Happy Holiday's From ReWatt Power!
Seasons greetings from the ReWatt team!
2018 was a thrilling year for us, we raised almost a million dollars to support our growth, grew our talented team, collaborated with the Alberta Power Industry to develop and test our technology, and completed the first compliance emissions-offset transaction on the blockchain.
Meeting these milestones in 2018 means that 2019 will be a year of focus and strategic growth. Specifically, we will be focussed on converting our sales pipeline into commercial revenue (currently valued at $15MM). We will start operating globally starting with the United States and then entering the Asian and Central American markets. Exciting times indeed - thanks to you, our community of partners, clients, mentors and supporters.
Thank you for your ongoing engagement and belief that ReWatt Power can lead change in the power industry.
From our ReWatt family to yours; have a very Merry Christmas, Happy Holidays and a prosperous 2019.
Co-Founder & CEO
A Year of Growth: Technical Developments
After a couple years of developing our software solutions that simplify complexity in power markets, ReWatt successfully completed three pilot transactions in 2018 on its distributed energy Ampere platform utilizing blockchain technology. ReWatt consulted with its working group, representing 80% of the power generation in Alberta, to provide input in designing ReWatt’s distributed ledger solution. The three pilot transactions included the trading and settlement of renewable energy credits and compliance offsets.
ReWatt completed its verification audit of the compliance offset pilot transactions with PwC, and has recently signed on EY as its primary assurance partner. With working with the largest global auditing and assurance firms, ReWatt aligns itself with experts to ensure efficient and cost-effective commercial models to deliver solutions that make customers more profitable.
ReWatt Continues to Gain Momentum
· By early 2019, ReWatt will have raised over $1M and expects to complete a Series A offering in Q2 2019.
· ReWatt was one of five companies invited to participate in a Global Climate Action Summit Reception in San Francisco celebrating Canadian Innovation.
· ReWatt is participating in the Canadian Clean Technology Accelerator, a competitive program that helps Canadian companies access the American market.
· ReWatt leadership team traveled to New York, Boston, San Francisco, and Denver to establish its client and investor networks.
· ReWatt was accepted into MaRs as one of their Growth Ventures, which provides ReWatt with access to new markets in Eastern Canada and the United States. MaRs is Canada's largest innovation hub with many resources that ReWatt can leverage to continue to accelerate our growth.
· ReWatt successfully graduated from the Creative Destruction Lab (CDL) program earlier this year and continues to work with the invaluable connections developed through the program.
The most advanced sensor to transaction platform by leveraging machine learning and blockchain technology. ReWatt automates key processes reducing overhead costs of power related transaction and enabling access to new revenue streams.
What’s on Our Mind?
1) Renewables are impacting the entire value chain
2) The value of using blockchain to eliminate inefficiency in the power market
What’s are others saying?
‘EQUS began to work with Rewatt as a partner in this first of a kind pilot because we saw an opportunity to provide a benefit to our members’
-Pat Bourne, CEO, EQUS
‘ReWatt has done well to engage the ecosystem and to develop this novel solution that meets the needs of each of the participants across the network, while unlocking the value of the network for all participants.’
-Mike Brown, Director Product Innovation, ATB