Disclaimer: As of the date of publishing nobody at Saving with Solar currently has any investment in WePower but we are planning on joining the ICO.
At Saving with Solar we are extremely interested in the blockchain and how it can help solve issues for those generating solar power. Previously we’ve taken a look at Power Ledger (POWR) and today we’ll look at the upcoming ICO for WePower, which is a “blockchain-based green energy trading platform”.
The project allows producers of renewable energy to raise capital by issuing ERC20 energy tokens, which represent energy they commit to produce and deliver. They have support from state power regulators in Lithiuania and electric power companies and will target Europe – Spain, Italy, Germany, Estonia, and others. Numerous solar power plants which produce over 1000MW have joined the project: Conquista Solar, Civitas Project and Novocorex.
Development of the project is divided into three stages:
- WePower Breeze – market entrance – “challenging the way how energy investments and purchase are done today by creating the necessary technological layer for the change to happen’.
- WePower Storm – growing the services and usability, and using smart contracts to aggregate and manage flows of renewable energy.
- WePower Hurricane – the final step – a completely new decentralized energy utility.
ICO Start: 1 Feb 2018
ICO End: 15 Feb 2018
Hard cap: $35,000,000
Soft Cap: $5,000,000
Token: WPR, ERC20 standard
ICO Price: 1 ETH = 4000 WPR
Minimum investment: $200
Bonuses: 15% discount for early investors: before reaching the soft cap ($5 million) 4600 WPR will be deposited for 1 ETH.
Accepted currencies: ETH
If you’re interested in investing, click here to read the whitepaper they’re prepared ahead of the ICO. Although we believe in this project we in no way recommend investing in anything like this without doing your due diligence first. One negative, for example, is that there are already a number of projects in the sphere offering fintech solutions for green energy (e.g. Power Ledger). Another is that it hinges entirely on the progress of renewable energy. Obviously we’re bullish on that situation, to say the least, but many countries have a strong oil lobby and prices of oil have decreased recently. And, who knows, maybe a perpetual motion machine is just around the corner.
Kaspar Kaarlep, the CTO of WePower, has a video below where he discusses their vision for energy transformation in Europe and across the world:
ICORating have assigned a “Positive” rating to the project and recommend it for both short and long term investors – saying the WPR tokens can be “considered both as investments for long-term portfolios, and for the purpose of speculative earnings on the expectations of a successful platform launch and demand for tokens from the initial customers for tokenized energy”.
View an introduction to the system by watching this video!
View a platform demo below:
If you have any questions, comments, or insight into this project we’d love to hear about it – please sound off in the comments and we can start a conversation about this exciting new technology.