Athens Alive Consortium Selects Poseidon as Climate Action Partner

The Poseidon
Foundation (“Poseidon”) is proud to announce its partnership with Redstone
– the investment and strategy firm behind the Athens Alive regeneration
project. Redstone and Athens Alive will integrate Poseidon’s reduce
platform into all phases of their €1.7 billion regeneration project,
which will restore and expand the 2004 Calatrava-designed Olympic
Athletic Center of Athens (O.A.K.A.).

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Poseidon will be partnering with the Athens Alive consortium to rebalance the climate impact of the development (Photo: Business Wire)

reduce leverages blockchain and AI technologies to empower
consumers to effortlessly rebalance their carbon footprints in real
time, at point of sale, by making micro-donations to forest
conservation. reduce can also integrate into government and
corporate structures, and its use in Athens Alive signals the world’s
first city quarter development to transparently address the climate
impact of its entire lifecycle.

As an urban revitalization effort, Athens Alive will bring a new sports,
entertainment and leisure hub to the 250-acre site in the city’s
Northern Business District. Previously the home of the Athens 2004
Olympic Games, the project will put sustainability at the heart of the
renewal, providing green offices, hotels, sports and leisure facilities
as well as an incubator hub to support the growing Greek start-up scene.

In addition to rebalancing the climate impact of the site’s
construction, reduce will also be available to the site’s future
tenants. This will give every retailer, hotel, and business the chance
to address their climate impact, while also providing the site’s
estimated 7 million annual visitors the opportunity to engage in climate
action through their purchases. The ultimate goal of the partnership is
for Athens Alive to be a model of sustainability, showcasing how urban
developments can tackle climate change in every aspect of their business.

Laszlo Giricz, founder and CEO of Poseidon, said, “We only have 12
years to effectively address the threat of global warming, at which
point we will be facing runaway climate change. If we act now, we can
still preserve an environment that is able to support human life.
Redstone and the Athens Alive consortium are taking the immediate threat
of climate change seriously and this project stands as a leading example
to businesses around the world.”

The development, which will support 15,000 jobs, is expected to create
€18 billion in wider economic benefits for Athens over the next twenty
years.

Mark Alexander, a partner at Redstone, said, “Athens Alive will put
sustainability at its forefront, which we believe is the right thing to
do with projects of this scale. Cities account for more than 80 percent
of our greenhouse gas emissions. If we don’t address the problems that
cities create, there is no way that we can solve climate change.”

“Poseidon’s approach is a game changer. It allows us to manage our
climate impact and enable millions of visitors, businesses and sport
fans to take personal responsibility and action on climate change.
Having ‘reduce’ integrated into Athens Alive will help make Athens a
model for environmentally-friendly cities worldwide.”

ENDS

Notes to Editors

About Poseidon

Founded in 2018, the Poseidon Foundation is a non-profit developing
revolutionary solutions to stop climate change. Poseidon’s first
offering, reduce, is a platform that empowers people to offset
the carbon footprint of their purchases in real time.

Using AI and blockchain technology, reduce helps individuals and
organizations address the immediate and existential threat of climate
change by embedding carbon credits into virtually any transaction and
automatically rebalancing the carbon footprint of any product or
service, at point of sale. This has the potential to meet the
urgent need to reduce global greenhouse gas emissions because it asks
minimal behavioural change of its users. reduce empowers
consumers to take real-time responsibility for the climate impact their
day-to-day routines have on the planet, which creates a paradigm shift
in driving action against climate change.

The reduce platform is also a leading force in the development of
global carbon markets and its activities support both the Paris
Agreement and the UN’s Sustainable Development Goals.

To find out more about Poseidon, go to www.poseidon.eco

About Redstone and Athens Alive

The Athens Alive consortium was formed to develop the OAKA site into a
modern, walkable, leisure, sports and entertainment district.

AECOM – www.aecom.comA
multinational engineering firm that provides design, consulting,
construction, and management services to a wide range of clients. AECOM
has been ranked #1 in Engineering News Record’s “Top 500 Design Firms”
for eight consecutive years.

BlueRock – www.bluerocksports.co.ukA
specialist arena and stadia venue and event operations firm formed by
the people who ran the IMG stadia group.

Colliers – http://www.colliers.com/en-gb/greeceOne
of the largest commercial real estate services and investment firms in
the world

Redstone – https://www.redstoneap.com/A
finance and strategy firm founded by partners with first-hand experience
in sports focused on investments in a variety of areas including real
estate, sports, arena and stadia development.

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