Power Ledger is a leading peer-to-peer (p2p) marketplace for prosumers and consumers to buy and sell renewable energy. It’s powered by the blockchain and has a token generation event coming soon. We’re super excited about this ICO and think it’s going to be a massive step forward for Australia, the blockchain, renewable energy, and especially energy tech in countries with emerging markets which could benefit greatly from this technology. With electricity prices surging over the past few years the market is ripe for energy sector disruption.
About Power Ledger
The platform is developed and working successfully in commercial settings in the Australian market (supported by “leading energy providers” such as Vector NZ, Western Power WA and TAS Networks)- a significant amount of investment has been placed in building relationships with market leaders in the Australasian energy and property sectors. Money raised in this ICO will be used to further expansion in Australia and abroad in emerging markets such as India.
Individuals and institutions will be able to participate in Power Ledger’s blockchain energy ecosystem by investing in POWR tokens, which will be tradeable on Ethereum and can also be converted to SPARKZ – which are unique tokens you can trade for units of electricity on the private blockchain Power Ledger will run.
David Martin, the managing director, discussed their plans for the future on the PL website: “We have been and remain the global leader in this technology space, and our platform is already changing the face of renewable energy trading in a number of communities,” said Martin. “We see our Token Generation Event as an exciting opportunity to bring democratic, peer-to-peer renewable energy marketplaces to many more countries across the globe.”
Power Ledger Token Generation Event
On August 25 Power Ledger announced that a heavy interest in their token generation event means that the Initial Coin Offering (ICO) – Australia’s first on the blockchain – could raise a total valuation of around $100m. The POWR tokens were offered at a pre-sale on August 27 with the first 100M offered to the public at a set price and another 90 million at a private discounted pre sale. The pre-sale ended up raising $17 million and was sold out within 72 hours. with Martin advising SmartCompany that the next round could bring the funds raised by their ICO to between $20 – $30m.
Up to 250m more POWR tokens will be released in September -this will be an uncapped event (i.e. the market will determine the sale end price). There’s also a bounty campaign if you’re interested in spreading the word about Power Ledger and gaining some POWR (ERC20) tokens for helping.
For further information on the planned Token Generation Event, visit https://powerledger.io/ or join the Telegram group here. We’ll be posting an update as soon as the next POWR token sale date is announced!