We have since realised 5000+ registered users on the platform, we have opened a market in Slovenia — European Union, and we are now generating revenue while helping energy customers become better off and more sustainable.

It is safe to say that our deployment of the platform on national level in Slovenia will act as a springboard as we focus in the year ahead on entering new markets and offering additional products and services.

As 2019 comes to a close, we would like to share with you some important information regarding:

Our new office in Tallinn

Revenue growth

New services

We have opened a new office… in Estonia!

And you’re probably wondering why Estonia?! We’ve listed some of our key reasons below:

Tallinn, Estonia

🖥 Estonia is a global leader in digital innovation

It is the first nation to declare Internet access a basic human right, first to accept digital signatures for most transactions, first to institute online voting, and, last year, it was one of the first nations with crazy-fast 5G network capability. A fun-fact is that Skype is an Estonia e-invention.

The e-Residency program is another revolutionary initiative launched by the government of Estonia. After its independence from the former Soviet Union, Estonia has taken decisive steps to build its digital nation. This ambitious project has been so innovative, and its results so impressive, that Estonia is considered the most advanced digital society of our time.

Given our product is digital in its nature, Estonia couldn’t be any better a fit for us to run some of our operations from!

📄 Cryptocurrency licences

Estonia has enacted cryptocurrency licenses through the Money Laundering and Terrorist Financing Prevention Act (MLTFPA) under the Financial Intelligence Unit (FIU). This act came into being in November of 2017 and as a result, companies incorporated in Estonia can now be issued two different types of licenses for cryptocurrency:

Providers of a service of exchanging a virtual currency against a fiat currency

Providers of a virtual currency wallet service

The first license allows you to exchange fiat to crypto and crypto to fiat. (Usually, crypto to crypto transactions do not require a license.)

The second license allows businesses to provide e-wallet services for virtual currencies i.e providing custodial services of the required credentials to access the virtual currencies.

💡Estonia is a potential new market for SunContract

In addition to being a digital hotbed for startups like SunContract and a provider of crypto licenses, we see Estonia as having potential to become one of our next energy markets. The legislations in this jurisdiction favour the SunContract business model, and having an operational office, with a local team already in the country makes it even more convenient for us to enter the market as an energy provider.

Our revenue has grown!

Since our last project report which we issued in June 2019, we are happy to announce that we have:

💡 more than doubled P2P contracts on renewable energy production side

🌞 tripled energy self-sufficiency product sales!

Innovation didn’t stop in 2018…

At SunContract, we believe that in order to remain a business that customers trust, we must continue innovating and adapting ourselves to changes in consumer behaviour over the long haul.

For us, this meant that we could not afford to stop innovating once we successfully deployed P2P energy trading. We had to and have to remain flexible in our thinking, and the team is always looking for ways to add value to our customers. Here’s a snapshot of our new 2019 offerings:

New Service Infrastructure: Management Portal

This year, we developed a new service infrastructure: SunContract’s Energy Management Portal. We built this portal as an extension of the SunContract Platform where our partners can manage customer accounts on their behalf, or our sales partners can add new customers to the portal. This operation was partly funded by the European Union from the European Regional Development Fund to whom we are extremely thankful.

New Service: Energy Management

They say that necessity is the mother of invention, and it couldn’t be truer with our new Energy Management service. We decided to offer this service through the Energy Management Portal because we observed that some of our prospective customers were interested in reaping the benefits of the SunContract electricity marketplace, but they simply did not have the time to be making P2P deals by themselves.

Through the introduction of this service, our partners are now providing professional P2P energy trading and hedging on behalf of our customers — producers and consumers alike.

New Product: Customised Electricity Packages

In an effort to incentivise commercial and industrial energy customers to join SunContract, we prepared some competitive packages:

SunContract SIMPL: a classical single tariff at a competitive contract price

a classical single tariff at a competitive contract price SunContract PREMIUM: the most advanced electricity package on the market — whereby our P2P energy marketplace, the fluctuations of prices on the wholesale energy exchange as well as trading-added value are all to the significant benefit of the customer.

SunContract Project Recap

Finally, as we wind up the year, and look towards a seemingly bright 2020 with lots of hope and enthusiasm, it’s important to not forget where we have come from and how far we’ve come. For that reason…