Key Deals for Estonian Green Energy Trading Platform WePower

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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.

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“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

About David Bentley

David Bentley is an experienced financial writer and communicator specializing in offshore financial services, hedge funds and technology.

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