Hong Kong-based financial services and technology company TROOPS announced an agreement to acquire energy technology platform Efforce, with the transaction aimed at expanding the company’s digital asset infrastructure and pursuing new opportunities in sustainability-related markets.

Co-founded in 2020 by Apple co-founder Steve Wozniak, Malta-based Efforce provides a platform designed to drive energy efficiency using blockchain technology to tokenize and monetize energy saving. The company’s platform connects companies seeking to improve the energy efficiency of their buildings and industrial processes with investors who can finance the projects in exchange for returns linked to the resulting energy savings.

TROOPS provides mortgage lending, property investment and management, and operates an online financial marketplace offering fintech solutions, including services utilizing artificial intelligence, big data, blockchain and cloud computing.

According to the companies, the merger will combine TROOPS’ existing operations with Efforce’s blockchain infrastructure, regulatory capabilities and digital asset expertise, enabling TROOPS to expand beyond cryptocurrency exchange activities into additional digital markets, including potential trading in carbon credits and green certificates.

Efforce CEO Sergio Carloni said:

“The combination of EFFORCE’s licensing framework, digital asset expertise, and sustainability-focused initiatives with TROOPS’ market presence creates a strong foundation for future development across multiple business verticals. We believe the transaction will enable the combined group to explore new strategic opportunities while leveraging the strengths of both organisations.”

The combined group intends to leverage its expanded infrastructure and expertise to pursue opportunities across digital assets, sustainability-focused initiatives, financial services integration and related technology-driven businesses.

Under the agreement, Wozniak will remain a shareholder of EFFORCE following the transaction. The merger remains subject to customary closing conditions and approvals.

Damian Thurnheer, President and CEO of TROOPS, said:

“The combination of EFFORCE’s technology, regulatory capabilities, and industry expertise with TROOPS’ existing operations creates new opportunities for growth, innovation, and value creation.”