WePower is a blockchain based green energy trading platform. WePower enables green energy producers to raise capital by issuing tradeable energy tokens.
WePower tokens (WPR) represent energy that renewable energy producers commit to deliver. This tokenization scheme standardizes, simplifies, and opens a global energy investment ecosystem. As a result these energy producers can trade directly with the green energy buyers and raise capital, at below market rates. The WePower blockchain solution is currently recognized by Elering, one of the most innovative Transmission System Operators in Europe.
ICO Starts: February 1, 2018
Cost per Token: 1 Token = 1 kWh, 1 ETH=10,000 WPR until soft cap is met, 1 ETH= 8,000 WPR after soft cap.
The WePower platform is currently ready. The demo version can be found at the company’s web page. Soon the WePower team plans to launch their pilot project with Elering. Currently, WePwer has partnerships in place to be operational within 9 months after the main token sale. These partnerships are a crucial part in building a pipeline of projects to be financed within the next 2 years of operations.
Every energy token represent 1 kWh of green energy that will be produced by a certain time in the near future. The total token supply of WPR will be 746,403,007.29 WPR. Only 62% (462,769,864.52 WPR) of the issued tokens will be available for sale. Unsold tokens will be burned according to the WePower White Papers.
Distribution for WPR is demonstrated by the chart below. A total of 62% of the tokens will be sold pre-sale and main sale. All unsold tokens will be burned.
WePower Team and Long Term Expenses
The WePower team will receive 20% of the 746,403,007.29 tokens. Tokens allocated to the team will be locked for 3 years with a vesting schedule. Tokens directed for long term use will be locked for a minimum of 4 years.
Reserve/Long Term Expenses
Commercial and Technical Strategy
WePower will be using 45% of the received funds towards platform development, while 15% will be utilized to integrate WePower’s platform to existing energy infrastructures across target markets. Another 25% of the funds received will be directed to expansion and operational effort. If WePower reaches its hard cap then they should be able to implement all 3 stages of the project.
Currently the WePower team is focused on launching their pilot project with Elering, as well as tokenizing all Estonian energy. WePower hopes to test their platform with the Estonian energy infrastructure in April of 2018. If all goes well then WePower will attempt to establish a company in Australia in efforts to expand. WePower will then attempt to build more relationships and find clients in Spain around August of 2018. In September of 2018 the WePower platform will be tested to help ensure expansion for 2019. WePower currently has strong relationships with clients and have a working demo platform. Overall, WePower has the strategy and components of executing the project, however, an excellent funding round is vital in making sure that all developmental stages can be funded, otherwise WePower will have to wait till more funding can propel them to accomplish the tasks that are needed to deliver their offering.
WePower tokens allow renewable energy producers to pre-sell their production in the global marketplace to acquire capital and increase a project’s profitability. Investors who purchase WPR will receive better investment returns thanks to lower costs and high liquidity. The WPR token helps investors gain access to clean energy projects around the world in a standardized way. If you decide to purchase a WPR token then there are three main ways to utilize the coin. First, you can use the energy once it is produced. In cases like these if the energy was produced in the buyer’s home market then WePower will physically bring energy based on the number of tokens held. Second, Sell the energy before production within the WePower platform. Third, sell the energy to the wholesale energy market once the energy is produced. If you decide to sell the energy to the wholesale energy market then you will receive the energy price for those tokens via fiat or cryptocurrency.
Use of Funds
As mentioned briefly above, the funds received during the contribution period will be used solely for the development of WePower. In order to penetrate the renewable energy global marketplace, WePower needs to enhance their platform and this is where a majority of the funds are being directed towards.
The WePower team is led by energy experts in the renewable energy space. These renewable energy experts help lead 12 engineers in their implementation of smart metering in Estonia. Many engineers on WePower’s team come from highly technically programming companies such as Skype. By implementing a smart metering system in Estonia, WePower will be able to emerge as the leader in the rollout of the first smart grid in the world. Blockchain development is led by Jon Matonis who is the founding partner of the Bitcoin Foundation. The project is also supported by the Ministry of Energy of the Republic of Lithuania, thanks to the projects potential social impact on climate control.
Nikolaj Martyniuk: Co-Founder and CEO
Martyniuk possesses a background in renewable energy development from plant construction to energy sales through independent energy suppliers. Martyniuk is responsible for the overall strategy and business development of WePower. Nikolaj also acts as a founding partner of the Smart Energy Fund.
Jon Matonis: Blockchain advisor
Founding director of the Bitcoin Foundation and chairman of Globitex, a cryptocurrency exchange platform. Matonis is a leader in the implementation of blockchain technology and supports the disruption that it can cause in the marketplace.
Advisors contributing to WePower’s project come from diverse fields such as AI, blockchain implementation, and energy market. These advisors provide a holistic view and knowledge of the renewable energy space, which is an ability that WePower can certainly take advantage of.
- WePower’s platform is currently built and in the demo phase.
- Due to a drop in subsidies and renewable energy competing at an increased price, invesstors are able to use WePower to gain access to renewable energy for cheap compared to the market.
- Banks, PE funds, and hedge funds are making it difficult for average investors to participate in the renewable energy marketplace, as a result hurting renewable energy producers. WePower solves this problem.
- Help producers receive more capital and increase the profitability of their projects, thus incentivizing them to produce more green energy.
- Renewable energy is expected to be adopted more into society each year. WePower may not take off right away but in the future as renewable energy is produced more, they can emerge as the leading investment platform for renewable energy.
- WePower is focusing on building their renewable energy production in countries with high acceptance and adoption of clean energy, this makes it easier to gain clients and partners.
- WePower needs to build strong client and partner relationships to even have renewable energy to sell.
- WePower does not possess a strategy or expansion plan to target highly populated countries such as the United States or China which may help growth significantly.
- Long term growth strategy which can be a positive but for many crypto investors, this may not be appealing.
WePower’s project mission is to improve the world for future generations. Due to current market bottlenecks, the development of renewable energy sources are slower than they should be especially when the global population is increasing and using more nonrenewable energy.
WePower hopes to take out intermediaries in the renewable energy marketplace to increase efficiency and help the general public investors in gaining access to the renewable energy marketplace. WePower is focusing their development and expansion effort in Europe, which may provide for easier market penetration compared to strictly regulated governments such as the U.S.
WePower possesses a team with strong backgrounds across many fields in the technical and renewable energy space.
WePower’s roadmap is simple to understand but if the team receives less funding than expected, the project will certainly slow down as they will only be able to focus on the development of one stage of their project rather than all three. This would be a long term investment as it will take time for more renewable energy producers to enter the WePower platform after noticing the increased profitability and capital gained by producing energy on the platform.
WePower’s project is on schedule and certainly has a potential to penetrate a marketplace and open it up to public investors. Thanks to the future growth opportunities and incentives for producers to participate in the WePower platform we would label WePower as a SPECULATIVE BUY.
CryptoCoinMastery’s Overall Letter Grade For WePower (WPR): B
A = 9-10 points | B = 7-8 points | C = 5-6 points | D = 3-4 points | F = 0-2 points
(points explanation coming soon!)
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