Looking to the Future: Environmental Remediation Beyond Kentucky and Indiana?

Looking to the Future: Environmental Remediation Beyond Kentucky and Indiana?

By: LBX Editorial Team

Multimedia from this Release

Friday, September 2, 2022 - 10:10am

Today, the United States needs $15 billion worth of environmental remediation. Not only is this a financial encumbrance, but the fossil fuel companies expected to clean up impacted land have no impetus. These companies are bankrupt and being penalized when they do not clean up their land.

The solution? Land Betterment Exchange (LBX). LBX is reversing Kentucky and Indiana’s scarred land, and they aren’t stopping there. They plan to expand the LBX approach to industry-impacted communities across the United States.

Mark Jensen, co-founder and executive chairman of LBX, recognizes that Virginia, West Virginia, Wyoming, Colorado and Pennsylvania are riddled with contaminated areas and have a pressing need for land remediation.

“Anywhere that has environmental surety bonds, or for that matter, any place where fossil fuels were extracted throughout the United States will be a point of target,” said Jensen.

LBX co-founder and chief governance officer, Mark LaVerghetta explains, “As the energy transition takes place from a secondary level, decommissioned coal-fired power plants fall under the category of scarred land. They’re littered all over the country. North Dakota and South Dakota fracking have particularly impacted areas.”

What’s on the horizon?

Rural distressed communities are short of jobs and aren’t enthusiastic about their outdoor views. LBX isn’t forgetting about those communities, they’re targeting throughout the United States. The organization will expand beyond Kentucky, Ohio, and Indiana, where they have put substantial recovery initiatives. LBX will help anywhere there’s a fossil fuel impacted property.

To complete these projects, LBX designed a timeline with milestones. First, they find the capital to assist projects and tour each coal-fired power plant that was shut down. They then lean towards natural gas and solar to reclaim the properties.

What do the fruits of their labor look like? An area in Kentucky is going to be a solar farm, which was previously a large surface mining operation. The trees were disturbed and ripped down, but will be replaced with eastern white pines, a native tree in the area.

The Company is also elevating awareness. LBX makes sure that once the first projects are launched, they can showcase how cryptocurrency cleans up $3 million of liability within the first launch. After that, awareness and outreach will skyrocket.

LaVerghetta adds, “LBX is creating an incentive based on blockchain technology and linking to land remediation. This blockchain is key to exemplifying the efficiency of land remediation. Cryptocurrency flips the script on the negative incentivization model, rather than penalties.”

Jensen adds: “There’s no doubt carbon offsets are needed and there is no downside to environmental remediation. People want to help these areas, but they don’t know how to do so.”

The launch of the $LBX ICO will influence the scale of LBX initiatives greatly. This initiative will help fund the build-out of the awareness campaign. LBX is protecting the integrity of the token by dedicating themselves to a strong position post-launch. This process differs from a traditional ICO, where companies typically lose control of what happens after launch.

LBX ensures no community is left behind in the process. Jensen explains: “If we put the power into the hands of the people to apply to get their environments cleaned up, jobs are created in those communities.”

As LBX creates cryptocurrency as a force of good, the United States will see a surge in carbon-positive benefits. Keep your eyes peeled for land remediation in your community, and beyond.

About Land Betterment Exchange (LBX)
Land Betterment Exchange (LBX) is an environmentally driven blockchain token that creates a financial incentive and trading market to pull forward environmental cleanup and transition away from fossil fuels while providing new sustainable jobs for the local community. Land Betterment Exchange has engaged Land Betterment Corporation as its token and carbon offset issuance partner to ensure that integrity of the token and carbon offset issuance process is adhered to. Land Betterment Corporation and Land Betterment Exchange both firmly believe that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. For more information visit www.thisislbx.com or connect with the Company on Facebook, Twitter, Instagram and LinkedIn.

About Land Betterment Corporation
Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. Visit the Company at landbetterment.com and connect with us on LinkedIn Twitter and Facebook.

Company Contacts:
Mark LaVerghetta
317.537.0492 ext. 0
Chief Governance Officer, Corporate Finance

Stephanie Conzelman
Stakeholder Engagement Director