FRED Energy launched FREDX an ERC-20 token alongside its Stellar blockchain asset (FRED) as part of its liquidity plan. The aim is to increase awareness of its green energy related projects whilst providing blockchain interoperability between its assets on the Stellar and Ethereum networks via a swap app due Q2-3 2021.

The FRED project was founded in 2018 and started as a mineable coin on its own blockchain (FRED Energy). The project idea is to use cryptocurrencies and blockchain in accelerating the development of renewable and carbon-neutral energy devices whilst promoting consumer energy generation and energy efficiency.

Rising energy costs, fuel poverty, and access to support and funding for energy device innovators are some of the problems FRED Energy aims to help solve. FRED Energy utilises blockchain and cryptocurrencies to enable the development of green energy related projects. The MVP, an eco-focused marketplace went live in Q1 2020, https://shop.fredenergy.org is one of the earliest adopters of crypto payments for real world products.

One of FRED Energy’s aims is to help consumers accelerate their usage, generation and storage of alternative energy by playing a key role in online crypto enabled marketplaces for alternative energy products. The project also collaborates with innovators in the field of energy devices using a circular funding system to bring products to market for energy-conservation and production. 

Further projects scheduled for 2021 include a JV product development with battery pack tracking to enable reuse and recycling. The project will track its product battery packs by writing the state of the product to the blockchain (manufactured, retailed, returned, reused, recycled). It is estimated that just 5% of Lithium-ion batteries are recycled, the rest go to landfill. 

In the future, the company aims to enter the electric vehicle charging markets estimated to be worth $140 Billion by 2028, through niche segments and increase market share.

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