December 7, 2020 By Anthony Capkun
December 7, 2020 – Apple co-founder Steve Wozniak is involved in a new company that aims to “transform and disrupt the energy efficiency market”.
Efforce is a marketplace that enables companies to undertake energy efficiency measures at no cost. Investors are then able to “monetize the transferable energy savings”.
“We can improve our energy footprint and lower our energy consumption without changing our habits,” said Wozniak. “We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects […]”.
The marketplace uses a web-based platform that leverages blockchain and tokens called WOZX.
According to Efforce, energy services companies are often unable to turn to traditional banking channels for funding, as “banks lack the technical expertise to properly assess the return on investment”.
In contrast, “Efforce allows business owners to safely register their energy-upgrade project on the web and secure funding from all types of investors around the world,” said Jacopo Visetti, project lead and co-founder, Efforce.
Under the Efforce model:
• ESCOs register an intended energy efficiency project, which is then validated by the Efforce team.
• Efforce develops the project with the company, including evaluating the investment need, calculating the anticipated return, and creating an Energy Performance Contract (EPC) that details the savings and the duration of the returns for the company and investors.
• The platform then lists the project for crowd contribution. The participants may buy into the project using fractional or whole WOZX tokens.
• Efforce measures energy savings on these projects through smart meters attached to the blockchain. The savings data are loaded to the investor’s profile as an energy credit for use or sale by the investor. Energy credits are distributed in megawatt-hours.
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