As thoroughly detailed in our whitepaper, the Grid+ team selected Texas as our first deregulated market to create a retail energy provider and earlier this year we received approval from the Public Utility Commission of Texas (PUCT) to operate in the ERCOT region of Texas. The vast majority of our efforts on the energy side have been to spin up operations, integrate with vendors and prepare to serve our alpha group of customers. As we progressed on these fronts, our team was fortunate to bring on a star summer intern, Sam Faries, who is about to enter his second year in Yale’s Master of Environmental Management program.

Sam reached out in February with an interesting proposition to work on a research project for Grid+ where he would focus on domestic deregulated markets and the process for market entry by Grid+. Before this, we only tangentially expended effort to analyze dynamics of other US deregulated markets outside of Texas and planned to revisit this topic once our Texas operations were up and running.

Sam’s output has exceeded all expectations and has morphed into an extremely detailed, data driven research paper. It’s a great primer for people new to the energy ecosystem in the United States and provides a background on complexities with regards to the history of various market conditions, legislative mandates, technological trends and consumer behavior.

We plan to keep this report updated as additional data is published. It will be used as a guide as we determine the candidate markets for Grid+ domestic expansion. It is unlikely that we will move into markets outside of Texas in the near term, but once ready, we will be armed with data to support expansion efforts.

A huge thank you to Sam from the Grid+ team and community. I look forward to writing a glowing recommendation letter whenever you need one.

Domestic Market Expansion report

Disclaimer

The forward-looking statements in this update are subject to numerous assumptions, risks and uncertainties which are subject to change over time. There are many risk factors, including those relating to blockchain and cryptographic technology generally, as well Grid+’s business, operations and results of operations, that could cause our actual results or developments anticipated by us not to be realized or, even if substantially realized, to fail to achieve any or all of the benefits that could be expected therefrom, We reserve the right to change the plans, expectations and intentions stated herein at any time and for any reason, in our sole and absolute discretion, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. ACCORDINGLY, WE RECOMMEND THAT YOU DO NOT RELY ON, AND DO NOT MAKE ANY FINANCIAL DECISION OR INVESTMENT BASED ON, THE STATEMENTS CONTAINED IN THIS UPDATE — INCLUDING BUT NOT LIMITED TO ANY SELLING OR TRADING OF GRID TOKENS, ETHER OR ANY OTHER CRYPTOGRAPHIC OR BLOCKCHAIN TOKEN, OR THE SECURITIES OF ANY COMPANY.