WePower token sale was only the first step in our long journey towards a green future.
We have since continued our work restlessly on a new partnership. Today we want to announce that on the February 2nd we have signed a Memorandum of Understanding (MoU) with an Estonian-based wind power technology company Eleon Ltd.
Under the signed MoU (presented below) both parties agreed to:
- start working on a windmill installation financing model using WePower platform;
- test the existing Eleon windmill integration with the WePower platform in Estonia;
- explore further partnership models and ways how to create custom plug in type windmills for the WePower platform.
Eleon is a well established technology innovation company focused on a large scale direct drive wind turbine development and manufacturing.
Eleon’s first technology-based windmill, Eleon 3M116, was built in 2013 in Saaremaa, Estonia. This windmill has been proven to produce approximately 30% more electricity than any other similar capacity windmill in the World. Eleon has since then expanded their windmill development to a serial production with 33 of their windmills at a 100MW total capacity currently installed in East-Viru county of Estonia.
“We are glad to sign a memorandum of understanding with WePower. Eleon is constantly looking ways how to make our technology and business model better. By cooperating with WePower on developing a new windmill financing model that is tailored to wind energy, tokenization allows us to pre-sell our production in a global market and acquire necessary capital. As a result, the profitability of future projects increases. We are hopeful that this joint operation will be a success story” — Oleg Sõnajalg, partner at Eleon.
“Using cutting-edge technology to stay at the top of level is one of the main driving forces at Eleon. We are happy to have such partners as WePower. They share the same ambition and passion to drive renewable energy adoption through innovation. We are looking forward to starting our activities together, which we hope will accelerate our technology adoption and wind farm development in Estonia and beyond.” — Andres Sõnajalg, partner at Eleon.
This partnership is important for WePower because:
- up until now all of our partners were mostly focused on solar energy development. Although the financing of solar plants is very similar to wind parks, there are some subtle differences. Together with Eleon we will work on the windmill financing model specifically tailored to wind energy tokenization. After the model is developed, we will seek to finance a new wind park in Estonia;
- Eleon windmill integration in Estonia to our pilot projects with Elering and 220 Energia would allow us to develop a tokenized energy ecosystem covering production, infrastructure and end-consumer sides.
- Eleon’s patented windmills are some of the most efficient windmills currently built in the world. Taylored integration between WePower platform and Eleon windmills will help both companies to expand across the globe faster.
“We are happy to start our work with Eleon. Their technology is one of the most advanced in the market and the Eleon’s team has necessary technical understanding for us to move forward and reach our green goals faster. Positive results of this partnership would significantly increase number of renewable energy projects financed by WePower “— CEO of WePower Nikolaj Martyniuk.
All in all, this joint cooperation would allow both partners to advance and test new technologies on the Estonian market. This goes hand in hand with our Estonian Pilot Project, the learnings of which will support energy innovation in the Europe and beyond.