4New ICO Review
4New is a waste-to-energy blockchain solution, providing eco-friendly, tokenized electricity.View ICO Website
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4New Token Sale
06/01/18 - 08/10/18Whitepaper Website
|Token Price||1 KWATT = 2.00 USD|
4New GitHub Activity
Commits across all public GitHub repositories owned by 4New.
4New ICO Review & Analysis
Sourcing of clean, renewable energy is increasingly important in today’s world. Compounding that is the energy required to operate the blockchain platforms that are becoming more and more popular. 4New is a platform which looks to offset the energy used by cryptocurrency mining, while pushing the advancement of eco-friendly power production.
What is 4New?
Energy consumption of big cryptocurrencies, particularly Bitcoin, has been a hot issue among detractors. What 4New provides is a “clean” cryptocurrency. Not only does it present no harm to the environment, but the processes used are designed to help social and environmental issues.
4New operates a number of “waste-to-energy” power plants. The team identifies that over 2 billion tonnes of waste is generated worldwide, each year. Their plants, whose operational costs will be funded by gate/tipping fees and revenue generated from waste byproducts, are planned to take in 50,000 to 100,000 tonnes of waste per year. This waste will be transferred to electricity – essentially “free” energy.
The plants will help to produce energy for regular household supply, with lower prices afforded by their operating model. 4New energy will also power onsite crypto mining farms. As a result, they plan to provide a blockchain fully powered by the waste that is already created and left sitting in landfills.
Following their ICO, the team plans to begin operating their model in the UK, with the goal of eventually progressing to the US. The plants are expected to generate 10 megawatts of power, with the hope of improving to 40 megawatts over time. The team sets out a plan for regular maintenance and upkeep which will keep their plants running longer than the usual 50 year depreciation period for waste-to-energy facilities. Additionally, management will adopt a reinvestment strategy directed towards the development of further plants in the future.
4New’s token, the KWATT Coin, is representative of the energy produced in their plants. One KWATT embodies one kilowatt’s worth of electricity. KWATT Coin holders will have the ability to direct the energy represented in their tokens, either to the national grid or towards operation of the mining farm.
Total token supply will be 300,000,000 KWATT, of which 67% is available for their ICO. 25% will be put aside for founders and insiders, which will be locked until January 2019. Total fundraising goal is US$75 million.
The Team & Roadmap
Founder and chairman of 4New Varun Datta graduated from UC Berkeley in 2010, and lists management experience in two organizations, one in the UK and one in West Palm Beach, Florida. CEO Sandeep Golechha, COO Peter Teasdale and CMO Charlie Terry all appear to have a decent level of experience in UK businesses.
The team’s technical lead Stephen Fiser doesn’t list the project on his Linkedin, which may be a point of concern. Four more team members are listed on the site, along with 11 advisors, a number of whom cover the waste/energy side.
Construction of their two initial plants is said to have been completed in 2017, and are planned to go live in Q3 of 2018, following the ICO. They hope to hit full plant capacity for both in Q4 of 2018, before beginning expansion and construction of further plants in 2019.View ICO Website