (FiT), and Renewable Heat Incentives (RHI) depending on the setup of the plant.
Each of our plants take in 50,000-100,000 tonnes of waste annually, processing it in an environmentally-friendly method, to create electricity. Gate fees offset the operational costs of the plants, allowing for free electricity production. The cost to produce the energy is met through the revenue generated from the waste collection services and sale of byproducts facilitating a sustainable operation at breakeven or a marginal profit. Therefore, the energy produced is unencumbered and freely available for utilization or sale to the national grid.
4NEW is the world’s ﬁrst eco-friendly blockchain ecosystem powered by waste to energy power plants. 4New’s ecosystem will provide a blockchain platform that will enable decentralized, peer to peer transactions whereby production of energy can directly meet the consumption of energy globally.
The electricity 4NEW produce is constant, year-round, and is scalable to any location with human activity. Electricity is either sold to the national grid or applied to operate mining processes at the onsite mining farm.
4NEW has the unique opportunity to apply this finite lifetime supply of energy to its coin, namely, KWATT. The 4NEW coin symbol is KWATT. Each KWATT Coin embodies within it, 1 kilowatt of electricity for a year.
The KWATT Coin will represent a certain hashing capacity per coin. This concept is not new; Companies such as Giga Watt have offered similar mining items for lower costs, however, KWATT Coin is extremely unique in scope. 4NEW do not charge energy fees for mining, the only cost to a coin holder is the cost of the coin. This means that a coin holder will be able to mine all cryptocurrencies for the lifetime without spending an additional penny for their energy bill.
How does 4NEW going to survive? Well, the concept of 4NEW relies upon the waste to energy model. In this model they are paid for the waste that 4NEW process, and the sale of byproducts such as fertilizer, organic materials and clean water. The startup costs to this mechanism are funded by the coin sale, and the plant’s overhead is funded by cash flow generated from collection of waste and revenue from sale of byproducts. Additionally, 4NEW, and the 4NEW team will retain a portion of the KWATT Coins (and their associated mining capacity) which will provide an additional revenue stream moving forward.
4NEW team already have two working power plants. Power generated from one plat will be used for token mining and second power plant will be used to provide electricity to local grid.
4NEW ICO was started a month and its already received approx. 41.1 Million USD. ICO is currently paused so that 4NEW team complete the KYC process and some other formalities. Before listing tokens at exchange, there will be 3 days pre-listing sale. Tokens during this 3 days sale will be prices at 2 USD. However, if you plan to invest in KWATT tokens then you can get good discount by registering before this pre-listing sale.