LCG Energy: a stable token by a licensed utility provider drives the adoption of renewable energy sources – record revenue of € 40 mn in 2019

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Recently, a well-known European energy company has announced its plans to become the first utility provider to adopt blockchain technology. With over a decade of experience, a record high revenue of €40 in 2019 alone and more than 55.000 customers in Germany and Austria, LCG Energy is among the biggest energy companies in Europe. The company is currently in the process of acquiring multiple renewable energy projects worth more than €80 million, providing its investors with green investment opportunities yielding >20% ROI and allowing it to reach a projected revenue of €200 million in 2020.

LCG Energy: the first utility provider to utilize blockchain

LCG Energy is licensed by the German and Austrian state Federal Network Agencies for Electricity, Gas, Telecommunications, Posts and Railway. Founded in 2008, the company has been supplying electricity and providing services related to the optimization of energy consumption to a customer base of over 50.000 households and small to medium-sized businesses. The company has subsidiaries in 5 European countries and an estimated revenue of nearly 90 million EUR for 2019. Over the years, the company has managed to cut down the cost of electricity for their customers by 20% compared to the market average in Germany, one of the countries with the highest electricity prices in world.

Recently, LCG Energy became the first utility provider in the world to adopt blockchain technology for its operations. The company has been working on a full-fledged energy ecosystem for the past two years. What came out of these efforts is a result that surpassed all expectations – a revolutionary integration between Smart Meters and blockchain technology that would greatly improve the way the meters operate and communicate with the utility company. What is more, blockchain enables advanced automation through artificial intelligence and machine learning algorithms, which allows for a much better efficiency and lower operational costs. Last but not least, by using blockchain technology, utility companies and power plants would have much higher security levels, which has become an issue with the increased degree of digitization of such facilities.

With their digital blockchain platform, LCG Energy plans to make energy-related services more accessible than ever before. Users will have access to a wide array of different services and products at their fingertips without any geographical restrictions. The platform will be integrated to the Smart Meters of LCG Energy and will provide users with real time data reports on their energy consumption, offering transparency in pricing, which is one of the biggest concerns of electricity consumers due to perceived informational asymmetries between them and their utility providers. Furthermore, the platform will also facilitate all payments through the Ethereum blockchain, offering much higher security and convenience.

Empowering renewable energy projects

LCG Energy does not stop there. Since its foundation in 2008 as an energy contractor, the company has been constantly looking into promising renewable energy projects. With its blockchain initiative, LCG Energy found a way to drive the widespread adoption of such projects even further. By dedicating 80% of the proceedings collected via their crowd sale to investments in highly profitable renewable energy projects, LCG Energy will not only protect the price of the LCG token in the long term by securing it with an asset, but it will also provide the needed capital for such projects to thrive. As an experienced energy contractor, LCG Energy has the needed expertise to evaluate the projects prior to the investment in them – each renewable energy initiative would undergo strict due diligence as well as a complex assessment procedure that should determine its market potential. Only projects that are enlisted in land registers (which means they are fully compliant and controlled) would be subject to consideration. The expected average return of investment of these endeavors in the first 5 years is projected to be around 20%. 

As a further measure to support the price of the LCG token in the long term, LCG Energy will buy back LCG tokens from exchanges and burn them, thereby reducing their circulating supply and increasing the value of the investors’ holdings. The buyback program will be continuous with new rounds every six months. This mechanism is used regularly by stock companies that want to protect their shares against strong price fluctuations that might snowball it to zero after a bad short run, something that is very common on the crypto market due to its high degree of volatility.

The LCG Energy ICO

The Initial Coin Offering will commence in 3 phases. With a successful private sale and over $10 million invested, contributors can now participate in the private sale and get a 15% bonus on their investment. In March 2020, the final third round will start and will end on April 30.

If you are interested in LCG Energy and their blockchain initiative, make sure to visit https://lcg-group.de/ for more information about the project and the company behind it.

The post LCG Energy: a stable token by a licensed utility provider drives the adoption of renewable energy sources – record revenue of € 40 mn in 2019 appeared first on The Merkle Hash.

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