Energi Mine has been appointed to launch the world’s first cryptocurrency payment system for electric vehicle (EV) charging points.

The Oldham-based business has secured a contract with Electra Commercial Vehicles to develop the payment system for its fleet of electric trucks.

Energi Mine has launched a blockchain-based platform to incentivise energy conservation with digital currency and decentralise the energy market. 

A new Energi Token (ETK) is at the core of the firm’s energy efficiency reward system, with users rewarded for energy saving behaviour.

“This is a hugely significant appointment for the business and opens up a world of opportunities,” said chief executive Omar Rahim.

“There is a global push towards energy conservation while cryptocurrencies are becoming increasingly mainstream.  

“Our initial aim is for Energi Tokens to be adopted as a common currency for all EV charging points in the UK. Our intention is then to work with our network of partners to roll this out internationally.”

Energi Mine was named as one of the world’s most exciting blockchain start-ups at this year’s Initial Coin Offering (ICO) Summit in Zurich, where Omar Rahim launched the company’s new digital token, ETK.

The company is currently preparing to raise funds through a token sale, the new way for companies to raise money through cryptocurrency.