Turbo Energy (TURB) said Tuesday it launched a project to tokenize financing for hybrid renewable energy installations, in partnership with blockchain technology organizations Taurus and the Stellar Development Foundation.

By using smart contract technology and tokenization, the project enables fractional ownership of clean energy assets, which in turn lowers barriers to entry, Turbo Energy said.

The project aims to tokenize debt financing for on-site battery-integrated power purchase agreements. The approach aims to demonstrate a decentralized, scalable model, with plans to expand across international markets, the company said.

Turbo Energy shares were 19% higher in premarket trading.