Restart Energy

Designed and backed by the European Union’s fastest growing private energy provider, the RED platform will have 27,000 households and more than 3,000 SME's and multinational corporations ready for use on day one.

About Restart Energy

Restart Energy is a growing private energy and gas provider operating in Romania (EU), with 30,000 customers (27,000 households + 3,000 companies) and a monthly growth rate of over 10%. The company was founded in 2015; revenues presented include $5.45M in 2016, $20M in 2017, and a projected $100M in 2018. The company says it is the first energy supplier in Europe to accept energy invoice payments in Bitcoin. Restart Energy is building a blockchain-based energy supply platform, the Restart Energy Democracy (RED) platform, which is a software solution that enables direct peer-to-peer energy trading. The tokenized energy traded on the RED platform can be physically delivered at local rates in countries with deregulated energy markets where Restart Energy will be present directly or through franchises. Access to the RED platform will be granted with RED MegaWatt tokens. Each RED MegaWatt token will enable trade in up to 1 MWh of energy per month on the RED Platform. Token holders also gain access to RED Franchises and to income from selling energy contracts (10K for municipal, 100K for regional, 1M for national, 10M for national exclusivity with sub-franchises).
The company is targeting retail electrical energy consumers and prosumers, mainly households and SMEs, from the European Union, North America and APAC region. “Restart Energys aim is to become the largest global energy supplier without owning the grid.”

Token Sale Use of Blockchain

Product

3.2
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.

Product

Product Whitepaper

Use of Blockchain

3.2
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

4.0
N/A
4 - Token is essential to platform.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.

Use of Blockchain

The RED MegaWatt Tokens are necessary to access the RED platform software and the RED franchise. Each RED MegaWatt Token gives access to trade up to 1 MWh of energy per month on the RED Platform Software. The platform utilizes an additional, internal KW token, representing a unit of energy, whose value is matched automatically depending on local energy rates. Transactions on the platform will be done using KW tokens, which are purchased by users to be consumed or sold. MegaWatt token holders will automatically be assigned, on a monthly basis, a number of KW tokens directly proportional to their held amount of MWAT tokens, with the initial amount of 0.11 KW per MWAT. Energy producers and suppliers are required to allocate between 1% and 5% from each energy transaction on the platform to the Community Energy Fund, from where KW tokens are distributed to the RED MegaWatt token holders, who can in turn either consume the allocated energy or sell the tokens on the platform at any time, thus ensuring liquidity even for investors who are from places where Restart Energy is not yet present.

Use of Blockchain Roadmap

Whitepaper

3.4
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

Whitepaper is long (88 pages), repetitive and unstructured, going back and forth between market analysis and platform features with varying amount of detail. Most issues are covered, but it is somewhat difficult to get the picture.

Whitepaper Compliance

Roadmap

3.6
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

4.0
N/A
4 - Past a few hurdles.

Roadmap

Planned Milestones (2018): integration of blockchain in the RED platform (Feb), development of peer to peer energy exchange module (Mar), MVP Development (Apr), internal testing (May), limited launch with selected producers/consumers (Jun), country-wide launch (Aug); beginning of worldwide expansion (Oct). No further details are given and future platform development is not addessed. The company “has already achieved 75% development level of the software components and process automation that will be the RED Platform. Further development of the RED Platform for blockchain integration will include the energy exchange module and small adaptations for each individual energy market.”
* Restart Energy is planning to acquire 10 MW of renewable energy production assets in the beginning of 2018: 5 MW Small Hydro Plants (10M+ KWh annual) and 5 MW Solar Parks (6M KWh annual). The company is also planning the development of a 5 MW geothermal turbine in 2018 funded 75% with an EU grant. 10% of annual energy production will be transferred to the RED Community Energy Fund.
* Expansion plan begins with Eastern Europe (Balkan countries) in 2018 as the platform is being developed, and quickly moves on to the US and Canada, Japan and Singapore, as well as Western Europe in 2019, followed by Australia and New Zealand, Scandinavia, and parts of the Far East in 2020. Then come China, Brasil, Chile, and South Africa in 2021; Russia, India, and Indonesia in 2022; Israel and Mexico in 2023. “The expansion plan was made taking into consideration only the jurisdictions that have at least started the liberalization process for their energy markets or publicly declared that have plans of liberalization. Given this, we mention that the presented expansion plan is subject to external factors such as changes of the energy-related legislation from the selected countries or other potential markets.” Specific market entry plans are not given.

Roadmap Company and Team

Compliance

3.8
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

4.0
N/A
4 - Not as such, or compliance is assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.

Compliance

MWAT tokens are defined as ERC20 utility tokens that give access to the RED platform and to the RED Franchise. The tokens are not used for payment. KW tokens are internally used on the platform as representing units of energy. MWAT tokens give access to trade up to 1000 KW Tokens/Month on the platform. MWAT accounts will receive KW tokens monthly, provided by the producers as a fee for accessing the platform. In order for this electricity to be consumed, the token holder has to be an energy customer of Restart Energy or a RED Franchise.
* Franchises need to own a certain number of MWAT tokens to operate, and the whitepaper suggests “Be the first to secure your retail energy franchise in your country and resell it to other private suppliers or companies after the Token Generation Event (TGE).”
* Detailed, 5-page long “Disclaimer – Risks and Disclosures” followed by 5-page long memo from ALMAJ & ALBU SCPA dated 22.12.2017 regarding “Romanian legal provisions related to securities and use of tokens”. The company reserves the right to develop and apply KYC rules and procedures and allows no withdrawal right.
* Only registered users that have passed KYC and AML will be able to see the token address on the website.

Compliance Token Sale

Company and Team

4.0
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

Founded in 2015, Restart Energy is owned 82% by Armand Group (a renewable project developer in Romania, founded in 2009, “with more than 500 MW of solar and other renewable sources developed through its subsidiary Armand Consulting”) and 18% by TVSat Group (regional media & telecom company in Romania). Restart Energy founder and CEO, Armand Doru Domuta, is also the owner of Watt Predict, the executive manager of Armand Energy, and the CEO-owner of Armand Group. Cofounder and COO Renato Doicaru is a PV plant operating manager with Armand Group. CFO Cristian Bogdan was previously Director at BRD – Groupe Societe Generale and has years of experience in banking and the financial industry, and CTO Andrei Avram is also founder and CEO of Transylvania High Tech, a software company that develops chatbots, mobile, web and Ethereum Blockchain smart contracts, and an expert evaluator of Open Disruptive ICT Innovation “ODI” SME Instrument proposals, under the EU H2020 Programme. Ten additional team members are listed, mostly marketing and sales, also one head of gas supply and one lead software architect. The website also lists twelve advisors, including MEP C?t?lin Sorin Ivan.
* Restart Energy currently employees 70 people directly at its head offices in Timisoara and Bucharest, and over 1,000 indirectly through 300 business franchise partners in the 200+ commercial locations where it sells energy and gas subscriptions to households and SMEs.”

Company and Team Product

Token Sale

3.4
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

5.0
N/A
5 - Exceptional presence and interest, having credibility.

Token Sale

“We will create roughly 500 Million RED MegaWatt Tokens.” Each MWAT will cost equivalent of 0.10 USD in ETH. Hard cap is USD 30 Million. Unsold tokens will be burned.
* Token Distribution: 80% sold, 12% kept by the team in a lockup structure (50% available at the same time as for the public, roughly 1 week after the TGE, 25% locked for 6 months and 25% locked for 12 months), 5% given to advisors in a lockup structure, 3% for Bounty program.
* Fund Allocation: 20% to consolidating the current business through acquisition of 10 MW operational solar and small hydro power plants and start of activity in other energy deregulated EU countries. (10% of the yearly energy production of the newly purchased power plants will be allocated to the special energy fund of the RED community). 20% to development of the RED platform and 60% to business expansion.

Product

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.
Product Score:
3.2

Use of Blockchain

The RED MegaWatt Tokens are necessary to access the RED platform software and the RED franchise. Each RED MegaWatt Token gives access to trade up to 1 MWh of energy per month on the RED Platform Software. The platform utilizes an additional, internal KW token, representing a unit of energy, whose value is matched automatically depending on local energy rates. Transactions on the platform will be done using KW tokens, which are purchased by users to be consumed or sold. MegaWatt token holders will automatically be assigned, on a monthly basis, a number of KW tokens directly proportional to their held amount of MWAT tokens, with the initial amount of 0.11 KW per MWAT. Energy producers and suppliers are required to allocate between 1% and 5% from each energy transaction on the platform to the Community Energy Fund, from where KW tokens are distributed to the RED MegaWatt token holders, who can in turn either consume the allocated energy or sell the tokens on the platform at any time, thus ensuring liquidity even for investors who are from places where Restart Energy is not yet present.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

4.0
N/A
4 - Token is essential to platform.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.
Use of Blockchain Score:
3.2

Whitepaper

Whitepaper is long (88 pages), repetitive and unstructured, going back and forth between market analysis and platform features with varying amount of detail. Most issues are covered, but it is somewhat difficult to get the picture.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
3.4

Roadmap

Planned Milestones (2018): integration of blockchain in the RED platform (Feb), development of peer to peer energy exchange module (Mar), MVP Development (Apr), internal testing (May), limited launch with selected producers/consumers (Jun), country-wide launch (Aug); beginning of worldwide expansion (Oct). No further details are given and future platform development is not addessed. The company “has already achieved 75% development level of the software components and process automation that will be the RED Platform. Further development of the RED Platform for blockchain integration will include the energy exchange module and small adaptations for each individual energy market.”
* Restart Energy is planning to acquire 10 MW of renewable energy production assets in the beginning of 2018: 5 MW Small Hydro Plants (10M+ KWh annual) and 5 MW Solar Parks (6M KWh annual). The company is also planning the development of a 5 MW geothermal turbine in 2018 funded 75% with an EU grant. 10% of annual energy production will be transferred to the RED Community Energy Fund.
* Expansion plan begins with Eastern Europe (Balkan countries) in 2018 as the platform is being developed, and quickly moves on to the US and Canada, Japan and Singapore, as well as Western Europe in 2019, followed by Australia and New Zealand, Scandinavia, and parts of the Far East in 2020. Then come China, Brasil, Chile, and South Africa in 2021; Russia, India, and Indonesia in 2022; Israel and Mexico in 2023. “The expansion plan was made taking into consideration only the jurisdictions that have at least started the liberalization process for their energy markets or publicly declared that have plans of liberalization. Given this, we mention that the presented expansion plan is subject to external factors such as changes of the energy-related legislation from the selected countries or other potential markets.” Specific market entry plans are not given.

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

4.0
N/A
4 - Past a few hurdles.
Roadmap Score:
3.6

Compliance

MWAT tokens are defined as ERC20 utility tokens that give access to the RED platform and to the RED Franchise. The tokens are not used for payment. KW tokens are internally used on the platform as representing units of energy. MWAT tokens give access to trade up to 1000 KW Tokens/Month on the platform. MWAT accounts will receive KW tokens monthly, provided by the producers as a fee for accessing the platform. In order for this electricity to be consumed, the token holder has to be an energy customer of Restart Energy or a RED Franchise.
* Franchises need to own a certain number of MWAT tokens to operate, and the whitepaper suggests “Be the first to secure your retail energy franchise in your country and resell it to other private suppliers or companies after the Token Generation Event (TGE).”
* Detailed, 5-page long “Disclaimer – Risks and Disclosures” followed by 5-page long memo from ALMAJ & ALBU SCPA dated 22.12.2017 regarding “Romanian legal provisions related to securities and use of tokens”. The company reserves the right to develop and apply KYC rules and procedures and allows no withdrawal right.
* Only registered users that have passed KYC and AML will be able to see the token address on the website.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

4.0
N/A
4 - Not as such, or compliance is assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.
Compliance Score:
3.8

Company and Team

Founded in 2015, Restart Energy is owned 82% by Armand Group (a renewable project developer in Romania, founded in 2009, “with more than 500 MW of solar and other renewable sources developed through its subsidiary Armand Consulting”) and 18% by TVSat Group (regional media & telecom company in Romania). Restart Energy founder and CEO, Armand Doru Domuta, is also the owner of Watt Predict, the executive manager of Armand Energy, and the CEO-owner of Armand Group. Cofounder and COO Renato Doicaru is a PV plant operating manager with Armand Group. CFO Cristian Bogdan was previously Director at BRD – Groupe Societe Generale and has years of experience in banking and the financial industry, and CTO Andrei Avram is also founder and CEO of Transylvania High Tech, a software company that develops chatbots, mobile, web and Ethereum Blockchain smart contracts, and an expert evaluator of Open Disruptive ICT Innovation “ODI” SME Instrument proposals, under the EU H2020 Programme. Ten additional team members are listed, mostly marketing and sales, also one head of gas supply and one lead software architect. The website also lists twelve advisors, including MEP C?t?lin Sorin Ivan.
* Restart Energy currently employees 70 people directly at its head offices in Timisoara and Bucharest, and over 1,000 indirectly through 300 business franchise partners in the 200+ commercial locations where it sells energy and gas subscriptions to households and SMEs.”

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
4.0

Token Sale

“We will create roughly 500 Million RED MegaWatt Tokens.” Each MWAT will cost equivalent of 0.10 USD in ETH. Hard cap is USD 30 Million. Unsold tokens will be burned.
* Token Distribution: 80% sold, 12% kept by the team in a lockup structure (50% available at the same time as for the public, roughly 1 week after the TGE, 25% locked for 6 months and 25% locked for 12 months), 5% given to advisors in a lockup structure, 3% for Bounty program.
* Fund Allocation: 20% to consolidating the current business through acquisition of 10 MW operational solar and small hydro power plants and start of activity in other energy deregulated EU countries. (10% of the yearly energy production of the newly purchased power plants will be allocated to the special energy fund of the RED community). 20% to development of the RED platform and 60% to business expansion.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

5.0
N/A
5 - Exceptional presence and interest, having credibility.
Token Sale Score:
3.4

Use this code to share the ratings on your website