Steve Wozniak’s company surges tenfold after listing its own token

EFFORCE, the company founded with Apple co-founder Steve Wozniak, said that the listing of its WOZX token on an exchange increased the firm’s market value tenfold—to $950 million, according to the New York Post.

On Thursday, December 3, the token began trading on the HBTC cryptocurrency exchange. With an initial price of $0.10, WOZX rose to over $1.42 at its peak. At the time of writing, the token’s price was around $1.26.

Data: HBTC.

Next week, WOZX is expected to be listed on the South Korean platform Bithumb.

EFFORCE aims to use blockchain and cryptocurrencies to facilitate financing for energy-efficiency projects.

“We created EFFORCE to become the first decentralised platform that allows everyone to participate and reap financial benefits from global energy-efficiency projects, as well as to make meaningful changes to the environment,” Wozniak said.

Investors can buy the company’s tokens and use them to participate in projects hosted on its platform. EFFORCE tracks the energy savings they achieve and returns them to investors as an energy credit, which can be used or sold.

According to co-founder Giacomo Visetti, many small businesses struggle to secure funding to implement energy-efficient solutions that will save them money in the long run.

“EFFORCE allows business owners to securely register their energy-supply modernization project online and obtain funding from all types of investors around the world,” he emphasised.

Wozniak joined as a co-founder of EFFORCE last year. According to the firm’s statement, most of the time since then has been spent on building the architecture of its blockchain platform and maintaining the first batch of pilot projects.

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