Dear Community,

We have finished our 4th post-token sale month. For blockchain companies each week feels like an intensive year. The last 4 weeks were not different. Before starting my brief update about WePower life in May, I want to say thank you to our community, which supports us without reservations, and our team, which is capable of delivering fascinating results within a very short period of time.

Platform Development

During May the WePower engineering team was focused mainly on 3 work streams:

1.Finishing the WePower platform for the June release. This release will help us to start registering everyone willing to buy or invest in green energy, register new green energy development projects intending to use our services and market our project pipeline before the business launch in Autumn.

2.Preparing the WePower platform for the trials with EnergyAustralia. This version has extended functionality than the above mentioned version for the public release. We will test it in Australia with EnergyAustralia customers. The purpose of these trials with one of the biggest energy groups in Asia/Australia is to receive feedback on the platform we are creating and prepare it for the Australian market. Development for the trials is in line with general development roadmap. Therefore, we expect to have almost full functionality of the platform earlier than planned — this summer.

3.Optimizing smart energy contract for Elering tokenization pilot project. The optimization reduces smart contract deployment cost. This is very important before launching our pilot project in Estonia — we will tokenize all Estonian grid data and issue billions of energy tokens to simulate high volume energy trading. Tokenization of Estonian grid data will be one of the biggest blockchain applications in real life. We plan to start auditing this smart contract in July and we have already started engaging reputable auditing companies.

More information about development you can find in monthly engineering blog post prepared by Kaspar.

Business Development

Within April and May we have established two dedicated teams for business development activities in Spain and Australia. Teams started active discussions with new potential partners, renewable energy producers, energy buyers, energy traders and investors. Teams have busy schedules with the aim to increase renewable energy project pipeline on the platform and to facilitate entry to the selected markets. Some of the companies have also agreed to become our strategic development partners and share their know-how, market insights and feedback about our platform and product offering.

In May we also had several events and road shows:

We have spent a week in Madrid and presented WePower to energy market regulator — CNMC, transmission system operator — REE, energy market operator — OMIE. We have presented WePower, our goals for the Spanish market and discussed further collaboration. WePower as independent energy supplier will have technical connections with REE and OMIE. While CNMC will be supervising our activities. During our road show we also met with potential new partners, such as renewable energy producers, banks and investors.

Our Estonian team met with delegation of C-level representatives of Dutch energy companies and organizations in Tallinn. We met people from Stedin, Alliander, Authority for Consumers & Market’s (the Dutch regulator), Dutch Renewable Energy Association, Energie-Nederland, Enexis, Innogy/Essent, Ministry of Economic Affairs and Climate Policy, N.V. Nederlandse Gasunie, Netbeheer Nederland and Tennet (the Dutch transmission system operator). During this meeting we have presented WePower and how we enable everyone to participate in the transition to sustainable future. We will continue our discussions with Dutch companies and explore opportunities to expand to the Netherlands after we launch Spain later this year.

Also we met with a delegation from Asia. It included representatives of Fukuoka City (Japan) government and founding partner of crypto fund — Cherubic Ventures. Our guests invited us to consider future collaboration in Asia. Having such strong partner in Asia like EnergyAustralia, Asia is closer for WePower than one can imagine.

Soon we will disclose new partners supporting us and renewable energy producers willing to use our platform to raise capital through energy smart contracts.

New Team Members

Three new team members joined WePower’s business team:

Annika Ljaš

Annika will be our Head of Marketing and Communications. Previously she contributed to the launch of the revolutionary e-Residency program — the world’s first transnational digital identity platform, followed by building up a platform called Latitude59 for Estonian startups to share knowledge and connections, and seek funding. Most recently, she was in charge of Marketing and Communications at Planet OS, a technology company that got acquired by Silicon Valley’s Intertrust.

Jokūbas Viduto

Jokūbas is leading our energy trading division. He has extensive experience in power trading and energy markets. He has been responsible for developing new energy products, entering new markets and working closely with power and derivatives’ exchanges. In addition to that, Jokūbas had managed a number of business development and M&A projects in energy, and retail industries in the Baltic States, Poland and Ukraine.

Karolis Jonuška

Karolis is our general counsel. Before joining WePower Karolis was a leading international power and commodities trading Legal counsel at Lietuvos energija group of companies.

New team members are a strong addition to our highly experienced, fast and agile team. Welcome Annika, Jokūbas and Karolis.

Hiring is a continuous procedure. Join our team! All open positions can be found on our workable: https://wepower-network.workable.com/.

All the best,

Artūras