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WePower

About WePower

SPECIAL ANNOUNCEMENT

WePower has made history already! Startup is now backed by StartupBootcamp.

StartupBootcamp is the biggest global startups accelerator with programs in major startup hubs including London, New York, Singapore, Berlin, Amsterdam, and many others. It provides both a global reach and industry-focus to its portfolio companies.

WePower is accepted to the Energy program which marks the significant recognition of startups’s technological achievements in using the blockchain to revolutionise the energy markets.

STBC Energy program is supported by the major energy companies like Energy Australia and Spotless. Multi billion worth companies will help WePower to scale in Australia.

PROJECT DESCRIPTION

WePower is a blockchain-based green energy trading platform. It enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens represent energy they commit to produce and deliver. As a result energy producers can trade directly with the green energy buyers (consumers and investors) and raise capital by selling energy upfront, at below market rates.

The technology team is led by Kaspar Kaarlep, former CTO of Elektrilevi, he and his team are the ones who built the Estonian Smart Grid infrastructure over the past 10 years. The team that Kaspar assembled for WePower has vast experience in building information systems in the energy space. Given their experience working directly with and for utilities, this team is uniquely placed to be able to intimately understand the challenges presented by today’s changing energy landscape and how specific technologies are impacting it.

WePower is currently launching a pilot project with Elering, Estonian transmission system operator, with the goal of building a proof-of-concept for recording a nation-state scale of consumption and production data on the ethereum blockchain. This will be a first of its kind enabling the global blockchain powered energy market to take its first steps towards reality. WePower is leveraging Estonia’s existing advanced smart grid, particularly the 100% smart meter coverage with hourly reading and a central data hub with a data exchange layer for transparent 3rd party access. These are the ideal technical conditions to test the true scalability for our technology.

By partnering with WePower, utilities can begin exploring the following examples that currently don’t exist:

  • Enabling new consumer experiences through energy data stored on the blockchain.
  • Exploring the utility as a data broker business model at scale. For example, a GDPR compliant, customer-controlled, data exchange layer that reinforces the relationship between the utility and its customer by giving the better ownership tools for their own data.
  • Helping integrate renewable energy providers into the smart grid better and helping facilitate the creation of grid level energy clusters.

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