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Libra Project Asset Management launches first exempt digital securities offering from UAE

Libra Impact Ledger utilizes blockchain for its data management system and is the first renewable digital securities exempt offering from ADGM

Libra Project Asset Management, Ltd, a company registered in England and Wales (Libra Project), kickstart its plans for an exempt offering of Digital Securities by and through its two subsidiaries, Libra Impact Ledger Technologies (LILT), registered in Abu Dhabi Global Markets (ADGM) in the UAE, and Libra Impact Renewable Energy (LIRE), registered in Wyoming USA. 

The Libra Project family of companies together comprise a global green utility that offers social impact investment opportunities in renewable energy projects to qualified accredited investors worldwide. What distinguishes Libra Project from other renewable energy developers is three-fold: (1) Libra Project is committed to environmental and social governance (ESG) standards through adherence to the UN Global Compact principles and the integration of sustainable development goals into its mission and vision; (2) Libra Project is the world’s first fully-transparent green utility offering real-time updates on project data feeds delivered live to investors via an online dashboard; and (3) by integrating a decentralized blockchain as the preferred data management system, Libra Project provides fully auditable records for accounting and regulatory compliance. 

Earlier this year, with the assistance of UAE-based legal firm KARM Consultants, LILT’s digital securities were deemed to be securities by the Financial Service Regulatory Authority. Subsequently, Libra now intends to issue UAE’s first compliant renewable energy digital securities via an exempt offering which is an offer directed at professional investors. 

LILT’s sister subsidiary registered in Wyoming, USA, Libra Impact Renewable Energy (LIRE), has likewise launched a digital securities’ offering available to qualified, accredited investors who are citizens or lawful permanent residents of the USA, through an exempt offering of Series A Preferred Stock in reliance upon Section 4(a)(2) and Regulation D of the Securities Act of 1933. LIRE’s digital securities offering is exclusively represented by Tritaurian Capital, a brokerage firm registered with the Financial Regulatory Authority (FINRA) having a special license to engage in activities related to digital assets in the USA. 

Libra Project officially launched its capital raise through the offering of digital securities on March 15, at the Global Online Investment Roadshow (GOIR), a four-day virtual event organized by Coinstreet Partners.

Andrew Rowlstone, CEO of Libra Project stated, “After our first full year of operations has been completed and we have proven concept, Libra Project aims to register the digital securities in the public markets to provide liquidity to existing investors and access for retail investors.”

 Libra Project is the only company offering digital securities that have been admitted to the United Nations Global Compact. As Rowlstone explained, “When Libra Project was first established in 2017, there was only a small amount of investor money focused on social impact and ESG. Fast forward four years, Libra Project is now launching into a multi-trillion-dollar marketplace that lacks viable investment product which undoubtedly gives Libra Project a tremendous opportunity to successfully launch and rapidly scale.” 

“The purpose of Libra Project is first and foremost to get more money invested into renewable projects that have a positive economic, social, and environmental impact,” added Gus Schellekens, Chair Advisor at Libra Project, “such as reducing CO2 emissions and scaling green electricity. This is an exciting time for us. As the world moves toward sustainable environmental goals — as we see with several governmental strategies, policies, and projects — we are helping to organize the flows of capital into greater numbers of renewable energy projects. Once that is in place, the focus will shift to execution and all the operational elements, including the scaling and managing of these projects appropriately.” 

Having already signed several memorandums of understanding to acquire renewable-energy projects in countries such as Nepal, Thailand, and the Philippines, Libra Project is continuing to look for and identify other countries and projects throughout Asia and sub-Saharan Africa. “We currently have agreements with 20 projects,” noted Rowlstone, “most of which have existing and long-term power purchase agreements in place with government off-takers.” He added further, “our interest at this early stage in our development is focused toward small to medium-sized renewable energy plants ranging from 1MW – 40MW in size that offer the opportunity for us to create impact and healthy returns for our investors.” 

The long-term vision of the Libra Project is to democratize and catalyze impact investing into blockchain-enabled renewable energy projects, offering millions of people worldwide an opportunity to invest directly into this industry that is largely available only to accredited investors, placing Libra Project as “the global green utility of the future.”

Lara Abdul Malak

Lara has been a journalist and writer in the technology field since her graduation from AUB majoring in political science. She has had career in corporation communications in the telecom sector and was part of the launch of first 3G network in the GCC and MENA region. Since her return to journalism she has been focused with passion on blockchain, tokenization, crypto focusing on the GCC and MENA region.

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