Dear friends,

I hope you’re all having a great summer!

Here’s a quick overview on what our team has delivered over June and July. In this summary, I will touch upon the platform launch as well as the upcoming features. I will also provide a nice brief of the first renewable energy projects on the platform.

By the way, I am working from Seoul, Korea this week pitching WePower at Beyond Blocks Summit. In connection to that, our friends in the Korean and Chinese crypto communities will find something special from the bottom of the post. Don’t miss out — just scroll down and check it out.

1. But first, the Platform Launch

After the thorough security testing of our platform as well as the website, on the 5th of July our IT security guys allowed us to go live with the platform’s Alpha Version 1.

The platform’s Alpha Version 1 enables to:

Register potential energy buyers and renewable energy producers.

List renewable energy projects that will be using our platform to raise capital through the upfront green energy sale.

Gather interest of potential energy buyers to buy/invest in green energy from the listed projects.

Demonstrate technical and business development efforts/progress to our community.

The platform launch is speeding up our user acquisition process and it has helped to educate our community on how it will work. The platform also introduces renewable energy producers who are using it to sell energy. I am thrilled to share that thousands of people have already signed up to check out the Alpha Version 1.

Haven’t yet had the chance to play around with the plaftorm? Sign up in just 30 seconds.

I’d love to hear your thoughts. Don’t hesitate to reach out to our team via Telegram and/or any other WePower’s social media platform listed on our web.

2. Upcoming Platform Features

The current version of the platform has a couple of features that remain locked. As you might already know from our launch announcement or the engineering blog, the plan is to unlock them one by one until the platform Business Launch taking place in the fall.

The Three Upcoming Features:

Auction view and energy auctioning function;

Marketplace view and energy trading function;

Buyer’s consumption profile interaction with the buyer’s participation in the auctions as well as trading of energy on the marketplace.

The features are included in the development plan and we work on building them with the valuable help and insights from our co-development partners (renewable energy producers, corporate energy buyers, investors). For a more detailed view into the upcoming features, please check out the recent blog post by our CTO Kaspar.

3. The First Green Energy Auctions

With the launch of the platform we presented the first 6 renewable energy projects. Each project has a net capacity of 50MW, bringing the total production capacity of projects on the platform at launch to 300MW. All six launch solar plants are located in the beautiful Extremadura region of Southwest Spain.

Each project is looking to raise at least 4,200,000 EUR. This means that each project will sell at least 105,000 MWh of solar energy at a minimum rate 0.04 EUR per KWh. The energy will be delivered within 5 years from the time the renewable energy generation facility is built. 4,200,000 EUR comprise approx. 10% of required capital to build 50MW capacity renewable energy generation facility.

The renewable energy producer will donate 0.9% of energy calculated from the energy amount sold on the platform to the community. The total donated energy pool now comprises of 5670 MWh, which is worth approx. 226,000 EUR, if we calculate energy price at 40 EUR per MWh. The donated energy amount can always be calculated by using a simple formula: amount of energy to be sold on the platform x 0.9%. We will soon integrate a Donation Pool Calculator into the platform that will simplify calculations on the donated energy amount. Stay tuned.

In the WePower whitepaper we have indicated plans to connect to the platform renewable energy generation facilities with total aggregated capacity of 1000 MW. The first 6 projects comprise already 30% of this amount. However, I am happy to note that we actually aim to accomplish more and plan to present more auctions before the major business launch this fall.

4. Let’s Meet in Seoul this Thursday

Based on the very active and positive attention we have been receiving from the Korean, Chinese as well as Japanese crypto communities, we have decided to be more present there as well. I myself as well as Nick have traveled to Asia a couple of times to be able to meet everyone in person. Here is a simple recap of the meetups we’ve hosted and events we’ve participated in so far together with a warm invite to meet me in Seoul, Korea already this Thursday.

❗Join WePower meetup in Seoul this Thursday

You are all kindly invited to join us at the WePower Meetup in Seoul tomorrow, on July 19th at 7 PM UTC+09. For more details: OnOffMix.com, Facebook event, Twitter.

Join our Korean community on Telegram and/or Kakao.

And read more about the first WePower Meetup in Korea and what we found out at the Future Energy Forum Seoul in June when our CEO Nick was there. Click below for his post with the key takeaways.

❗Vote for WePower on Bitfinex and Ethfinex

In June we got listed in Huobi Korea, the Korean branch of HuobiPro exchange and started strengthening our position in the region. I’m thrilled to share that we have been included in the competition by Bitfinex and Ethfinex exchanges. Now we need the help from our strong community — that’s you!

There is not much time left so your contribution will be highly appreciated. See below for details on how to cast a vote in a few simple steps.

Thanks and I hope to meet many of you in person soon!

All the best,

Artūras

Co-founder of WePower