WePower is a blockchain based renewable energy trading platform with a vision to become a next generation utility company.
It connects renewable energy producers with investors, market makers and end users of the energy. With the blockchain and smart contract solution WePower enables renewable energy producer to sell energy upfront, which increases their return on equity ratio. On the other side WePower creates a new market for traders and gives energy to end-users with a discount.
So basically on that discount people are able to buy energy cheaper for themselves and if they want to invest for a trade they can invest and get the profit.
Cross-border trading.
Energy sector is heavily regulated, but that regulation provides with a framework to enable cross-border trading.
WePower can divide it in two parts:
The first part is financial trading in which person can invest in energy in one country and exchange it to energy in another country.
Second part is actual physical delivery of energy.
WePower would start in one country(European Union). But when WePower will be already present in the other country it would be able to enable cross-border trading.
Energy balancing.
As any startup in energy sector WePower if it wants to enable p2p energy trading it has to do energy balancing. Until WePower reaches skilled scalability and increase renewable energy volumes it needs to use third party services, therefore balancing will be produced by WePower’s new partner.
Вifferences from competitors.
Every project has different paths and many companies try to go directly to peer-to-peer trading. It’s very challenging but at the same time it’s quite risky, because to enable a true peer-to-peer transaction market you need to be able to have volumes to sustain it.
WePower has a different path. It works with helping developers bring the project’s online and in that way building volumes on the market and people will be able to transact. That is there we can enable a true peer-to-peer transaction network with smaller producers coming online and more and more people buying energy directly from renewable energy market. And then WePower can expand to other countries.
WePower is not only a software-based venture. WePower is working with energy infrastructure. WePower need to connect its software solution with the energy infrastructure which exists in the market already hundreds of years. But WePower has already working platform, an experienced team that can make this connection and the first clients that are ready to use the platform.
WePower need funding to start the platform rolling in first countries and. This is a long-term project which can bring the value in a long time.
Token holder gets a reward — green energy which will be physically settled.
That donated energy is transferred directly by the producer to the token holder. The amount of the needed energy grows with the growth of the platform.
WePower is confident that this model doesn’t fall under securities regulation because team has clarified it with the European regulator.
Why the government supports WePower?
WePower is supported by the ministry of energy of the republic of Lithuania. It is supported because it is a socially responsible business, because it brings transparency. Government supports WePower because it believes that WePower is capable and has necessary experience to deliver this project and uses th epractice.
