WePower’s solution: digitally enabled PPAs. Our alternative significantly simplifies the standard energy procurement process offering more flexibility for both developers and energy buyers, reducing transaction fees and enabling secondary trade options.

Why Australia?

After a few months of intense validation of two target markets — Spain and Australia — and having progressed on our partnerships with TFS Green, Energy Australia, StartupBootcamp (SBC), Elering and others, we have decided that we need to focus our efforts on energy markets Down Under. Australia is just the start of our global expansion. The United States and Europe will follow.

Why are we so confident that our business model will be successful in this particular market? Australia has perfect natural conditions for renewable energy production. The amount of sun irradiation in Australia is one of the highest in the world.

The latest National Energy Outlook from Bloomberg New Energy Finance, predicts Australia will generate 92 per cent of its electricity from renewable energy sources by 2050, as dramatic reductions in battery storage costs boost solar and wind uptake.

Combine this with the fact that public sentiment towards green energy is fantastic and the government is actively supporting renewables with 69 GW of new capacity expected to be installed in Australia by 2040 according to the AEMO Integrated System Plan (2018) — 93% of which will be solar, wind and storage.

SBC accelerator’s energy program opened up an incredible opportunity for WePower to launch operations in Australia. Over the course of three months we have managed to launch WePower platform V1, define a business model for the Australian energy market and secure major partnerships including one with leading gas and electricity retailer — Energy Australia (EA) which services 2.6 million customer accounts, as well as TFS Green, the Australian subsidiary of Tradition, one of the world’s largest inter-dealer brokers.

TFS Green, also known as Renewable Energy Hub, has an innovation that involves “firming” contracts and is helping corporate electricity buyers to cover their full electricity needs in a cost-effective way. Firming contracts bring relevance and practical application of renewable energy solutions to the business environment. The goal of the partnership between WePower and Renewable Energy Hub is focused on bringing the strengths of both companies together to drive the impact of renewable energy business solutions at scale.

We have already started working on refining the planning tools to help businesses make better auction choices in a more quick and easy, yet secure way. Together we are also working on assessing opportunities of digitising firming contracts using blockchain in order to establish a set of digital solutions covering all needs of the corporate electricity buyers.

What does a shift to B2B mean for token holders?

Only good news! The initial business model was based on 20% of green energy production to be sold through auctions on our platform. With the shift to B2B, the volume of the auction has increased from 20% to up to 100%.

As all token holders know — 0.9% of the green energy producers’ donation to donation pool, shared by token holders, comes from the amount of green energy producers are selling on our platform. The shift to B2B will mean a flow of energy to the donation pool up to five times bigger than the initial one — a significant and beneficial change for WPR holders.

We would kindly ask for token holders and supporters from our community to stay mindful regarding the pace of progress of the first auctions on WePower platform.

The shift to B2B also means that these are bigger companies we are in business with and onboarding those companies will take time. We are, however, providing them with hands-on support making sure the process goes smoothly.

For all of you who are eager for our updates, we’d like to make a note that the summer holiday season in Australia lasts from mid-December to late January. This means we will be able to share a more detailed timeline once the on-boarding of the green energy developers and energy buyers resumes after everyone is back to business.

60 people and growing!

WePower’s team is a group of energetic individuals with many years of experience in the power, finance and digital transformation sectors.

We believe that technology, thoughtful system design, and passionate people are key to solving some of the world’s most pressing challenges.

Many great people have joined our team over recent months. Just to introduce some of them to you, our Chief Information Security Officer Michael John is the former Director of Operations at ENCS (the European Network for Cyber Security) and was also advising European Commission’s work on privacy, data protection and cybersecurity within the Smart Grid environment.

In our engineering team in Tallinn, we have Head of Products Jarmo Tuisk and Märt Ostra — as well as Raido Rosenberg, the Engineering Manager for Digital Energy Systems, whose incredible engineering skills became evident during the recent nationwide energy tokenization project.

We also have Jenya Khvatsky who used to be a WePower advisor but has now joined the team full-time to run business development in Australia. He brings to the team two decades of clean energy experience and we could not be more confident in trusting him to manage our relationships with potential energy buyers and green energy developers.

We have a very dedicated data scientist, Adomas Lingevičius, who created an innovative tool for energy consumption and green energy production matching used by potential WePower customers in Australia. And Annika Ljaš, the Head of PR & Communications and brings years of Silicon Valley startup experience to the team. And there is also Karolis Jonuška, a world-class energy commodities trading and compliance counsel.

But we have room for more! Have a look at current openings or get in touch and introduce yourself.

Join our live chat AMA

Tonight at 9:00pm GMT, I will be doing a live chat AMA (Ask Me Anything) on Telegram together with my co-founder Kaspar (WePower CTO). It would be great to see you there!

To join the AMA, simply create yourself an account on Telegram and join WePower channel.

I look forward to answering your questions shortly!

Yours,

Nick

Co-founder & CEO

WePower