H20 Securities secured funding from the Gem Digital investment firm to the tune of $150M. The funding will be used to provide water delivery infrastructure and solutions to areas that lack access to fresh water via H20N tokens. GEM Digital is a $3.4 Billion investment company that specializes in digital extraction devices and alternative investments.
In a joint announcement on July 4, CEO of H20 Securities Julius Steyn said, “The focus with the H2ON token is mainly on the financing of water projects internationally and not so much on the technical engineering and construction of such projects.”
GEM Digital is no stranger to investing in technologies designed to improve environmental effects and living conditions for humanity. Its portfolio includes investments in Changing World Technologies, a food waste processing firm, and Neos Ocular, a firm that produces lasers to improve vision.
GEM previously invested in the digital asset management service QBNK Holding AB.
H20N will be used to settle bills between H20N network participants, including water plant operators and their clients. By raising funds to finance water projects, it claims to reduce the time it takes for water suppliers to deliver to new clients compared with traditional means.
Coinciding with the announcement, H20N was also listed on the Bitmart centralized exchange (CEX) launchpad initial decentralized offer (IDO) platform on July 4.
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