Why big business backers put Exergy on the road to an energy revolution
Exergy has secured investment from some key energy and crypto industry players during its private sale – here CEO Lawrence Orsini explains why these strategic supporters put the token on the road to success.
The XRG token is not a traditional crypto token and this is not a traditional ICO – which is why securing good quality early-stage strategic investors that share our long-term vision and bring added value to the Exergy platform has been so crucial.
Exergy is all about freeing energy data created in our neighborhoods, commercial parks and farms. Using blockchain, that data is securely transferred across a distributed network to be cryptographically housed for others to innovate upon. But first, consumers need to own their data, and willingly share it to ultimately be rewarded. We’re creating a global standard for energy data and a platform that will allow consumers to own and control their data. The XRG token is the key to accessing that network.
Demand for the XRG token is driven by its function – which is to grant permission to the Exergy network. Exergy uses a set of energy standards to capture granular grid edge data in a secure and decentralized way. The more people who purchase Exergy tokens and put them to use on the platform, the more this standard will be adopted and the greater the demand for the token will be.
Having Centrica, EPEX SPOT, Braemar Energy Ventures and Alphablock put money behind Exergy and commit to supporting the development of the platform is not only extremely satisfying but also sends a strong signal about Exergy’s credentials.
All of these initial investors understand that Exergy is a global play with long-term impacts and ramifications for economies, deployment and carbon reductions around the planet.The focus is not about making a quick buck. It’s about investing in a limited issue token that will be critical for the strategic growth of Exergy; ultimately leading it to become the globally recognized platform for energy data.
What is most important for me is the industry relevance of the companies that have invested and those who are on the verge of doing so.The fact that Centrica, one of the oldest and most ‘traditional’ utilities, is looking at the adoption of Exergy as an attractive and viable new business model sends a very strong message to the energy industry.
Data is the fuel for the grid of the future and Exergy offers a regulatorily compliant way to create durable value for all stakeholders from utilities to consumers by collecting, securing and providing a choice in the sharing of that data. That is a really important component of what we’re doing here. All utilities will eventually be forced by regulators to unlock that data. Exergy gives them an opportunity to be more in control of that process – which is why we are also in negotiations with other utilities as well.
But utilities are not the most interesting of prospective investors.
We’re in discussions with some of the big manufacturers of home and office equipment because they actually have a lot more data than a utility within their appliances. The XRG token gives them an opportunity to unlock new value streams from things they already sell every day and from the millions of products they have already sold. This is a big opportunity for them.
And on the crypto side, commitment from Alphablock, from an investment, advisory and project development perspective, shows that this is a good and viable use case for blockchain.
As energy networks inevitably move from a centralized business model to one in which distributed renewable resources, storage, EVs and smart home building management systems need to talk to each other, they will need to share data. This platform will provide standards and protocols that unlock data that every utility grid and every smart device produces. And every single market on the planet will have to unlock that data if we are going to get to a truly distributed energy system.
We’re talking about running infrastructure with this data, with Exergy, and what’s really exciting is that we’re now engaging some of the largest utilities and manufacturers of energy consuming devices to do that.
Anything that plugs into a wall produces the kind of data we will be putting on the Exergy platform. And the world has a lot of plugs…