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.
220Energia Board member Peeter Pikk said: "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."
WePower CEO and co-founder Nikolaj Martyniuk said: “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.”
