PARIS, Sept. 8, 2020 /PRNewswire/ — The European group WPO launches its GreenToken Public Offering.
WPO is a leading independent European platform for renewable asset management and specialist services. WPO’s GreenToken Public Offering will run from September 8 to November 12, 2020. It is the first operation of this kind to obtain an approval from the French Financial Market Authority (AMF Visa No. #ICO.20-189, issued on May 12, 2020).
Founded in 2008, WPO oversees a production equivalent of the electricity consumption of the population of Paris. Specialized in optimizing the production of renewable energy through a full range of technical, commercial and financial expertise, WPO actively participates in increasing the share of renewable energy in the European electricity mix.
In Asia, between 2005 and 2015, Wind Prospect Group (one of the two companies behind the creation of WPO) had major development activities in Hong Kong (offshore wind), Australia, mainland China and Thailand (onshore wind and wind consultancy). From 2015 until 2019, WPO has had its technical director based in Taiwan with early construction and commissioning activities in Vietnam.
WPO currently runs one contract for Singapore-based Independent Power Producer The Blue Circle for their first wind farm in Vietnam. Asia is a natural move for the company because of its many business milestones in a region where renewables are called to sustain an ever-increasing energy demand.
Blockchain, a key tool to support changes in the energy sector
There is a neccessity to accelerate the Energy Transition in order to cope with the climatic challenges of the 21st century. Blockchain technology now appears as a key driver in this acceleration. Its properties of transparency and traceability, as well as its decentralized operation, are essential to promote the changes needed in the energy sector.
By using Blockchain to certify renewable energy production events for its clients, WPO has already been working for close to three years to lay the foundations that will enable us to move away from a fragmented and vertical data management mode, which no longer corresponds to the decentralized and intermittent nature of renewables, the basis of tomorrow’s energy.
A public offering of tokens to accelerate the Energy Transition
With this transformation in mind, WPO is opening a Public Offering via a new digital asset: the GreenToken. This operation, launched by WPO on September 8, 2020 and which will close on November 12, 2020, is the first in the sector to be approved by an independent financial market authority. The details of the operation are described in the official Information Document that can be downloaded from the web page dedicated to the transaction: ico.wpo.eu.
Duncan Levie, Managing Director of WPO comments, “Our Public Offering aims to change scale by deploying this token to all professional players in the energy sector, as well as to individuals. We want to build a new European multi-services platform – intelligent and seamless – for the management of our energy data, based on Blockchain and Artificial Intelligence, adapted to the intermittent and decentralized nature of renewable energies“.
As of November 23, 2020 and in accordance with the Information Document, 15 million GreenTokens, digital assets qualified as utility tokens, will be issued.
As of December 1, 2020, GreenTokens can be freely exchanged on the French SAVITAR platform or directly within the GreenToken Network.
4 initial uses for an intelligent and seamless European energy platform:
GreenTokens now open new fields of possibilities and business models to all the actors who decide to be part of the network. Obtaining GreenTokens will give access to four virtuous and recognized uses, corresponding to certificates registered in Blockchain: the “GoCerts”:
- Being a payment record specific to renewables
- Enabling disintermediated and direct electricity trading,
- Issuing High Reliability certificates proving the transparency and traceability of the Energy Transition.
- Enabling predictive maintenance and automation of insurances and guarantees
Members of the GreenToken network will be able to propose other uses to broaden the adoption of the GreenToken and create innovative business models that will accelerate the Energy Transition.
“We have deliberately designed this project as an inclusive model that will allow the GreenToken to become more self-sustaining as it reaches key players in the energy sector. The Energy Transition is a global challenge and it is only together that we can make a difference,” concludes Barthélémy Rouer, CEO and founder of WPO.
To learn more, visit the dedicated pages and download the Information Document at: ico.wpo.eu
Established in 2008, WPO is a leader in independent asset management and associated specialized services for wind and solar power in Europe. The company oversees 600 production sites in 12 European countries with a capacity of more than 5 gigawatts, i.e. 1700 wind turbines and 12 million photovoltaic modules. Today, WPO contributes to the production of electricity from renewable sources for the equivalent of about two million people, almost the population of intramural Paris. It offers technical, commercial, and financial management solutions, and holds among its clients and stakeholders more than 360 companies, including investment funds, insurers, reinsurers, developers, banks, mixed economy companies and independent electricity producers. In a world where energy management is becoming increasingly decentralized and complex, WPO’s main objective is to ensure energy sustainability and create the conditions for greater trust through issuing the first fully-traceable energy production certificates from reliable renewable sources on the world market. WPO is listed on the Financial Times FT-1000 2017 as one of Europe’s 1000 Fastest Growing Companies
More information at: www.wpo.eu
Investment in an initial coin offering as defined in Article L. 552-3 of the Monetary and Financial Code entails risks of a partial or complete loss of the investment. No guarantee is given regarding the liquidity of the tokens acquired in the offering, the existence of a secondary market for said tokens, the value of the tokens acquired in the offering and the exchange value of said tokens in legal currency. Tokens do not constitute financial instruments within the meaning of Article L. 211-1 of the Monetary and Financial Code and confer no other right than those described in the information document. In addition, the regulatory framework applicable to the offering and to the tokens as well as the tax regime applicable to the holding of tokens are not defined to date in certain jurisdictions. The approval issued by the AMF concerns only the offering covered by this information document. As from the end of the offering, the AMF will not monitor the issuer or its project. Any communications subsequent to the offering and relating thereto will not be reviewed by the AMF. The subscriber is invited to read section 4 “risk factors” of the information document.
More information at info.ico.wpo.eu