Below is our recent interview with Rumen Yordanov, CEO & Founder At EnergyGlare:
Q: Could you provide our readers with a brief introduction to your company?
A: EnergyGlare is built on the long experience of its founding team in environmental sustainability, energy carbon management. There are many obstacles and inefficiencies that slow down this market and they were previously neglected because energy efficiency was seen by many as an optional add-on for companies that was good to have but not necessary by any means.
This has changed dramatically over the past years, and we are now entering a new era when organizations will have to decarbonize to stay competitive and survive.
According to the International Energy Agency (IEA) annual investments in low‐carbon technologies in end‐use sectors are projected to rise from USD 530bn currently to USD 1.7tn in 2030 (spending on deep retrofitting of buildings, transformation of industrial processes, purchase of low‐emissions vehicles and more efficient appliances). To secure this tremendous increase of investment, new and more efficient tools need to be provided and this is the mission of EnergyGlare. For first time, we will bring the key stakeholders (Project Owners, Investors and Professional Service Providers) into a free global market for carbon reduction projects. For that purpose, we modify and modernize the proven ESCO model for energy saving contracts and implement it by smart contracts in a decentralized fashion.
Some of the unique features that EnergyGlare introduces include:
- Provide retail investors with equal access to energy efficiency investment.
- Provide SMEs, financially stressed organizations and lower-income economies with equal access to funding and professional energy services.
- Provide institutional investors with tools for investing in energy efficiency.
- Create a secondary market for energy project contracts and lay the foundations of energy contract-backed derivatives.
- Introduce NFTs that will hold the meta-value of carbon reduction projects.
- EnergyGlare provides tracking of energy and carbon savings and tokenizing the achieved carbon credits.
- Peg investments with rising energy prices as a hedge against inflation.
Q: Any highlights on your recent announcement?
A: We would like to urge everyone to think about the coming 3 decades that will bring a tectonic shift in global economy to achieve carbon net zero by mid-21st century.
EnergyGlare is currently undergoing a round of seed investment in the form of private token sales and we are looking towards an ICO early next year.
Q: Can you give us more insights into your offering?
A: During its Phase 1, EnergyGlare will operate on Ethereum, utilizing ERC-20 and ERC-721 standards for its native token and tokenized ESCO bonds respectively. Initially, USDT will be used for all transactions and we will gradually add additional crypto currencies that can be used on the EnergyGlare platform.
During Phase 1 of EnergyGlare, Project Owners will be able to list their carbon reduction projects on the platform, Investors will be able to browse these projects and select in which ones to invest and Service Providers will be able to perform on-platform tasks requested by Project Owners and Investors.
To understand EnergyGlare, it is important to understand what ESCO is. An energy service company (ESCO) provides a broad range of energy solutions including designs and implementation of energy savings projects, retrofitting, energy conservation, energy infrastructure outsourcing, power generation, energy supply, and risk management. ESCO is a model that is scientifically proven, standardized and in use for more than 50 years. The Project Owner receives a capital investment from an Investor and uses it to implement an energy reduction project. The result of the realized project is energy savings. These savings are used to repay the Investor until the Investor receives their initial investment plus interest. After that, the Project Owner stops repaying and enjoys the full savings.
Q: What can we expect from your company in next 6 months? What are your plans?
A: In the next 6 months, EnergyGlare will carry out its ICO and we will announce the Phase 1 launch date for general public (6-9 months following the ICO).
We will also be announcing the EnergyGlare senior advisors – a panel of senior business figures, leaders from the academia and industry experts.
Q: What is the best thing about your company that people might not know about?
A: We have not revealed much details about the EnergyGlare Token (EGT) so far because we were first introducing our audience to the platform and ecosystem functionality. EGT is the utility and governance token of the EnergyGlare ecosystem. EGT is an ERC20 token and its core features are summarized below:
- Priority Access: Holders of EGT will have priority access to the EnergyGlare services. Users will be able to bid amounts of EGT for a higher priority on EnergyGlare and lock up EGT on the platform for the duration of the project.
- NFT Farming: EnergyGlare users will be able to stake a EGT tokens on the platform and earn rewards in the form of NFTs linked to the successful implementation of carbon reduction projects on the EnergyGlare platform.
- Platform Fees:
- Governance: Holders of EGT will have the right to nominate and vote for 3 spots on the EnergyGlare Representative Council (EGRC) with a term of service of 1 year to participate in the decision-making process of EnergyGlare platform development.