WePower is a blockchain-based green energy trading platform. It connects energy buyers (households and investors) directly with the green energy producers and creates an opportunity to purchase energy upfront at below market rates. WePower uses energy tokenization to standardize, simplify and globally open currently existing energy investment ecosystem. Energy tokenization ensures liquidity and extends access to capital. WePower blockchain solution is already recognized by Elering, one of the most innovative Transmission System Operators in Europe.
In order to streamline the financing cycle and open access to capital, WePower tokenizes energy. Tokenized energy represents a contracting mechanism between an energy producer and energy buyer.
WPR token holders are rewarded by no less than 0.9% of tokenized energy donated directly by the renewable energy providers. WPR token holders can use or sell this energy. The value of the token will appreciate with the growth of the platform as more energy producers will lead to a higher pool of donations.
WePower comes to the market at the crucial time. Due to drop in subsidies and more and more renewable energy being developed to compete at a market price banks started increasing demand on a higher level of own capital and debt ratio. It moved from 20:80 to close to 50:50 ratio for newly developing renewable energy projects. Equity capital became a limited source of financing contributing to a plunge (-23% YoY) in investment due to smaller leverages.
Energy tokenization together with a platform built on an open decentralized data-base allows to open the green energy market globally to a much broader pool of investors. In an open platform new energy projects do not need to depend on only local investors anymore, asset liquidity allows much more favorable capital-to-debt ratios without using Government subsidies. We estimate that the simplification of the investment process through WePower will significantly cut the financing cost, which is eventually split between renewable energy producers and end users/investors.
WePower platform is ready. You can try the demo version on our web page. We are working on the launch of our pilot project with transmission system operator Elering. Already concluded partnerships with the renewable energy producers allows WePower to become operational within 9 months after the ICO. Partnerships bring pipeline of projects to be financed for the first 2 years of WePower operations.
The team is led by energy experts Nick Martyniuk, Kaspar Kaarlep and Heikki Kolk, who are leading a team of 12 highly experienced energy engineers and ex-Skype programmers. The engineers team has worked on the smart metering implementation countrywide in Estonia, one of two countries having such energy infrastructure. The Blockchain side is led by Jon Matonis (founding partner of Bitcoin Foundation) and token economy structured with Eyal Hertzog (co-founder of Bancor Protocol).
The project is supported by the United Nations and the Ministry of Energy of the Republic of Lithuania due to its social impact on climate change control.
WePower will give part of its technologies to the countries willing to implement green energy and CO2 accounting using blockchain technologies.
WePower innovative token model was clarified with the European regulator. It is structured as a reward based crowdfunding, where contributors can get free energy as a reward and they can either use it or sell it on the platform.