2019 was a huge year for Power Ledger, with 16 new projects spanning parts of Europe, Asia, Australia and the United States. This POWR Project Escrow Report is for the time period 1 July to 31 December 2019.
2019 was a huge year for Power Ledger, with 15 new projects spanning parts of Europe, Asia, Australia and the United States.
This is our latest POWR Project Escrow Report. We release these reports periodically, detailing the total amount of POWR being held in escrow for active projects.
You can read more about how our escrow process works for active projects here.
Power Ledger’s Virtual Power Plant is also available for sign up for those located in South Australia. To find out more or send an expression of interest to participate, please see here.
The payments received from customers onboarded from 1 July to 31 December 2019 are reflected in this report. During this period, the total of POWR tokens removed from the circulating supply for active projects was 2,229,062. This aggregated approach ensures the commercially sensitive information of our partners is protected.
Out of the 2,229,062 POWR removed from circulation;
- 2,229,062 were funded by and/or purchased directly from the market.
- 2,014,353 tokens were escrowed.
- 214,709 tokens were burned.
- Zero (0) were sourced from Power Ledger from the Growth Pool.
Please note the Escrow Address for Report #3 is:
Eventually, the old escrow address will no longer be in use, and this new address will contain POWR escrowed from Report 1 (533,066), Report 2 (172,000) and Report 3 (2,014,353) for a total escrowed of 2,719,419. However at this point, it only contains POWR escrowed for Report #3.
In 2020, Power Ledger is upgrading to new security procedures. As a result we are moving some POWR tokens, which includes moving tokens from the Growth Pool and moving the escrow address.
This move does not impact POWR circulating supply.
We are also using a portion of transaction fees collected from each kWh to burn some POWR tokens. Burning tokens means making them irretrievable, by sending them to an address that has no owner and no private key, the address that has been historically used for that by the ethereum community is: https://etherscan.io/address/0x0000000000000000000000000000000000000000.
The transaction hash of burned tokens is:
As AGE is still in development, our 250kWh asset in Maddington has been used to launch a new product, PPA Vision. Until further notice, revenue from the asset that has been generated from the sale of solar energy is also being used to temporarily purchase POWR on market and burn it.
The Maddington asset has a 20-year Power Purchase Agreement (PPA) and will be integrated with Power Ledger’s platform. PPA Vision is an energy data management, billing and settlement system for energy asset owners and operators to provide an immutable audit trail that prevents double billing and loss of revenue. The data can also be provided for the automatic generation of renewable energy trading certificates.
The platform is currently in late stages of development and we are working tirelessly with regulators on the framework to make this product available.
Please see an update from the team here.
Power Ledger is in discussions with a number of organizations worldwide for more commercial projects, and we look forward to announcing these in due course.
Australia is leading the way for energy market transformation. Last year the Australian Energy Market Commission (AEMC) released a series of reports supporting the concept of a completely new ‘two-sided’ energy market, where consumers would be rewarded for buying and selling energy in real-time.
You can read more about that here.
While we can’t control the market or the pace of policy makers, what we can do is work hard to grow a successful business. To that end we have secured a number of commercial projects for our other products internationally, expanding from our P2P energy trading offering to launching our Virtual Power Plant, environmental commodities trading, uGrid and xGrid products and PPA Vision.
We release POWR Project Escrow reports so the community can track the trajectory of tokens in escrow in relation to the growing number of projects and POWR tokens in use.
Please note that at any given time there might be projects that have been announced that have not yet been included in the total calculation for POWR escrow report – these projects will be included at a later date.
Previous Escrow Reports
In combination with POWR escrowed previously, POWR removed from circulation for projects now totals 2,719,419 and an additional 214,709 burned.