FRED Energy IEO has been announced

FRED (Fund Research into Energy Devices) Energy is a blockchain project that aims to use cryptocurrencies to accelerate the growth of renewable and carbon-neutral energy devices. The project was founded by visionary Michael Josefsen, who saw the potential of cryptocurrencies to raise funds for alternative energy research.

The Problem

The Energy sector is one of the biggest industries in the world with a market capitalization of more than $1.8 trillion. But compared to other industry giants such as media and technology, the energy industry has the slowest growth rate.

One of the biggest reasons for the slow growth of the energy industry is the lack of resources. Unlike the technology industry, the energy industry requires a huge amount of resources. And the majority of resources are with the existing energy sector (fossil fuel), resources for new, cleaner energy are hard to come by.

On a mission to solve this problem and help engineers, scientists and hobbyist inventors developing technologies that will one day release us from fossil fuel reliance, Michael Josefsen founded the FRED project.

The Idea

FRED Energy is using blockchain and cryptocurrency technology to raise funds for the next generation of clean energy projects. The idea behind choosing blockchain and cryptocurrency is that everyone can take part in the energy revolution.

The token of FRED Energy is called the FRED token, and the project hopes of creating many green energy projects on the blockchain. Moreover, FRED Energy plans to fund next-generation energy research to accelerate alternate energy adoption.

Goals

To help investors evaluate the FRED project, the team has come up with tangible and measurable goals which ensure progress within the project. They are as follows,

1. Be recognized as a key player in green energy projects on the blockchain.
2. Become a brand associated with green energy that targets consumer needs
3. Enter the EV charging station market via niche segments and increase market share
4. Incentivize the electric Tuk-Tuk adoption in Asia
5. Aid in the acceleration of alternative energy usage and generation by the consumer
6. Be the main online marketplace for alternative energy products accepting cryptocurrencies
7. Bring new energy saving and generation devices to the market

Area of Focus

Clean Alternative Energy is a vast field and FRED Energy knows that. That’s why FRED Energy has identified key areas of interest which they will be focussing on;

1. EV Charging – Electric Vehicles are the future and as the demand for EV grows, so will the demand for charging stations. FRED Energy will be focussing on this area to create a network of EV charging stations which will power the next-generation EVs. A precursor to their electric charging station is their network of Tuk-tuk charging stations which they will begin from the year 2020.
2. Marketplace – One of the biggest reasons for the lack of clean energy adoption is accessibility. Procuring clean energy materials is tough in today’s market. But FRED Energy plans to change this by creating an online marketplace where people will be able to buy and sell Clean Energy devices such as home EV charging, Solar panels, etc. Moreover, people can purchase items through Cryptocurrencies.

Roadmap

The Roadmap of FRED Energy is as follows,

Q3 2018 – Blockchain launch, a fork of Turtlecoin using CryptoNote

Q2 2019 – Pre sale & IEO token sale start

Q3 2019 – Token Sale Ends

Q4 2019 – Begin work on Project Accelerate

Q1 2020 – Begin implementation of Tuk – Tuk charging stations

Q2 2020 – Project review and source new EV locations

Q4 2020 – Begin implementation of identified EV charging station models

PreSale/IEO

FRED Energy Token is an Ethereum based ERC-20 token. The token supply is limited to 808,000,000 FRED Energy Tokens with the Ticker FRED. The company plans to raise a maximum of $3.6 million through IEO.

Soft cap – $120,000

Hard cap – $3,600,000

There is currently a 100% bonus available for token purchases during the Presale which is being held on their website https://token-sale.fredenergy.org and ends on the 29/08/2019.

The round one IEO exchange for FRED token is Finexbox.com. Investors that take part in the Round one of FRED Energy Token get a 35% bonus. Further IEO’s will be announced for rounds 2 and 3.

Token Distribution

According to FRED’s official token page, the token distribution is as follows.

Advisory Board : 3%

Partners – 3%

Marketing – 5%

Project Reserve – 14%

Coin Swap – 6%

Token Sale – 57%

Founder – 6%

Team – 6%

 

Raised Funds Allocation

According to FRED’s official token page, the funds raised from the token sale will be used as follows,

Project Accelerate – 10%

Project Energise – 75%

Shop.fredenergy – 5%

Marketing – 5%

Legal fees 5%

 

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.