Company Aims to Lower Renewable Energy Costs for 1.2 Billion People Without Electricity
SAN JOSE, USA – JANUARY 19, 2018 – Blockchain-based energy company KWHCoin announced today it raised $1.1 million USD in a two-day private pre-sale held in late December from a community of clean energy advocates and cryptocurrency enthusiasts. In addition, the company announced its Initial Coin Offering (ICO) would launch on February 8, 2018, with 10% of all funds raised going directly to fund microgrid development and off-grid technologies in Africa, South America, Southeast Asia, and the Caribbean.
“We see blockchain as a liberation technology that can help us lower costs and improve access to renewable energy for the 1.2 billion people around the globe without electricity,” said CEO Girard Newkirk. “With a business model that emphasizes decentralization and autonomy as guiding principles, KWHCoin’s energy platform can help weaken the world’s dependence on fossil fuels.”
The company’s ICO will launch at 12pm PST on February 8, 2018. The company will host an AMA (“Ask Me Anything”) for potential contributors with CEO Girard Newkirk on February 1. More information on how to participate is available on the company’s website at http://www.kwhcoin.com and on Telegram at https://t.me/joinchat/F_38d0NlVp_oQfB0S5u1Fg.
Using Blockchain to Bring Power to the Farthest Reaches of the World
Founded in August 2016, KWHCoin is building a Blockchain-based renewable energy platform called The Grid. Backed by equivalent measures of deliverable kilowatt hours of clean, renewable energy aggregated from local distribution sources (smart meters, sensor readings, and Green Button data), The Grid will enable anyone worldwide to buy or sell renewable energy resources. As this digital economy grows, it will serve as an incentive and compensation model that can lower the cost of solar, encourage investment in distributed energy resources, and help usher in the transition from fossil fuels to renewables.
The company’s key differentiator is its focus on serving the so-called “edges” of the world’s current energy economy, including residential solar, electric vehicles, microgrids, and wind farms. These comprise the elements of a new two-way generational model of energy distribution, presenting a great opportunity for local communities to directly participate in the renewable energy economy of the 21st century. For these local communities — especially the underserved in Africa, Southeast Asia, South America, and the Caribbean — the opportunity to sell their own excess renewable energy to others using The Grid has the potential to usher in true energy independence.
“KWHCoin has been developed for mass adoption and is designed to become the leading digital currency for the emerging Internet of Energy,” said Newkirk. “By lowering the cost of renewable energy transactions, KWHCoin will allow renewable energy to expand and bring newfound power to the farthest reaches of the world.”
Note to Editors
CEO Girard Newkirk is immediately available for interviews.
KWHCoin is a Blockchain-based community, ecosystem and cryptocurrency with a mission to improve the lives of the 1.2 billion people across the globe without reliable energy access. Founded in 2016, the company is headquartered in San Jose, California. See kwhcoin.com for more information.
Michael E. Rubin, Chief Marketing Officer