What is WePower?
WePower is a platform for energy producers, consumers and investors. Consumers can purchase clean energy (solar, wind and hydro) with cryptocurrency, to then consume, or to sell the energy later, and even gift the energy to someone they know. This is all made possible by tokenizing the energy. One energy token will be worth 1kWh.
These are current problems in the energy industry:
Why is WePower interesting for investors?
WPR token holders will be given free energy tokens. WePower receives these tokens as donations from energy producers that crowdfund a new clean energy plant through the WePower platform. Energy producers can raise funds to create a new energy plant by having a sort of ICO on the WePower platform. They sell tokens that will be exchanged for energy in the future (usually within 4-6 months). Smart contracts are supposed to aid the fulfillment of the delivery of energy from crowdfunded plants. The energy plants that are funded through WePower are not limited to selling the energy on their platform, but 20% of energy produced has to be sold through WePower.
0.9% of the total energy produced will be donated to the token holders in the form of energy tokens. The donated energy to token holders in euros is illustrated below:
Why would energy producers want to fund their plant through WePower?
A big problem that WePower is solving is the length of the process to set up a new plant. Currently the process looks like this:
But the way WePower would like to see this process is:
If WePower can really make this possible, it will be a big leap forward for clean energy in Europe. This business model seems to have positive effects on four parties; investors, producers, consumers and the environment. It’s easier for investors to participate in clean energy projects, and they get a nice return. Producers will receive a bigger return on equity on their energy plant projects. Consumers will be able to buy energy when it is cheap and be able to redeem it any time they want. Producers that want to fund a new plant through WePower will sell the energy tokens under the current market price of energy, meaning that investors can profit when the energy is produced, and consumers will have cheaper energy.
The proceeds from the ICO will be used as follows:
We are very excited to see a platform like WePower since we are advocates of clean energy. Big changes in huge markets usually have to come from the top to go down, but WePower is fighting this issue bottom-up by giving the people a louder voice. We are closely following this ICO to see developments that we would like to report to you; stay tuned.
Contribute to the ICO through clicking the image below!