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

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/).

View source version on businesswire.com: http://www.businesswire.com/news/home/20180117006242/en/