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What is WePower
WePower enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens represent energy they commit to produce and deliver. Energy tokenization standardizes simplifies and opens globally currently existing energy investment ecosystem. As a result energy producers can trade directly with the green energy buyers (consumers and investors) and raise capital by selling energy upfront, at below market rates. Energy tokenization ensures liquidity and extends access to capital. The WePower blockchain solution is currently recognized by Elering, one of the most innovative Transmission System Operators in Europe.
To optimize the financing cycle and open access to capital, WePower enables energy tokenization. Tokenized energy represents a contracting mechanism between an energy producer and energy buyer.
WPR token holders will have priority access to participate in auctions for purchasing tokenized energy once the renewable energy plant is connected to the platform. Energy allocation will depend on the number of WPR tokens held by the participant. Moreover, WPR token holders are rewarded by no less than 0.9% of tokenized energy donated directly by the renewable energy providers. WPR token holders may use or sell this energy.
WePower comes to the market at a crucial time. Due to a drop in subsidies and increased renewable energy development competing at market price, banks started increasing demand for own capital decreasing debt to capital 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, opens the green energy market globally to a broad pool of investors. In an open platform, new energy projects do not depend on only local investors., Asset liquidity allows more favorable capital-to-debt ratios without using Government subsidies. We estimate that the simplification of the investment process through WePower will significantly reduce financing costs, which is eventually split between renewable energy producers and consumers/investors.
The 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 a transmission system operator Elering. Current partnerships with the renewable energy producers allow WePower to be operational within 9 months after the TGE. These partnerships will bring a pipeline of projects to be financed for the first 2 years of WePower operations.
Our team is led by energy experts Nick Martyniuk, Kaspar Kaarlep and Heikki Kolk, who lead a group of 12 highly experienced energy engineers and former-Skype programmers. Our team of engineers has previously worked on the smart metering implementation countrywide in Estonia, leader in the rollout of full smart grid in the world. Our Blockchain development is led by Jon Matonis (founding partner of Bitcoin Foundation) and our token economy is structured with the help of Eyal Hertzog (chief product architect of the Bancor Protocol).
The project is supported by the United Nations and the Ministry of Energy of the Republic of Lithuania, due to its potential social impact on climate change control. WePower will share part of its technologies to countries who implement green energy and CO2 accounting, using blockchain technologies.
The WePower innovative token model was clarified with the European regulator. It is structured as a reward based crowdfunding, where contributors are rewarded free energy which they may use or sell on the platform.
First Quarter 2017
2017 January WePower concept is born
Third Quarter 2017
July 1 000 MW project pipeline secured
First Quarter 2018
February Closed financing round by raising 40 million USD
Second Quarter 2018
April Stage 1: WePower platform launch(preview)
Third Quarter 2018
July Platform testing
Fourth Quarter 2018
November WePower operational in Spain, Estonia and Australia
First Quarter 2019
Platform public beta launch in Australia
Second Quarter 2019
Third Quarter 2019
Fourth Quarter 2019
Introduction of corporate PPA portfolio optimization tools
Heikki Kolk Energy
Digital performance and user acquisition
Dr. Tadas Jucikas
Marketing and sales
Smart contracts consultant
Content and social media manager
Senior software engineer
David Allen Cohen
Head of StartupBootcamp Energy program
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