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This Romanian startup launches utility NFTs to produce solar energy

Renewable energy NFT, Canva
Image credit: Canva
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•   A Romanian energy startup founded by local experts launches a first-of-its-kind collection of utility-based renewable energy generating NFTs in the local market.

•   By purchasing an NFT from Energy Vampires, anyone can become a co-owner of a renewable energy production park, earning passive income for at least 25 years.

•   The NFT project will be launched in May, in two stages: pre-sale and public, with an average price of 1 EGLD.

 

In 2021, NFT trading reached $17.6 billion, a whopping 21,000% increase from 2020. What started with a revolution in the art industry further extended to gaming, fashion, real estate, ticketing, and many other industries. The NFT marketplace opens up new revenue streams and major financial gains, yet it doesn’t come without risks.

“Over 95% of NFT collections will be worthless in the next 5 years and this is because, most of the time, the project founders do not think beyond the minting phase, the only purpose is to financially capitalize on an exploding market,” says Valentin Albu, co-founder of Energy Vampires.

Against this background, Energy Vampires aims to offer a fundamentally different NFT project, with a social and environmental impact and long-term returns for the NFT owners. 

85% of the funds obtained from the sale of the 10,000 NFTs from the Energy Vampires collection will go towards the purchase of a renewable energy production park, which will be connected to the national energy system. The money obtained from the sale of electricity, after the payment of taxes, will be returned to the owners of the NFTs through a smart contract. 

“Given the lifespan of a renewable energy production unit, we are talking about NFTs that will generate passive income for their owners for at least a quarter of a century. 

Moreover, we have chosen to build this collection on the Elrond blockchain, a blockchain that is carbon neutral, thus it does not pollute, and supports international efforts to reduce greenhouse gasses,” Valentin Albu adds.

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NFT project roadmap

In the first phase of the project, Energy Vampires plans to start with the installation of production units through photovoltaic panels. Other 100% renewable energy sources will be considered as the project progresses.

“Unlike fossil fuels, solar energy is a sustainable and clean structure, being the most abundant and accessible source of energy. The only limitation of solar energy is our ability to convert it into electricity in an efficient and cost effective way. But solar technologies are becoming more efficient and accessible day by day, making solar energy a viable option for everyone,” the project founders tell The Recursive. 

In Romania, the average annual production of solar photovoltaic electricity is 1300 gigawatt hours. The Romanian solar energy market is expected to grow at a CAGR of 9% between 2022-2027. The Romanian government announced plans to add 3.7GW of solar energy capacity by 2030, bringing total capacity to 4.25 GW.

The founders further added: “After we sell the collection, depending on the EGLD parity with USDT, we will raise a certain amount of money, funds that will be stacked for a while for the purchase of a park with an installed power as high as possible.”

Projects considered are ready-to-build and with a capacity between 1 and 10 MW. They are already prepared with a manufacturer and supplier of equipment to place the order of panels and inverters, and anticipate delivering the first MWh in the network 6 to 12 months after the sale.

Backed by a team of energy experts

Unlike most NFT collections which keep the identity of the founders secret, for Vampire Energy the team is an asset. The two co-founders are well-versed professionals in the energy markets in Romania and Europe. Valentin Albu has been coordinating energy trading activities for French Multinational ultimately company Engie, in Romania, for the past five years, and has more than 14 years of experience in the field. And Ionut Vasilica has 6 years of experience in the market, most recently stepping into the Chief Commercial Officer position at Restart Energy, an independent, local supplier of renewable energy solutions. 

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“The fact that we have the necessary experience and organizational culture gives us an advantage in mitigating the potential risks that may arise during the implementation process and beyond. In order to enter the market as a green energy producer, we have the necessary know-how and the support of some companies that are already present in the consulting, legal, design, and construction part, and in the asset management part we say that we do our best,” the project founders tell us.

“Electricity sets us in motion, being closely related to the evolution of mankind over the last hundred years. Fortunately, technological advances today allow us to produce electricity on a large scale from renewable, non-polluting sources. Our startup aims to support efforts to reduce pollution, through a project that combines two of the industries with major growth potential in the coming years: blockchain and green energy,” concludes Ionut Vasilica.
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Antoanela is an Innovation Reporter at The Recursive with a knack for sustainability and environment protection. She is on a mission to communicate and celebrate innovative ideas and solutions that improve our ability to thrive together on this planet.
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