Elering AS and WePower Announce a Pilot Project to Test Large Scale Tokenization of Energy Data on the Blockchain in Estonia

The project will be a real-world test using anonymized data to
simulate and demonstrate what the future of energy trading utilizing
blockchain technology might look in Europe

GIBRALTAR & TALLINN, Estonia–(BUSINESS WIRE)–#blockchain—Elering
AS (https://elering.ee/en),
an independent electricity and gas system operator in Estonia, and WePower
(http://www.wepower.network)
a blockchain based green energy trading platform that aims to drive
global green energy adoption and promote sustainable living, today
announced a pilot project to test the large scale tokenization of Energy
data on the blockchain in Estonia. This project is the first of its kind
in Europe and will pave the way for a future practical test that will
connect European green energy producers to the Estonian Smart Grid.

To achieve this, WePower will integrate its blockchain and smart
contract powered green energy trading platform into Elering’s Estfeed
data exchange platform. This will form a proof-of-concept system for
Estonia, demonstrating nation-state scale tokenization of energy
consumption and production data on the blockchain. This system will be
first of its kind, enabling concrete steps towards a global blockchain
powered energy trading. This will make energy trading accessible to
prosumers of all sizes and configurations. WePower will be leveraging
Estonia's existing advanced smart grid infrastructure, particularly the
100% smart meter coverage with hourly reading and a central data hub.
These are the ideal technical conditions to test the true scalability
for tokenized asset trading technology and provide a stronger bridge
between green energy producers and traditional grid operators.

“Elering’s motivation in this project as a transmission system operator
is to enable energy innovation by removing market barriers. For that
purpose we have built the Estfeed data exchange platform, which enables
people to share their energy meter data with new service providers.
WePower is a great example of the potential of innovation in the energy
sector that can be unleashed by transparent data access,” said Taavi
Veskimägi, CEO of Elering.

“We are thrilled to announce our partnership with Elering AS,” said Nick
Martyniuk, Co-Founder and CEO of WePower, “as it is the first step in
our goals of making the smart grid greener. Estonia is the perfect
country to start with, as it already has an existing advanced smart grid
infrastructure that we can integrate out technology into. This
partnership is an excellent use-case to show the viability of blockchain
technology in the green energy space, and marks a huge achievement
towards creating a global blockchain powered energy trading network.”

About Elering AS

Elering is an independent electricity and gas system operator in Estonia
whose main duty is to guarantee high-quality energy supply to Estonian
consumers at all times. To ensure energy security of supply, Elering
maintains and develops both electricity and gas internal transmission
networks and external connections. In addition to the physical networks
Elering is developing a smart grid platform in order to enable efficient
market functioning. The technical basis for the platform is the Estfeed
data exchange layer that allows end consumers, energy service providers,
scattered (small) producers and network operators to easily and securely
access the data that is needed in their daily operations. For more
information, please visit Elering.

About WePower:

WePower is a blockchain-based green energy trading platform. It helps
renewable energy producers to raise capital by issuing their own energy
tokens. WePower connects energy buyers (end users and investors)
directly with the green energy producers and creates an opportunity to
purchase energy upfront at below market rates. WePower has developed
Ethereum Smart Energy contract tokens to standardize, simplify and
globally open currently existing energy investment ecosystem. Energy
tokenization ensures liquidity and extends access to capital. WePower
wants to help build an infrastructure to bridge renewable energy
producers output and traditional energy grid operators thus making the
grid a little greener. WePower blockchain solution is already recognized
by Elering, one of the most innovative Transmission System Operators in
Europe. For more information please visit WePower.

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Contacts

Company Media Contact:
Blonde 2.0 for WePower
Alona Stein,
+972-50-778-2344 (Cell)
[email protected]
or
WePower
Media
Contacts
Geoffrey Riggs
[email protected]
or
Ain
Köster
[email protected]