edit: One of the board members reached out after this post and explained that they owned 15% of the 220 energia oy company back in 2015 and still do, but that company has dissolved and according to him they had no managerial part in the bad behaviour. (They did however partner with them from the start). I also checked with some Estonians and it seems that this company has not been behaving maliciously in their country. I have now asked about subsidiaries and will update when they get back to me.
Wepower is having their ico in 5 days and they have a lot of people following their social media accounts.
After watching an interview with Nikolaj Martyniuk the CEO of Wepower i found some details to be worrisome to say the least.
At 09:20 Nikolaj mentions partnering with 220 energia, this was the first alarm bell that went off for me.
In my country Finland, this company is well know for being a scam company that bills the customer for energy they did not use and makes it almost impossible to contact the company or cancel the energy contract.
Troubles with the law and ethics
The Finnish competition and consumer authority had to step in and here is a press release about their shady dealings
He also mentions at the 21:00 minute mark that the cost of energy is in two parts of the bill, cost of production and cost of delivery but forgets to mention taxes, that part in Finland for example is 34%, the part that is only for energy consumption is 37% however its gradually getting lower as the price of energy is declining yearly
Anyone partnering with 220 energia is someone you don’t want to associate with.
