WATT is Surge?
Electricity is a valuable commodity just like gold, silver, copper or any other economic factors of production and an essential aspect of the global economy. It is used for powering our homes, workplace, and public transportation systems, charging electric cars and all of our operating appliances. Access to electric power fundamentally expands the number and variety of business opportunities available thereby leading to the creation of new markets and jobs to then yield more opportunities for people to realize their economic aspirations.
In order to propagate a more reliable, sustainable, and accessible energy infrastructure to yield sustainable economic development enmasse, Surge establishes an electricity-token connection for the development and operation of a traditional infrastructure project, specifically power generation.
By applying innovations in distributed ledger technology, Surge features a peer-to-peer electricity trading market place underpinned by the Surge utility token, WATT, representing power produced from its 60MW coal-fired thermal power plant located in Mongolia’s North Western Province of Uvs, Aimag. WATT will later be redeemable for physical electricity utilizing existing grid networks.
The region of Mongolia surrounding the Surge Power Plant currently buys its electricity cross border from the Chinese and Russian power grids, which has stifled domestic industrial, commercial, and community development. Energy security for any nation is of paramount importance and Surge, by providing an independent source of energy, paves the way for an energy secure future.
In more pragmatic terms, Surge has formed a tripartite agreement with the governments of Korea, China, and Mongolia for power plant development and electric power generation. The Korean Coal Corporation will be supplying coal from its Khtoghor Shanaga Coal Mine. Chinese State-Owned-Enterprise (SOE) will provide the financing and construction of the power plant.
The Mongolian government has deemed Surge Power Plant to be a project of national importance, granting a 30 year Power Purchase Agreement (“PPA”). A PPA is a sovereign guarantee that the power generated by the power plant will be purchased by the government, at a fixed price for a fixed period of time, regardless of whether it is ultimately used by the consumers on the grid. In other words, this is a project where the future cash flows of the powerplant are guaranteed by the national government of Mongolia.
The electricity produced, and the token layer placed on top, will then allow for the formation of a transparent, equally accessible electricity market, presenting an exciting opportunity for users of Surge to participate in a project that is usually only reserved for large institutions.
Whilst providing a stable source of electricity to support commercial, and industrial growth in the region, we want to go one step further and enhance the quality of life of our communities. This is consistent with the principles of financial inclusion and equal opportunity that underpins Surge. As we undergo the final stages of development, Surge will be conducting a presale of its native utility token, WATT, that will be available at a discounted rate. Even before the presale, we have already confirmed 2 international exchange listings.
Surge is a decentralized electricity trading marketplace, positioned at the intersection of blockchain technology, decentralized finance (DeFi), government energy policy, and traditional infrastructure finance to yield energy security, industrial development, community development and financial democracy.
Surge is not an investment product. Surge is not intended in its design or distribution to be utilized as a form of investment, speculation, or as a financial product. No information herein constitutes financial advice. PLEASE do your OWN research before participating in Surge. Neither the Surge team nor any of its representative affiliates will ever solicit investment advice.