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Florida-based company make renewable energy more profitable
Reneryx plans to take a new approach to advancing America's energy transition.
The company, which was founded by the German-born former real estate fund manager Kai W. Schwab, wants to attack the entire value chain.
Even before the construction of the plant or even the energy production is pending, the company wants to generate revenues. Suitable plots of land and warehouses are to be acquired via real estate investment trust, and these are then to be leased to operators on a long-term basis. In addition to the income from the lease for the roof areas of the warehouses, the warehouses themselves will also be sublet to companies.
And the company also wants to get involved in energy production.
To this end, various subsidiaries, so-called special purpose vehicles, are to be founded,
The cost structure of these SPVs is also significantly better, as the administrative management and operational control is carried out centrally by Reneryx.
Thus, the are lower compared to other projects.
The company also wants to address the actual main reason for the lack of profitability.
The low compensation paid to plant operators by the power grid operators.
In 2021, this was not even $0.03 on average, although retail customers usually pay $0.10 or more for a KWh of electricity generated from renewable energy.
Here Reneryx chose an unusual approach; they bring the consumer right along with them - a so-called crypto-mining farm.
While the enormous energy consumption of these data centers is currently the subject of much public controversy, especially since fossil fuels are often used to generate energy, this energy consumption is the key to success here.
Although only a maximum of 20% of the electricity produced in the respective facility is to be used for this purpose, the combination enables revenues to be almost doubled and the pay-off period for the investments to be halved.
These mining farms, which are to be set up either as an independent company or as a subsidiary of the respective plant operator, are to be installed directly in the respective power plants for the duration of the payback period for investments.
At the end of this period, it can then be decided whether these will continue to be operated or whether 100% of the energy will then be fed into the power grid.
The next step is to buy a commercial property in the Tampa Bay area and build the company's headquarters and also a small sample plant with solar power and Bitcoin mining.
For this purpose, a financing round will be launched soon with the goal of raising $4,000,000.
Reneryx Alternative Energy Corp.
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