One of the main concerns of today’s society is climate change. While important political discussions are being held around the globe for governments to approve legislations that would reduce polluting emissions in air and water, independent projects are always being released which propose new visions and alternatives to make small efforts towards attacking the problem before it becomes too late.
Among these projects is Gigajoule: inspired by the advancements in the energy generation industry, and with the help of some big names, this Malta based company is proposing a model of floating power plants, that take advantage of the vastness of water bodies and suitable weather conditions to generate enough clean energy to supply millions of people.
In Dire Times…
The lack of a stable energy supply is currently one of the main socioeconomic problematics in the world, with 16% of the world’s population having very difficult access to electricity, or no access at all. It has become so concerning that is has been recognized as its own separate class of poverty, with numerous multinational initiatives being funded by independent and governmental institutions.
And when we talk about the access to electric energy, the biggest problem comes with the distribution, not only of the generated energy but also of the means of production. With so many renewable resources that can be used to generate green energy, it’s expected for a big number of innovative projects, and Gigajoule stands out among the rest.
With both sustainability and resourcefulness in mind, the Gigajoule team managed to develop a solution that may bring stable energy for millions of people: natural gas-fueled floating power plants. By partnering with Siemens for the development of their technology, funding by the World Bank, and constant support by numerous Nigerian government agencies (Nigeria Electricity Regulatory Commission, Nigeria Bulk Energy Trader and the Transmission Company of Nigeria, among others), their plan is to deploy these plants in 3 strategic locations in Nigeria, where 45% of the population does not have access to energy.
Modern Problems Require Modern Solutions
Besides working with state-of-the-art technology for the generation of energy, the Gigajoule project is also taking advantage of the new ways that have been developed to raise funds and offer stakes in the company by holding an STO (Security Token Offering), with a fundraising hard cap of $14.4 million and the opportunity for investors to receive up to 15% of Gigajoule’s annual dividens, depending on the proportion of GIGJ they hold.
With this model, the Gigajoule team shows projections for stable income for the upcoming 20 years, via the Power Purchase Agreement, with an approximate revenue of $368 million and yearly net profits to increase around the half point of the agreement. Should these initial plants manage to fulfill their expectations in terms of revenue and supply, it could be the start of a new era in the energy industry, widening the horizon on the usable terrains for generation.
All in all, Gigajoule wants to hardly revolutionize the way we think about energy, to twist the entire model around and focus first on the ones that need it most, to inspire a change for the benefit of the environment while also proving that solutions are achievable via innovation, creativity and willingness. They are currently in the pre-sale stage of the GIGJ token, with the STO officially starting on January 1st, 2020, so it’s the perfect time to gain some insight on the project and take the decision to invest.