WPO launches GreenToken IPO to 'accelerate transition to renewable energy'
WPO, an independent European platform for renewable asset management and specialist services, is launching its GreenToken public offering.
The offering, the first in the sector to obtain approval from the French Financial Market Authority, will run from 8 September to 12 November 2020.
Founded in 2008, WPO provides a full range of technical, commercial and financial support for the renewable energy sector, in particular for wind and solar technologies. It oversees energy production equivalent to the entire electricity consumption of the population of Paris. This means that WPO is able to optimize the production of renewable energy and actively increase its share in the European electricity mix.
This will enable us to build an intelligent and seamless European multi-services platform for the management of energy data based on Blockchain and artificial intelligence."
Blockchain, a key tool to support the evolution of the energy sector
The global transition to renewable energy needs to accelerate in order to cope with growing environmental and sustainability challenges. Blockchain technology is well-positioned to be a key driver in this acceleration. This is due the transparency and traceability of Blockchain transactions, in addition to the decentralized network which can disintermediate complex supply chains and optimize energy consumption patterns. This will bring much needed efficiencies to renewable energy businesses and customers.
Over the past few years, WPO has been using Blockchain technology to certify renewable energy production for clients, shifting from the legacy data management system which is highly fragmented and ill-suited to the decentralized and intermittent nature of renewable energy.
A public offering of tokens to accelerate the energy transition
With the aim of transforming energy production, WPO is launching a public offering via a new digital asset: the GreenToken. The offering is the first in the sector to be approved by an independent financial market authority (France's AMF). The details of the offering are outlined in the official Information Document that can be downloaded from: ico.wpo.eu.
Duncan Levie, managing director of WPO, said: "The aim of our public offering is to scale the industry by deploying the GreenToken to all professional players in the energy sector, as well as to individuals. This will enable us to build an intelligent and seamless European multi-services platform for the management of energy data based on Blockchain and artificial intelligence. This will be well-suited to the intermittent and decentralized nature of renewable energy, facilitating the optimization of global energy production."
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