Facedrive (OTC:FDVRF) Acquires EcoCRED, From Exelon Subsidiary Exelorate | Green Stock News
Summary: Facedrive Inc. (OTC:FDVRF), a Canadian “people- and-planet first” tech ecosystem, is thrilled to announce that it has completed the acquisition of 100% of the ownership interest of EcoCRED, from Exelorate Enterprises, a wholly-owned subsidiary of Exelon Corporation, a Fortune 100 company and the largest producer of clean energy in the United States. EcoCRED is a sustainability platform that offers science-backed carbon offsets to empower communities, businesses, and individuals to get closer to a carbon-neutral lifestyle. Pursuant to the Acquisition, Facedrive acquired 100% of the ownership interest of EcoCRED in exchange for aggregate consideration of USD $1,000,000 EcoCRED is a sustainability platform aimed at empowering people to do more for the planet. Through its mobile application, EcoCRED estimates users’ daily carbon footprint based on where they live, how they commute, their heating and air conditioning habits and the type of vehicle they drive. It also suggests simple tasks and useful lifestyle habits that help educate the users and, if incorporated into daily routine, significantly reduce their carbon footprint. On the EcoCRED app, users can build eco-friendly habits, discover sustainable products, and read insightful articles about climate change. The app and website also offer science-backed carbon offsets that help the community get closer to a carbon-neutral life. The App has had over 60,000 downloads and the EcoCRED community of users have collectively reduced over 4,000,000 pounds of carbon emissions through their habits and offset. Based on some basic information, such as diet, lifestyle, and residence, the app analyzes its user’s current energy consumption behaviors to estimate the user’s daily carbon footprint. EcoCRED’s community of eco-conscious users connect with each other for support and helpful information. The EcoCRED acquisition is a strategic one for Facedrive. In an immediate sense, the acquisition will enable Facedrive to implement EcoCRED’s carbon- offsetting technology throughout its ecosystem of application verticals. From a broader perspective, EcoCRED’s mission is to assist consumers in reducing their carbon footprint. About Facedrive Facedrive is a multi-faceted “people-and-planet first” tech ecosystem offering socially-responsible services to local communities with a strong commitment to doing business fairly, equitably and sustainably. For more about Facedrive, visit www.facedrive.com. About Exelon Exelon Corporation is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Read the full press release: https://greenstocknews.com/news/nasdaq/fslr/first-solar-series-6-cure-has-industry-s-lowest-warranted-degradation-rate Green Stock News is a 21st-century broadcast media company that enhances corporate access for public companies through the distribution of news, interviews, and original content across the web and through social media. Subscribe to our channel for Daily Green Stock News … Green Stock News for the New Green Economy. https://www.greenstocknews.com
