The French company WPO has obtained the approval of the Autorité des Marchés Financiers to launch an ICO through the sale of its GreenToken token. It is the first ICO targeted by the AMF in the energy sector.

Based in Paris, WPO is a player specializing in the production of renewable energy. The company oversees more than 600 power plants producing wind and solar energy. And to finance the development of green energies, WPO therefore relies on blockchain.

The company obtained the approval of the AMF to issue a utility token called GreenToken. Thanks to a ICO, a public offering of tokens, WPO hopes to have raised between 5 and 10 million euros. The calendar provides for a token issue between September 8 and November 12.

Energy services paid in usage tokens

The rating of GreenToken will be performed on French service savitar.io from December 1, 2020, the date on which the tokens will be exchangeable. WPO specifies that other exchange platforms will be able to offer it from 2021.

The reservation of the company's digital assets is however already open. The minimum entry ticket set by the renewable energy specialist is 100 euros. Utility tokens, based on Ethereum's ERC-20 standard, can be purchased in euros, Bitcoin or Ether.

To contribute to this ICO, the purchasers (natural or legal persons) must however reside in France. Foreign investors can also help raise funds. Restrictions excluded, however, residents of China and the United States or from countries included in the list of High Risk Jurisdictions (Bahamas, Iran, Libya, etc.).

But concretely what will GreenTokens allow? For its creator, it is about "stimulating and optimizing the production of renewable energies. Thus, the tokens can be used to acquire energy goods and services certified by WPO and the GreenToken Network.

New business model for green energy and WPO

Note that for its blockchain project, the company relied on another French player, Equisafe. The latter designs and issues the GreenToken token via its platform. For the sequestration and the conservation of the digital assets acquired in cryptocurrency, WPO calls upon Coinhouse.

Finally, on the identification of subscribers component, the company specifies collaborating with French Lemonway. The payment service provider intervenes in particular for KYC (and KYB for legal persons), the fight against fraud and money laundering, as well as collection.

The purpose of Green is not, however, financial or technological. The objective is a transformation of its business through the emergence of a new business model based on the monetization of energy production data.

WPO is thus planning the massive acquisition of production data from renewable sources. This data will then be monetized using blockchain and artificial intelligence. The company will also issue certificates (GoCerts), registered on the blockchain. These will notably certify the renewable nature of the energy produced.

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