Overview

Hive Power provides anyone with the possibility to create and manage energy communities on the Ethereum blockchain.

Project stage

Only a whitepaper

Detailed description

Hive Power develops a turnkey solution for the creation and management of local energy communities on the blockchain, called Hives. A Hive is a distributed energy market platform regulated through smart contracts where every prosumer can buy and sell electrical energy. 

Like in the real world, a Hive is composed by a set of Workers, who provide for the livelihood of the “colony”, and a Queen, who rules and coordinates them. The Workers consist of blockchain-enabled smart meters, which allow their users to participate in the local market and interact with it through an User App. Each Hive has an Administrator who sets it up and manages it. The management of Hives is performed using an Admin App, which provides access to a smart contract called the Beekeeper.

Differently from its competitors, in addition to the blockchain platform Hive Power also provides an efficient energy trading mechanism perfectly tailored to the use case of energy communities. The HONEY algorithm exploits customers’ flexibility to optimally match production and consumption, such that the community’s welfare is maximized and grid technical constraints are satisfied.

Hive Power:

  • Enables the decentralized energy revolution
  • Guarantees benefits for consumers and producers
  • Enhances your local energy share
  • Increases electrical grid reliability
  • Optimizes your energy assets profitability
  • Promotes sustainable energy consumption

Problem

The power sector is facing a paradigm change, moving from a centralized structure with big power plants (hydro, coal, gas and nuclear) to a decentralized scenario of distributed energy resources (DER), such as solar and wind. Within this framework, a new actor is emerging, the prosumer, i.e. households or organizations which at times produce surplus energy and feed it into a distribution network; whilst at other times (when their energy requirements outstrip their own production) they consume energy from that grid. The transition to a prosumer-driven electrical grid can be quite bumpy. 

The lack of centralized planning and the increase of intermittent electricity production in the lower levels of the grid due to the penetration of solar generation raise the stress on the electrical distribution grid. This can lead to severe power quality problems, especially voltage violations and line congestions, with which the distribution system operators (DSOs) need to cope. These problems are intensified by the increase of electricity consumption due to electrical heat pumps and electric vehicles, which further increase power oscillations within the distribution grid.

Solution

The goal of Hive Power is to create energy sharing communities where all participants are guaranteed to benefit from their participation, and at the same time achieve a technical and financial optimum for the entire community. This is achieved by devising a (mathematically sound) market mechanism that incentivizes the participants to collaborate with each other by coordinating their energy production and consumption. 

In contrast to other energy exchange market schemes, the Hive Power platform takes also into account technical aspects, such as cables, power rating, and voltage limits in order to provide an optimal solution that achieves multiple objectives. 

Hive Power is perfectly designed for the current grid configuration, enabling the electrical grid to operate safely and cost-effectively by ensuring a fair and resilient energy market for all actors involved

Features

Open Platform
Hive Power platform is open to third-party hardware and software manufacturersю

Grid Friendly
The platform design complies with grid constraints on power quality, current limitation and peak shaving.

Robust Market
The market design enhances the cooperation between users, promoting the usage of solar energy and batteries.

Microgrids
Efficient integration of Hive Power platform in microgrids, enables safe operation and optimal asset management.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : HVT
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 19,337 ETH
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :1,645 ETH
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :100,000,000 HVT
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :NA
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :USA,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Company: Will be locked in four smart contracts with proper time locks, each of them locking the 25% of HVT tokens related to Pool D. The founders will be allowed to retrieve their tokens from the time locks, respectively after 6, 12, 18 and 24 months the TGE end.
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Contribution Period — Ended
      12 Jun 08:00 UTC
      30 Jun 08:00 UTC
      0.000411 ETH 10% - 30% - 1,000,000 USD 11,756,993 USD
      Pre-Allocation Period — Ended
      01 Jan 00:00 UTC
      08 Jun 00:00 UTC
      NA No - Uncapped Uncapped
      Contribution Period

      Royal Jelly: 5'000'000 HVT - 30% bonus (1 ETH = 3'161 HVT)

      Honey: 20'000'000 HVT - 10% bonus (1 ETH = 2'675 HVT)

      Propolis: 25'000'000 HVT - 0% bonus (1 ETH = 2'432 HVT)


      Read more about vesting and bonus
      • Team

        • Gianluca Corbellini photo
          Gianluca Corbellini
          CEO / Co-founder
        • Davide Rivola photo
          Davide Rivola
          COO / Co-founder
        • Vasco Medici photo
          Vasco Medici
          Solutions Architect / Co-founder
        • Lorenzo Nespoli photo
          Lorenzo Nespoli
          Research Scientist / Co-founder
        • Davide Strepparava photo
          Davide Strepparava
          ICT & Blockchain / Co-founder
        • Janine Videva photo
          Janine Videva
          Marketing Lead
        • Elisa Battistella photo
          Elisa Battistella
          Social Media Manager
        • Rami Khalil photo
          Rami Khalil
          Off-chain Payment Networks
      • Advisors

        • Walter Steinmann
          Energy business and policy expert
        • Barbara Antonioli Mantegazzini
          Energy Economics
        • Emanuele Cesena
          Cryptography & Security
        • Arthur Gervais
          Blockchain and Off-chain Scalability
        • Marco Merlo
          Electrical Grids
        • Roman Rudel
          Energy Policies
        • Gerardo Lecuona
          Power Electronics Industry
        • Brigitta Kratz
          Legal advisor

      Roadmap

      • Q2 2018
        Hive Power 1.0
        • The Hive will consist of single household Workers and multi-family buildings, coupled to a low voltage grid in Switzerland.
        • The Queen will be operated by the local Distribution System Operator.
      • Q1 2019
        Hive Power 2.0
        • Innovative features such as access to the flexibility market and real time operation will be implemented to improve economic and technical performance.
        • A microgrid testbed will be set up in a developing country.
      • Q1 2020
        Hive Power 3.0
        • The Hive capabilities will be extended through new features, such as investment pools, auto topology discovery, self-healing (fault detection) and multi-owner Hives.

      Activity