POTOMAC FALLS, Va., May 16, 2025 — The Ash Environmental DAO, via its Ash Token () cryptocurrency platform, is pleased to announce that it has successfully funded its first group of grant recipients. This is a significant step in the DAO’s goal of encouraging impactful environmental innovation, creating jobs, and promoting economic transformation through decentralized blockchain finance.
The DAO awarded the following in this initial funding round:
- $2 million to GCS Fibers LLC (), a U.S.-based startup that converts toxic coal ash into high-performance, non-toxic mineral fiber under the PHEENX® brand.
- $20,000 to Eco-Green Solutions LLC (), a startup concentrating on solutions for capturing greenhouse gas emissions.
- $20,000 to MetaFiber LLC (), an innovative startup involved in research and development of next-generation green materials.
Dan Perez, Communications Director for the Ash Env. DAO | Ash Token, stated, “This is the first demonstration of how the Ash Token ecosystem can effectively fund real-world innovation that benefits the environment. These grants lay the groundwork for a future where pollution is converted into opportunity, providing project funding, economic growth, poverty reduction, and long-term sustainability.”
GCS Fibers: Resuming Operations with Support from the DAO
From the recipient’s perspective, the $2 million investment enables GCS Fibers LLC to restart its main facility and begin large-scale production of its cutting-edge mineral fiber product, which is made from recycled coal ash. This process redirects hazardous waste away from the environment while producing high-performance, environmentally safe materials for use in global industries.
David Quinn, Director of Public Engagement for GCS Fibers, said, “We are extremely appreciative of the Ash Environmental DAO and the Ash Token community’s support. This funding is more than just capital; it’s a sign of confidence in the future we are creating. We are able to bring our facility back online, generate employment, and demonstrate that sustainability and profitability can coexist because to this grant.”
A New Approach to Climate Finance
This round of funding demonstrates the DAO’s concept of a circular, inclusive economy in which decentralized capital supports creative solutions to environmental problems. Each grant furthers the DAO’s primary goals: reducing global pollution, encouraging sustainable industry, creating respectable jobs, and offering top-notch goods and services through its network of supported businesses.
Following the success of this initial funding round, the Ash Environmental DAO encourages new applicants, partners, and Ash Token holders to participate in growing this ecosystem and hastening the world’s transition to a fair and sustainable future.
About GCS Fibers:
GCS Fibers is an environmentally responsible manufacturing company that transforms coal ash into premium mineral fiber or pulp products. GCS has the capacity to process millions of tons of hazardous coal ash annually (including fly ash, bottom ash, boiler slag, whether wet or dry) into six basic mineral fibers. These fibers are then used to create a variety of end products, including paper, brake pads, textiles, building insulation, rubber, plastics, and carbon fiber precursors. This process creates jobs, lessens the negative consequences of coal ash, and helps the environment. For more information, visit
About ASH Token:
The ASH Token is a cryptocurrency ecosystem that offers grant funding for significant and sustainable business innovations that aim to eliminate pollution from the global environment while promoting the use of more effective energy solutions. ASH is a governance token that gives holders the power to vote collectively on how the funds raised through the token’s transaction fees are used to support environmentally focused startups. To learn more, visit
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SOURCE GCS Fibers
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