This is a feel-good blog about how Sun Exchange and cryptocurrency has enabled us at Venturenomix to invest in a solar power installation project for a primary school in South Africa. We hope you will be tempted to do the same once you have read about how and why we did it.
First – the facts. Venturenomix has leased 24 Solar Cells for 20 years as part of a 53kW array installed on the roof of Wynberg Girls’ Junior High School in Cape Town. That cost us 0.012BTC (or £100 at the time of purchase) and we expect to make an IRR of 11.25%, minus a 10% charitable donation to the school.
We will get onto how we did it, but first let’s look at why we did it:
- Feel Good Factor: We are 1 of 213 people or organisations that invested a small amount of money to unlock a solar array that is going to make a tangible difference to the school – here is a video: https://www.thesunexchange.com/project/wynberg-girls-junior-school
- Buying some positive with Bitcoin: This is a genuine example of using a cryptocurrency to achieve something positive and tangible – not just using money to make (or lose!) money.
- Doing a little bit: How to solve the “what can I do to make a difference” question. Well, here is a simple and seamless way we can make a small difference during a lunch break.
- Supporting a brave founder: We met Sun Exchange founder Abe back in 2011 in Cornwall (UK) where he was already working in the Renewable Energy sector. This new project is a brave one – combining technology and real-world impact projects. We are keen to support Abe and people like him.
Now for the how: luckily, there is a video recorded by Abe to explain everything.
If you are comfortable with Crypto, you can ignore this short paragraph where we give a few shortcuts to the process of buying bitcoin to invest in solar arrays. Firstly, get yourself a Coinbase account (other exchanges are available) and follow their simple process for opening accounts. Once you have your bitcoin (deposit money onto the exchange, buy bitcoin), then you can interact with the very helpful people at Sun Exchange. Don’t leave any spare money on the exchange, withdraw it back into your bank account – just to be extra secure.
Sun Exchange are developing more projects and you can get involved by checking out their website here: https://www.thesunexchange.com
Feedback and Questions
We would welcome any feedback from you and would be happy to answer general questions about how we might support you in getting a business like Sun Exchange off the ground.
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