The energy crisis in South Africa has been a long-standing issue, however, it is currently at its worst. The country is now facing a severe energy crisis; widespread national-level blackouts become more frequent as electricity supply falls behind electricity demand, threatening to destabilize the national power grid. As an answer to this crisis, South African company Megatech (MGT) is propulsing itself and the country into the web 3 revolution.
Megatech’s solution: blockchain technology and solar power.
With the groundbreaking at the recently acquired Project Beta, Megatech will be able to provide low-cost sustainable energy to private & public sectors, easing the strain put on Eskom’s infrastructure and propelling the country towards an innovative future. But the road to creating such an ambitious project wasn’t so easy, according to Wessel Sevenster, ” No traditional funding institution is willing to fund the development process…to get an energy “shovel” ready (fully compliant)…this process can take up to 8 years…and cost up to $2m …which is done at risk…Megatech managed to raise this seed money and founder’s capital to get Project Beta shovel ready. Now all institutions are willing to throw money at it for construction….” Megatech’s aim to create a greener world thanks to blockchain & solar technology is on its way to shaping a new environmentalist movement in South Africa.
ABOUT MEGATECH:
Megatech helps solve Africa’s and the world’s energy problems, by utilizing blockchain technology, MGT provides token holders with rewards on solar fields owned by the company. The first field, called project Beta, is a 60MW solar farm and will include 100MWh of state-of-the-art storage technology to ensure maximum profitability and the opportunity to sell green renewable energy at peak rates to blue-chip listed entities; that have already signed commitments for offtake.
Furthermore, 40% of all financial gains realized from this project and future pipeline projects will vest in the MGT (PTY) LTD custodian company which fiduciary directors independently manage on behalf of the token holders who participate in the performance staking program.
To learn more about Megatech, visit their Website | Twitter | Telegram |
Media Kit: MGT Media Kit
Media contact:
Elouan Le Couteller
Maral Nouri
South Africa
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2022/10/megatech-aims-to-keep-the-lights-on-in-millions-south-african-homes-by-2024