HONG KONG, Sept. 23, 2019 /PRNewswire/ -- Today, Link REIT (Hong Kong stock code: 823) and Allinfra announce an agreement to collaborate on the use of blockchain technology for the digitization of assets, commencing with a pilot solar project. This partnership represents the coming together of two parties seeking to apply blockchain technology to enhance the development of sustainable infrastructure.
The pilot solar project will involve the installation of PV arrays (PV Projects) on a portfolio of real estate assets in Hong Kong, with the economic, ownership or associated carbon reduction interests in those PV Projects represented in digital form. Link REIT has a portfolio comprising retail facilities, car parks and offices across Hong Kong, Beijing, Shanghai, Guangzhou, and Shenzhen implementing a sustainable business model, and is seeking to be at the forefront of innovation in the development, financing and implementation of sustainable solutions.
Allinfra is a developer of blockchain-based solutions for the digitization of unlisted infrastructure and environmental assets, and is the exclusive technology partner for Link REIT's pilot solar project, providing all technology and resources related to the digitization of PV arrays on selected rooftops in the Link REIT portfolio.
Allinfra is the culmination of years of experience across capital markets, renewables, infrastructure, and technology, and is led by a team of veteran industry experts.
"With their commitment to innovation and pushing boundaries, Link REIT, through this collaboration, have again demonstrated their willingness to boldly be at the forefront and first to market by implementing new solutions and technologies. We believe this represents a significant moment in time for Allinfra and the wider adoption of the digitization of assets and the application of blockchain technology," said Dave Sandor, Co-founder and CEO of Allinfra.
"Link REIT has an extensive and ambitious ESG program. We are exploring the potential of blockchain technology to develop innovative and robust ESG solutions in areas such as carbon reduction and data management. With their refined asset specific knowledge, years of experience across capital markets and their partnership with ConsenSys, Allinfra stood out in the market for us," said Calvin Lee Kwan, General Manager, Corporate Development & Strategy at Link REIT.
GPS McQuhae LLP is advising on the project.
About Link REIT:
Link Real Estate Investment Trust is the first REIT listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Index. We are the largest REIT and the only internally managed REIT in Asia. We are also one of the world's largest retail-focused REITs in terms of market capitalisation. With a diversified portfolio that consists of retail facilities, car parks and offices across Hong Kong, Beijing, Shanghai, Shenzhen and Guangzhou, we aim to deliver sustainable growth and create longterm value for our Unitholders.
About Allinfra:
Allinfra is revolutionising infrastructure finance. Powered by Ethereum our technology brings access, choice, and liquidity to unlisted infrastructure and environmental assets; changing how individuals and institutions own and trade these assets and delivering asset owners an alternative source of financing. Our approach stems from backgrounds in capital markets, renewables, infrastructure and technology. Having seen the inefficiency and exclusivity in financing, direct ownership, and trading of these assets we've developed a solution that delivers the commercial and financial benefits of these assets to all.
For more information please visit allinfra.com