Impact Enterprise Incubator GEAR Announces Launch, Two Initial Ventures in Environmental Credits and Equity Crowdfunding
With an objective of building ventures that address current or anticipated environmental and social problems, GEAR has officially launched as an incubator of impactful enterprises which seek to make both an impact and a profit, in that order. At the outset, GEAR has two initial ventures; one is a spot marketplace for environmental credits such as carbon credits, the other is an equity crowdfunding platform that enables fundraising for impact-oriented startups in any of thirteen designated impact categories, which are closely aligned with the United Nations’ Sustainable Development Goals.
TORONTO, Oct. 30, 2019 (GLOBE NEWSWIRE) — GEAR Capital, Inc. (the “Company” or “GEAR”) is pleased to announce its official launch as an impact startup incubator built around the principles of impact investing. This emerging investment category has gained popularity in recent years as investors have begun to express concern about social and environmental problems that are affecting the world, and how the companies in which they invest fit into these problems or their respective solutions. GEAR’s business plan is to lead the incubation of niche-focused ventures to address a specific issue, or a specific approach to facilitating solutions to a given type of problem. Impact investing differs from what is known as “conscious” investing in that the latter seeks to divert investments away from companies that are perpetrators of social or environmental problems (e.g. tobacco producers, plastics manufacturers), whereas the former seeks to channel investments into companies that are positioned to directly contribute to solving these problems (e.g. recyclers, clean energy producers).Presently, GEAR has the following two ventures in development:GEAR Exchange (http://gearex.com) – Spot marketplace for environmental credits (e.g. carbon offsets), on which digitized representations of such credits can be traded near-instantly as commodities, thus allowing for price discovery and liquidity for environmental credits. Additionally, through an open API, these digitized representations of environmental credits can be integrated into supply chain applications and business workflows, which can broaden the use case of these credits, greatly improving the performance of their respective programs. GEAR Impact (http://gearimpact.com) – An equity crowdfunding platform to be licensed to financial institutions, with an emphasis on fundraising for impact-oriented startups in thirteen impact categories which are closely aligned with the United Nations’ Sustainable Development Goals. In order to be listed for crowdfunding on GEAR Impact, candidate startups must demonstrate the potential for both impact and profitability through a screening process that will consist of a third-party organization involved in a given impact category (e.g. an environmental foundation), followed by a licensed broker-dealer who will potentially administer the fundraising initiative in a regulated manner. By licensing this platform to financial institutions, GEAR will enable banks to offer unique value to their retail investor clients in the emerging category of impact investing, while assisting to create opportunities for impact-driven entrepreneurs.Seasoned financier and mining engineer Stan Bharti is an advisor to and the lead investor in GEAR, taking an active role in the Company’s early-stage operations. Other advisors include former NYMEX Chairman Richard Schaeffer, and Swiss-Brazilian environmentalist Gérard Moss.GEAR Chief Executive Officer Mr. Pathak commented, “Today’s investors care more than ever about what their money is funding, and they are demanding accountability when it comes to what the companies they invest in are doing. Corporate social responsibility has been popular for some time now, but making an impact takes more than that. Making an impact takes an active effort to recognize a problem such as global warming and make that problem a foremost consideration in business decisions, not just an afterthought. We are building our in-house ventures to tackle one problem at a time; with the GEAR Exchange we are seeking to strengthen the use case of environmental credits, and with GEAR Impact our objective is to simplify fundraising for impact-oriented startups. Our team is very excited to get into motion with our first steps, and we look forward to picking up momentum in this rapidly-growing space.”On behalf of the Board of Directors of the Company,GEAR Capital, Inc.Mr. Pathak, Chief Executive OfficerFor further information, please contact:GEAR Capital, Inc. Investor Relations
[email protected]About GEAR CapitalIn recognition of the many social and environmental problems that pose a threat to the long-term quality of life for the human race, GEAR Capital was founded as an incubator of ventures with a common objective of making a positive impact. GEAR Capital’s mission is to make an impact first, and a profit second, at the intersection of “doing good” and “doing well”. The Company is currently in the process of launching the GEAR Exchange (https://gearex.com), a spot exchange for environmental credits such as carbon offsets, and GEAR Impact (http://gearimpact.com), an equity crowdfunding platform for impact-oriented startups, which will be licensed to financial institutions as a method of offering impact investing options to their retail investor clients. GEAR Capital anticipates it will incubate additional ventures in the near future to address current and anticipated needs around the globe.For more information about GEAR Capital, please visit http://gearcapital.com.Cautionary Note Regarding Forward-Looking Information and StatementsThis news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements are made only based on the Company’s knowledge and perspective as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks, which readers should consider in their interpretation of these forward-looking statements.