Gigajoule ICO Floating Solutions review

gigajoule-ico

Floating Power Plants. Gigajoule ICO rating – 75

ICO Gigajoule Visit Gigajoule ICO site

PRE ICO Dates : 01/11/19 – 31/12/19
Upcoming ICO : 01/01/20 – 30/04/20

ICO rating
Business: 17/20 Product: 2/5 WP: 10/10 
Roadmap: 8/10 Legal: 4/5 ICO terms: 3/5 
Team: 16/20 Token applying: 3/5 Promotion: 12/20 
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About Gigajoule ICO (token sale)

Gigajoule ICO Floating Solutions is an electricity generation company. It creates fully operational, gas-based power plants, floating on barges. It uses proven technologies together with Internet of Things (IoT) and blockchain technologies to ensure the highest standards of quality and efficiency. This takes a fraction of the time required for traditional land-based plants, yet rivals or surpasses them in efficiency, reliability and cost.

What problem do we solve?

Today, it is estimated that up to 2 billion people worldwide do not have access to electrical power, a figure that is increasing year after year. This problem is more acute in countries like Nigeria, where only 45% of the population has electricity, and those who have it do so at a high economic and environmental cost, mainly due to the widespread use of diesel and petrol for operating small generators.

How do we solve it?

Gigajoule ICO will deploy their Floating Power Plants (FPP) in 3 different Nigerian locations close to existing gas supply and transmission infrastructure in Delta, Anambra & Cross River States.
Each of the 3 projects will supply electricity to the Nigerian Government for a renewable term of 20 years, within the framework of the Nigeria Electricity Regulatory Commission.
A Partial Risk Guarantee, provided by MIGA of the World Bank, ensures the obligations of the Federal Government to pay for installed and utilized capacity throughout the lifespan of the Power Purchase Agreement (PPA).
Finally, production capacity is underwritten by Siemens for the life of the project

Financial projections
Projections of revenues for a single project show a very stable income throughout the 20 year period of the Power Purchase Agreement (PPA), with approximately $368 million per year. Net profits are expected to increase towards the second half of the PPA’s duration.

Security Token Offering (STO)
To cover the implementation costs of Gigajoule projects, a STOshall be conducted in 2019 Q4, with a fundraising hard cap of US$ 14.4 million.
Investors in the Gigajoule ICO token (GIGJ), shall have a right to receive 15% of annual dividends, in proportion to the number of GIGJ they hold.

ICO TOKEN CLASSIFICATION
As previously mentioned, the GIGJ token will be structured as a security token. Polymath is the platform on which the GIGJ Token will be issued. Several jurisdictions around the world have provided digital asset classifications. Token generation events like ICOs, IEOs or STOs are regulated as “VFA Offerings” (VFA = virtual financial asset).

VFA are classified into three categories:
– Electronic money
– Financial instruments
– Virtual tokens

Virtual tokens are defined as “a form of digital medium recordation whose utility, value or application is restricted solely to the acquisition of goods or services, either solely within the DLT platform on or in relation to which it was issued or within a limited network of DLT platforms”, a definition that clearly resembles the concept of a “utility” token.

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