WePower is a blockchain-based green energy trading platform. It enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens represent energy they commit to produce and deliver. 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.
The technology team is led by Kaspar Kaarlep, former CTO of Elektrilevi, he and his team are the ones who built the Estonian Smart Grid infrastructure over the past 10 years. The team that Kaspar assembled for WePower has vast experience in building information systems in the energy space. Given their experience working directly with and for utilities, this team is uniquely placed to be able to intimately understand the challenges presented by today's changing energy landscape and how specific technologies are impacting it.
WePower is currently launching a pilot project with Elering, Estonian transmission system operator, with the goal of building a proof-of-concept for recording a nation-state scale of consumption and production data on the ethereum blockchain. This will be a first of its kind enabling the global blockchain powered energy market to take its first steps towards reality. WePower is leveraging Estonia's existing advanced smart grid, particularly the 100% smart meter coverage with hourly reading and a central data hub with a data exchange layer for transparent 3rd party access. These are the ideal technical conditions to test the true scalability for our technology.
By partnering with WePower, utilities can begin exploring the following examples that currently don't exist:
WePower solves the current problems of access to capital for the renewable energy developers and provides access to investments in profitable projects directly for the final consumers, any type of investors and energy market makers. This is done using the fast and transparent way through smart contracts on the blockchain. By employing technology WePower solves the following energy market insufficiencies: global access to capital for green energy projects and green energy investments and trading as well as speed and transparency.
WePower concept is born
1000 MW project pipeline secured
Secured client with 1000 MW solar project
Deal for grid integration tests signed
Token public pre-sale
$3M raised in an open pre-sale
Pilot testing with Elering
Accepted to StartupBootcamp
Public Token Sale
WePower platform launch
Country-wide energy tokenization test in Estonia
Connection to the energy infrastructure
Launch in Spain
WePower operational in Spain
Launch in Portugal and Germany
Distribution of donated energy to token holders
Balancing and frequency regulation
Virtual power plant structure
$43 936 272
$40 000 000
$114 005 765
$138 650 320
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