Estonian green energy platform WePower has signed a number of partnerships that it claims will enable full cycle, blockchain-based energy trading across the country, encompassing production, transmission and consumption. WePower last month raised USD 40 million in an initial coin offering (ICO) for its /WPR token. The company said, in a press release, that its new partnerships, with electricity and gas retailers Elering AS and 220Energia, together with Estonian wind power technology company Eleon, will allow the nationwide adoption of a blockchain-based green trading ecosystem and demonstrates the importance of the technology to the energy sector.
Through a pilot project with Elering, WePower plans to test large-scale tokenization of energy data on the blockchain, integrating its decentralized and smart contract-powered green energy trading platform into Elering’s Estfeed data exchange system.
A Memorandum of Understanding (MoU) between WePower and energy supplier 220Energia will explore using blockchain technologies for the cross-border sale of retail energy in Europe. Both companies will work on offering a new type of digital product to consumers, according to a statement. Consumers will be able to choose what type of energy to buy with energy tokens.
Additionally, wind power technology company Eleon has signed a MoU with WePower to start work on a windmill installation financing model, using the WePower platform, stated the company. The two firms will also explore the creation of a custom plugin for windmills on the WePower platform.
“WePower has shown that green energy and sustainability are some of the most supported challenges by communities across the globe that blockchain can solve,” stated Nikolaj Martyniuk, the company’s Co-Founder and CEO, in a statement. “We are excited to implement our technology into Estonia’s smart power grids, as it is a perfect case for new energy system testing, with findings applicable in Europe and beyond. Our partnerships there will help develop the world’s first nationwide tokenized energy system, a huge step in blockchain-based green energy adoption.”
For more on WePower: https://wepower.network