WePower Teams up with Estonian Energy Retail Company 220Energia to Develop Blockchain Powered Energy Retail Services

GIBRALTAR & TALLINN, Estonia–(BUSINESS WIRE)–#blockchain—220Energia
(https://220energia.ee/),
an Estonian energy retail company, and WePower
(https://wepower.network/)
a blockchain based green energy trading platform that aims to drive
global green energy adoption and promote sustainable living, today
announced they signed a Memorandum of Understanding (MoU) to work
together to explore using blockchain technologies for the cross-border
sale of retail energy in Europe, benefiting both consumers and the
planet.

WePower recently announced it began working with Elering AS, an Estonian
TSO, on 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. As
work on this technology proof advances, WePower would like to begin
working towards offering retail energy packages on the market that
support the consumption of tokenized energy. Working with 220Energia
means it will allow WePower to begin development work faster than
originally planned. Our philosophy is to use Estonia as a development
center, we will not be independently trying to go into the retail
market, but partnering with innovative regional retailer’s whose core
business is just that.

“We aim to use digital technologies to help customers make better
everyday energy decisions that help save them money and lower their
environmental footprint. We are always looking out for new
opportunities. I am glad to partner with WePower to explore the new
opportunities that blockchain can bring to the table.“ – Peeter Pikk,
Board member, 220Energia.

“When we started WePower we did not have plans to enter the household
energy market until 2020. However, this partnership with 220 Energia
allows us to expand our platform adoption scope, testing with Elering to
move towards reaching our goals faster. Essentially, it means that we
will be able to tokenize and trade energy produced not only by large
renewable energy producers but also by any household with a solar plant
on the roof or a windmill in their backyard” – Nikolaj Martyniuk, CEO
and Co-Founder of WePower.

About 220 Energia:

220Energia is digital energy retailer helping SME’s and households buy
their electricity and natural gas. 220 Energia is belonging to the
retail electricity/gas selling group that recently exited a portfolio of
more than 50 thousand customers in Finland and currently is growing as
electricity and gas seller to ca 30 thousand customers in Estonia,
Latvia, Sweden and soon in Austria. 100% of our Estonian client base is
hourly metered and most of them use dynamic pricing. For more
information please visit 220
Energia (https://220energia.ee/).

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
(https://www.wepower.network/).

Contacts

Company Media:
Blonde 2.0 for WePower
Molly Winik
+972
58-4433219 (Cell)
[email protected]