Restart Partners With Romania’s Largest Energy Producer

Restart Partners With Romania’s Largest Energy Producer

The largest energy producer in Romania, Hidroelectrica SA, has just signed an energy acquisitions contract with blockchain-based platform Restart Energy, it has been revealed today

As their name suggests, Hidroelectrica are an renewable energy producer which focuses exclusively upon the generation and distribution of hydro-sourced electricity. And with 210 power plants and pumping stations on its books, the company’s electricity output equates to around 30% of Romania’s energy consumption.

Positive Signs of Early Expansion

Included in Hidroelectrica’s portfolio of operations is the Porțile de Fier I (Iron Gate I) Hydroelectric Power Station, the largest dam on the Danube River.

Although established in 2015, Restart Energy launched its MWAT token in a January ICO this year that netted the company around $30 million.

Rouă Denis, Chief Editor for Restart Energy, reports that they already host “a customer base of 27,000 household and 3,000 corporate clients, expanding at more than 2,000 clients per month.” The Restart Energy Democracy (RED) blockchain ecosystem is comprised of the RED-Platform, RED-Franchise and RED-MWAT Tokens.

While franchise partners are required to own a certain number of MWAT tokens in order to qualify for the various franchise tiers in a given geographical region, users are able to trade tokens – and therefore access rights to energy – across borders in a business model that is designed to stimulate the general growth of green energy production tied to the MWAT token. 

According to Rouă, the RED-Franchise enables a “company or entrepreneur to operate their own power utility enterprise, enabling them to start selling energy in more than 35 deregulated energy markets globally.”

The Romanian partnership is thought to represent the blockchain energy start-up’s largest breakthrough to date, coming barely three months after the close of its ICO in late January.