ICOrating

RESTARTENERGY Basic Review (https://restartenergy.io)

ICO dates (23.01.2018 - 23.01.2018)

Web: icorating.com

Email: info@icorating.com

Twitter: @IcoRating

Project details

Name: RESTART ENERGY

Ticker symbol: MWAT

Project type: Energy

Extended company description: The Restart Energy Democracy Platform

comprises software enabling the trading of P2P (peer-to-peer) energy directly in a

simple, decentralized manner. Platform users can access Restart Energy’s services

as well as acquire and use energy resources. The company also offers the first

power retail franchise.

Company: RESTART ENERGY DEMOCRACY SRL

Website

White paper

ICO details

Public ICO start date: 23.01.2018, 10:00 AM (GMT)

Public ICO end date: 23.01.2018, 10:02 AM (GMT)

Token Sale duration: <2 minutes, due to website crash. Likely ~10 seconds actual

duration.

Token type: ERC20

Token emission: 500,000,000

Tokens available (Private Sale + Pre-Sale + Public ICO): 400,000,000

Investment goal:

1 MWAT price: 0.1000 USD

Accepted payment: ETH, BTC, ETC, BCH, XRP, LTC

Bounty: closed after TGE

Token role: functional/utility

Team

Team (number of people): 14

Advisors (number of people): 12

GitHub

Social media

Twitter: Postings: 51, Subscribers: 14,000

Telegram: Subscribers: 10601

Reddit: Subscribers: 470

Medium: Postings: 26

Steemit: Postings: 15, Subscribers: 13

Linkedin: Subscribers: 24

Facebook: Subscribers: 18,092

Youtube: Postings: 8, Subscribers: 312

Project information

The Restart Energy Democracy Platform comprises software enabling the trading of

P2P (peer-to-peer) energy directly, in a simple, decentralized manner. Platform

users can access Restart Energy’s services as well as acquire and use energy

resources.The company also offers the first power retail franchise.

Restart Energy is creating a global energy supply platform that uses the blockchain

protocol to democratize the energy sector, providing direct energy trading based on

the P2P principle whilst using the existing infrastructure.

82% of Restart Energy is owned by the Armand Group, the most successful

renewable project developer in Romania, with more than 500 MW of solar and other

renewable sources developed through its subsidiary Armand Consulting. The other

18% is owned by the TVSat Group – the largest regional Media and Telecom

company in Romania.

Restart Energy is an independent European Union electricity and gas supplier. The

company has 20 million USD in current annual revenue, has developed the first

energy retail franchise and is building a global, decentralized and delocalized

electrical energy supply platform and ecosystem.

Restart Energy is the fastest growing supplier of electricity and gas operating in any

EU country (Romania), and offers an innovative customer-oriented online service

with greater transparency. Currently (January 2018), Restart Energy’s client base

includes over 3000 SMEs and multinational companies that use electricity, gas and

fuel supply packages; there are more than 27,000 household energy and gas

consumers in addition. Restart Energy is the first European energy supplier that

accepts energy bill payments in Bitcoin (September 2017).

The platform offers the following services:

• purchase and sale of energy

• purchase of a franchise for resale of energy

• payment of bills for energy resources

• access to software for forecasting the volume of energy production, known

as WattPredict

• a facility for obtaining certificates of renewable energy for using renewable

sources

Advisors:

Catalin Ivan (Linkedin) - Member of the European Parliament and previously

President of PSD Sector 1, member of the Committee for Development and External

Relations at Consiliul Judetean Iasi, Chairman of the Committee on health at

Consiliul Local Iasi.

Vlad Trifa (Linkedin) - Head of the product management department at Ambrosus,

founder of Web of Things. Previously head of the digital laboratory at Swisscom, co-

founder of EVRYTHNG.

Michael Enescu (Linkedin) - Co-founder and CEO of Energy Adaptive Networks,

consultant at Caltech, Technical Director at Cisco. Previously founding partner at the

Linux Foundation.

Ayako Miyaguchi (Linkedin) - Advisor to the Kraken Digital Asset Exchange.

Previously managing director of Kraken Bitcoin Exchange, co-founder of TABLE

FOR TWO.

Rafael Friedmann (Linkedin) - Member of the board of Chile California Council.

Previously worked extensively at the Pacific Gas and Electric Company.

Junko Nagao (Linkedin) - Founder of Vision Sprout. Previously executive director

for C4, graduate manager of the U.S.-Japan Council.

Nicoleta Almaj - Murariu (Linkedin) - Managing Partner at Almaj & Albu SCA.

Previously senior associate at Garrigues, Stefanica Dutu & Asociatii SCA.

Alexandra Cristina Popa (Linkedin) - Director, Head of Investment Banking at BT

Capital Partners, managing director of Investment Banking at Oaklins;

Thomas L. Rosenberg (Linkedin) - Founder, director and consultant for

management/trainer at Regenerate Coaching. Previously trainer for sustainable

development at REV!, co-founder of HeartStorm Collective.

Alex S. Vlaicu (Linkedin) - Investment analyst at BT Capital Partners, previously:

Senior Financial Analyst at Libra Internet Bank, Financial Analyst at Tradeville.

William Davis (N/A).

Susaye Greene (Linkedin) - National Director of Music, Film and Art Department of

Peace Prize Foundation and SRN, member and ambassador of Goodwill for Peace

in All world, president of Dollface Music International.

Partners:

THT – Technology and software partner.

innovation. 44 – Partner for commercialization and deployment of technologies.

ROSENC – Partner for promoting Romania and the Western region as a leader in

the field of renewable energy sources to enhance competitiveness of organizations.

LDJCapital – Development consulting partner.

Block X Bank – Investment bank.

Armand Group – Owner of Restart Energy.

AmaZix - ICO consultant.

Monaco Growth Forums – Exclusive conference for developing companies.

Clearify – Security partner.

Bancor – Enabling MWAT liquidity, conversion, and the Bancor Protocol™.

BoostIT HUB – IT&C company, blockchain consultant.

PATRES – NGO representing 100 renewable energy producers’ interests, to join the

RED Platform when launched.

Alive Capital – The largest renewable energy asset management group in Romania.

REPOM – Clean energy producer.

Helioexpert (N/A) – Solar energy producer.

Energy supply partners: Profi, Valeo, Ertex, Otmar, Ecoland, italplast and others

(3000 companies).

Investments attracted: N/A

Company key numbers:

• Revenues in 2016: 5.45 million USD (>400% growth from 2015)

• Revenues estimated for 2017: 20 million USD (+425%); revenue forecast for

2018 is 100 million USD (+500%)

• 30,000 customers (27,000 households + 3,000 companies)

• 40,000 payment locations in Romania

• 300+ energy franchises sold to business partners in Romania

• Monthly growth rate is over 10%

• Strong partners: EuroGSM (Orange Telecom Dealer) + InterBroker + GRS +

AMVV

According to the project, Restart Energy was recognized as the number one

independent energy supplier in the Romanian deregulated domestic gas market and

is second in the Romanian deregulated energy market.

Summary

The project is led by Restart Energy - part of the Armand Group - a group of

companies that specialize in renewable energy and have developed numerous

renewable energy projects in Romania. Restart Energy has had facilities

successfully operating and developing since 2015.

Strengths of the project:

• The project has a strong management team, partners and advisors.

• The market niche has broad prospects, especially in the light of reduction in

regulation of the electric power industry.

• The project is led by a working business which has users and partners.

Weaknesses of the project:

• The project team does not have blockchain technical specialists.

• There are risks associated with the legal and administrative regulation of trade

and the provision of energy resources for cryptocurrency.

Market and Industry

According to the annual Energy Information Administration report, total energy

production will grow by more than 20% from 2016 to 2040, mostly due to the

increased production of renewable energy sources, natural gas and crude oil. The

same figures are confirmed by an ExxonMobil report.

Regarding the natural gas market, EIA predicts that demand will reach 3.9 trillion

cubic meters in 2021 with an average increase of 1.5% per year, equivalent to an

increase of 340 billion cubic meters between 2015 and 2021.

For the period 2006 – 2030, the amount of consumed energy will increase by 44%,

again according to Energy Information Administration forecasts. According to experts

from Frost & Sullivan, Europe, with its obsolete generation capacity, will require the

commission of about 25 GW of additional capacity every year until 2020.

[https://www.eia.gov/outlooks/aeo/pdf/0383(2017).pdf],

[http://cdn.exxonmobil.com/~/media/global/files/outlook-for-energy/2016/2016-

outlook-for-energy.pdf], [https://www.mckinseyenergyinsights.com/services/market-

intelligence/reports/global-gas-and-lng-outlook/],

[http://neftegaz.ru/analisis/view/7547-9-tendentsiy-razvitiya-mirovoy-energetiki-do-

2020-goda]

According to research undertaken in 2016 by the project team, worldwide electricity

consumption reached 21,908 TWh (terawatt hours). Asia and the Americas account

for 43.1% and 27% of the total respectively.

China accounts for 58% of the Asian market while India accounts for 12%. In other

words, China consumed about 25% of global electricity in 2016.

The annual value of the global electricity market is about $2 trillion.

Comments: Based on the above analysis, the key point is rapid growth in the energy

market which will assist the company to consolidate its position.

Competitors

The following competitors are represented in the white paper:

Enel - A global vertically integrated energy company that manages electricity

networks and is updating them in three regions: Banat, Dobrogea and South

Muntenia.

CEZ - The Czech national energy company, which owns one distribution region in

Romania.

EON - A German vertically integrated energy-supply company that supplies some

natural gas and electricity to Romania.

Electrica - A leader in the energy supply market for Romania, as well as one of the

most important companies in the energy supply sector.

Amongst blockchain-based platforms in the energy sector, the following competitors

can be distinguished:

WePower - WePower's goal is to build a decentralized platform for trading renewable

energy. WePower is planning to commence operations in Spain in 2018.

EnergiMine - EnergiMine's goal is to build a global decentralized energy supply

market by encouraging energy-efficient behavior.

PowerLedger - Power Ledger is aimed at creating a decentralized platform that will

ensure interoperability between various market management/pricing mechanisms

and power objects using tokens.

There are also the following competitors:

Prosume - A blockchain-based platform that enables users to buy and sell electricity

and gas from renewable and fossil energy sources using smart contracts.

Gridplus - A platform using the Ethereum blockchain to provide consumers with

direct access to wholesale electricity markets (solar batteries, solar energy).

Summary: The main differences from competitors whose platforms are also built on

blockchain technology are the provision of licenses and turnkey franchises, the

facility for obtaining certificates of renewable energy, an existing client base, global

tokenization of energy, p2p energy producer/user trading and Green Certificates for

users (not producers) of renewable energy.

Engineering features of the platform

Restart Energy uses the Ethereum platform and smart contracts.

Restart Energy has also invested in the development of a wireless smart metering

system that estimates solar energy production for the next day. It takes into account

data from various sources such as the history of sunlight levels, solar radiation and

cloud cover at different times in different places.

Technical description

The platform grants access to the following services for token holders:

• The purchase and sale of energy.

• Franchises:

• 1st type - Resale / Mediation.

• 2nd type - Franchise owner of a retail energy company.

• Renewable energy certificates (Green Certificates). These will store

information on energy source, producer, consumer/user, and certificate

holder.

• Web and mobile application: all services are accessible via web interface

or web browser and smartphone using the Restart Energy mobile

application, which supports both iOS and Android (already functioning).

• Restart Energy enables its customers to pay bills for energy and gas in

Bitcoin, via ZebraPay POS terminals (already functioning).

- WiFi Counters provide real-time consumption/power generation (already

functioning).

• Software for predicting solar energy – Watt Predict (already functioning).

The Restart Energy Democracy platform (RED-P) will directly connect end-users to

producers through the existing network via smart contracts, with licensed local

private energy suppliers managing all their procurement activities as a service and

including them in the same virtual regulatory group managed by the system.

Comments: As stated in the white paper, Restart Energy has already reached 75%

percent of development of the required software components and automation

process which will constitute the RED Platform. In addition, screenshots of platform

applications already functioning are presented.

We also note that Restart Energy owns a license for the supply of electricity.

Technical roadmap

In the future, with the development of technology and the amount of data it is

planned to implement the following:

• February 2018: Integration of blockchain into the RED platform.

• March 2018: Development of a module for the P2P exchange of

energy.

• April 2018: Development of MVP.

• May 2018: Platform testing (internal).

• June 2018: Launch of the product with selected producers/consumers.

Comments: The roadmap presents a strategy for product development.

However, the team does not have blockchain technical specialists; this entails that

the development of the platform is handled by a third-party company.

The following active modules are available in the open repository:

Comments: there is one open module.

• RestartEnergyICO - smart contract. The repository belongs to

TransylvaniaHighTech, and all changes were made by the technical director

of Restart Energy. Last modified 5 days ago (on 19.01.2018).

Summary: the project team is developing its franchise in addition to the platform.

Documentation

We have analyzed the RESTART ENERGY website and documentation for

sufficiency and consistency regarding an investment decision.

Information about the project is contained in the white paper, Terms and Conditions,

Privacy Policy and Summary in English, Russian, Spanish, Italian, French, Korean,

Chinese, Japanese, Arabic and Vietnamese. The project is described in sufficient

detail in the white paper. The main focus is on the development of the energy market

and of Restart Energy.

The website also provides information about the project, the roadmap, frequently

asked questions, company, franchise, bounty campaign (closed), advisors and the

team. The website is available in Russian, Spanish, Italian, French, Korean,

Chinese, Japanese, Arabic and Vietnamese. Features of the site include a question

and answer column, links to blogs and a bounty campaign (closed).

Summary: The documentation enables a comprehensive view of the project.

Components of the platform are described in sufficient detail.

ICO

Tokens issued for sale: 80%

Public ICO start date: 23.01.2018, 10:00 AM (GMT)

Public ICO end date: 23.01.2018, 10:02 AM (GMT)

Token type: ERC20

Accepted payment: ETH, BTC, ETC, BCH, XRP, LTC

1 MWAT price: 0.1000 USD

Main Sale duration: <2 minutes, due to website crash. Likely ~10 seconds actual

duration.

RED MegaWatt tokens are tokens that are supported by real opportunity.

Each RED MegaWatt (MWAT) token enables the trading and storage of 1 MWh of

energy. Restart Energy will provide an initial charge of 0.11 kWh for each MWAT.

Over time, the amount of energy in each MWAT will continue to grow from an energy

community fund that collects 1-5% of total grid energy.

Restart Energy will operate with a two-token model, the MWAT and KW tokens, with

each token being ERC-20 compliant.

Transactions on the RED platform will be implemented using KW tokens. Each KW

token will equal 1 KWh of energy; it can be purchased by RED platform users with

crypto or fiat currencies, for consumption or selling of energy on the RED platform.

KW will be used internally and will be directly subordinate to MWAT; it cannot be

bought or sold anywhere else.

Using tokens on the platform:

Token limitation: 500,000,000

Advantages for token holders: MWAT holders can trade tokens on exchanges or

gain access to the platform, where MWAT enables them to trade, consume or sell

energy to other users.

Token holders having access to the RED platform will have their MWAT

automatically charged by a certain number of KW tokens each month (one KW token

corresponds to one KWh of energy), directly proportional to the number of MWAT

Tokens owned. Token holder accounts will be actively replenished every month from

the Community Energy Fund in proportion to the number of available tokens, i.e. will

be rechargeable.

Dividends: No

Additional token emission: N/A

Escrow: N/A

Max goal: 30,000,000 USD

Current amount: 30,000,000 USD

MWAT tokens are planned to be listed on exchanges a few weeks after the TGE.

Bounty

Link to the bounty program

The project allocated 3% of sold tokens for the Bounty program. It is now closed.

Summary: The project offered an extensive bounty program. All bounty conditions

prior to the end of the program, are indicated at the link above. Rewards will be

distributed within 30 days of the end of the TGE.

Token and capital distribution

Tokens and capital are distributed according to the following scheme:

Use and lockup of team tokens (12%):

• 50% will be available at same time as for the public, roughly 1 week after the

TGE.

• 25% will be locked for 6 months.

• 25% will be locked for 12 months.

Summary: Tokens do not affect the distribution of shares in the company. The

incentive system is built in such way that it is more profitable to buy tokens earlier.

Development plans

The roadmap

Restart Energy is planning to acquire 10 MW of renewable energy production assets

at the beginning of 2018.

February 2018: Integration of blockchain into the RED platform.

March 2018: Development of a P2P module for the exchange of energy.

April 2018: Development of MVP.

May 2018: Platform testing (internal).

June 2018: Launch of the product for selected producers/consumers.

August 2018: Country-wide launch.

October 2018: Beginning of expansion on global scale.

Summary: The team has presented a plan for the development and expansion of

the product. A detailed plan for scaling can be seen on the website and in the white

paper.

A business plan is also presented, detailing the expansion of the RED platform’s

activities in more than 45 countries, opening more than 4,000 franchises and

attracting more than 9 million customers. By implementing this plan, according to

project estimates revenues will reach $3.78 billion in 2023 with a total annual growth

rate of 161%.

Team

The team consists of 14 people and 12 advisors. Information about the main team

members based on LinkedIn is given below:

Armand Doru Domuta (Linkedin) - CEO and Founder. Owner of Watt Predict,

executive director of Armand Energy, CEO and owner of Lotus Energy SRL.

Renato Doicaru (Linkedin) - Operating Director and Co-Owner. PV Plant operational

manager at Armand Group, previously PV project manager for Armand Group.

Cristian Bogdan (Linkedin) - CFO. Previously director of BRD - Groupe Societe

Generale, corporate director at BCR and corporate regional manager for Raiffeisen

Bank Romania.

The team has 11 people in addition to the above.

Summary: All team members have indicated their affiliation with Restart Energy,

except for the head of business development.

The team possesses the following specialists: A technical director, a software

architect, head of sales department, head of international business development,

TGE sales manager, PR manager, marketing manager, market specialist,

accountant, gas supply head and and online sales manager.

Marketing

Information about the project is available via various popular services such as

Twitter, Telegram, Reddit, Medium, Steemit, LinkedIn, Facebook, GitHub,

BitcoinTalk and YouTube. The project undertook a bounty program that ran until the

TGE finished.

The team is active on social media. Twitter and Facebook regularly update news.

The team leads two blogs and communicates with users on Telegram.

The format of blog articles about the project indicates that they were written mainly in

house.

Comments: Interest in the project is at a high level. The marketing campaign is

developed mainly on Facebook, Twitter, and BitcoinTalk.

Traffic analysis of the RESTART ENERGY website based on Similarweb.com data

showed the following (pre-TGE):

Traffic source: Similarweb

Comments: direct link: 41.72% , referrals: 30.72%, search: 5.88%, social media:

21.34%, mail: 0.33%

Search traffic: 5.88%, 100% of which is 'organic'.

Referral links: 30.72%

Analysis of the social activity on the RESTART ENERGY website based on BE1.ru

data showed the following:

Referral links: icoalert.com - 54.56%, bitcointalk.org - 29.10%, bountylord.com -

10.81%, hacked.com - 4.45%, ico-blockchain.online - 0.81%.

Social activity: Reddit - 50.42%, Facebook - 36.14%, YouTube - 9.58%, LinkedIn -

3.19%, VK - 0.67%

Traffic analysis of the RESTART ENERGY website based on analysis data showed

the following:

Traffic source: https://a.pr-cy.ru/restartenergy.io

Website rating: 0.69

Activity: visitors: 15,533, views: 62,130.

Social activity: score: 13,186, source: VK - 10, Facebook reposts -13,176.

Summary: Based on the available data, the community is interested in the project.

The team conducts an advertising campaign on Twitter, Facebook, BitcoinTalk, and

communicates with users on Telegram, leads two blogs and uploads videos on

YouTube.

There are many media publications. Over the last month, website traffic has grown 5

times. The number of visits to the website is about 26,000 per month.

[https://be1.ru/stat/restartenergy.ro]

Contacts

The developers may be contacted using the links below:

Website

Twitter

Telegram

Reddit

Medium

Steemit

LinkedIn

Facebook

GitHub

BitcoinTalk

YouTube

The information contained in the document is for informational purposes only. The views

expressed in this document are solely personal stance of the ICOrating Team, based on

data from open access and information that developers provided to the team through Skype,

email or other means of communication.

Our goal is to increase the transparency and reliability of the young ICO market and to

minimize the risk of fraud.

We appreciate feedback with constructive comments, suggestions and ideas on how to

make the analysis more comprehensive and informative.