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#Blockchain, #Cleantech All projects

VLUX: The Evolution of Energy

Creating VLUX Tokens For Verv's End-To-End Renewable Energy Trading Solution

stage Ended crowdsale

KPLs

  • Employees34

Team

30
man Peter Davies

CEO

A serial entrepreneur with an engineering background and a degree in computers, electronics and communications engineering. Peter was the founder of Austin Consultants, the UK’s highest certified LabVIEW Consultancy specialising in automated measurement, analysis and control systems for the likes of Rolls-Royce and Mercedes Benz F1. Peter won Innovator of the Year at the 2016 Business Green Technology Awards.

man Maria McKavanagh

COO

Most recently nominated by Computer Weekly as one of the top 50 Most Influential Women in Tech, Maria was formerly a Field Sales Engineer at National Instruments and holds an MEng degree in Electronic Systems Engineering.

man Conrad Spiteri

CTO

Conrad has spent 15 years perfecting the tech product development process and carries an impressive portfolio of products and patents, believed to have reached a user base in the millions (physical unit sales and app downloads). He has a Masters‘ in Robotics, and is finalising his PhD in Planetary Robotic Vision Processing for Terrain Assessment and a degree in Industrial
Electronics. Prior to Verv, Conrad was the Technical Director at Y-CAM Solutions.

man Michael Jary

Managing Director

Michael has over 10 years of experience in the energy sector, and was the former Director of Connected Homes at SSE.
He holds an MBA from Warwick Business School.

man Steve Foster

CFO

Steve has over 20 years’ experience in senior financial roles, mainly in the energy sector. He has worked for E.On UK, the private-equity backed business Welsh Power Group and from 2011 to 2017 was the Finance Director of the B2B energy supply business Opus Energy Ltd.

Bruce Pon

Founder / CEO at BigchainDB, Founder of Ocean Protocol

Thomas Clarke

Team Lead Blockchain

Jon Dennis

Head of Machine Learning - Disaggregation

Alexander Nicholson

Head of Investment

Rebecca Haworth

Communications Manager

Niki Davies

Marketing Manager

Jeffrey Elliot

Crypto Specialist Community Manager

Adam Makhfoudi

iOS Developer

Kingsley Gomes

Android Developer

Imtiaz Chowdhury

Technology Manager

William Martin

Data Scientist

Konstantin Dimitrov

Innovations Engineer

Cong Zhang

Blockchain Data Engineer

Aistis Stankevicius

Data Scientist

Irina Timoshenko

Data Scientist

Edward Burnell

Data Scientist

James Davis

Head of UX

Alex Mcintosh

Front End Team Lead


Advisors

4
man James Cameron

Chairman

James has been Chairman of the Overseas Development Institute; a member of General Electrics’s (GE) Ecomagination board, and Chairman of Agrica; GSCM; and ETIndex. Previously he co-founded and chaired Climate Change Capital (CCC), which became a thriving merchant banking and investment business employing 150 people with $1.5 billion under management. He was a member of the UK Prime Minister’s Business Advisory Group during the coalition government and named Leader of the Year at the 2013 BusinessGreen Leader awards.

man Ewald Hesse

Ewald Hesse leads the Grid Singularity venture. He has extensive experience in the energy sector and acute interest in distributed business models. He served as regional director at Andritz Hydro and is the Vice President of the Energy Web Foundation.

man Francis Griffiths

Director

Francis is VP of Sales and Marketing Worldwide at National Instruments, a multinational company with global operations and revenues in excess of $1.2bn. He is responsible for global sales, support, marketing and business operations for the Americas, Europe and Asia-PAC. He is also a Board Member at Cardiff University.

man Professor David Shipworth

Professor at UCL Energy Institute.

Professor of Energy and the Built Environment at UCL Energy institute, works falls into two related areas: Demand side management and occupant thermal comfort in buildings.




Crowdsale details

Distribution of tokens
  • Crowdsale (70%)
  • Company (20%)
  • Reserved (10%)
Budget allocation
  • Engineering, Software, R&D (47%)
  • Legal Costs (8%)
  • Subsidised VHHs (10%)
  • User Acquisition & Customer Education (21%)
  • Contingency (5%)
  • Ongoing Operations & Admin (9%)
Details Indicators
Token Symbol VLUX
Full Token Name VLUX token
Pre-crowdsale Start April 4th, 00:00 GMT+03:00
Pre-crowdsale End Hard cap is reached or May 28th, 00:00 GMT+03:00
Pre-crowdsale Hard Cap Fixed, $23800000
Crowdsale Start May 28th, 00:00 GMT+03:00
Crowdsale End Hard cap is reached or July 4th, 00:00 GMT+03:00
Crowdsale Hard Cap Fixed, $34000000
Token type utility token
Domain owner Individual

Cost of the token

1 token for 0.68 $

Price without discounts

Bonuses

Crowdsale
Bonus Dates Minimum purchase amount
5% May 28 — 28, 2018
2% May 29 — 29, 2018

Accepted currency

  • Ethereum


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FAQ

Frequently Asked Questions

What is VLUX?

VLUX is a subsidiary of Green Running which operates under the trading name of Verv. VLUX is launching an Initial Token Offering (ITO) in order to create VLUX (VLX) tokens that will enable energy to be traded on the renewable energy trading platform that Verv has developed. By combining deep learning AI technology with blockchain, Verv’s peer-to-peer (p2p) energy trading platform aims to improve access to affordable, low carbon energy.

What is Verv?

Verv is the brand that Green Running has operated under following the development of the Verv home hub in 2015. The Verv home hub attaches to your electricity meter and uses specialised artificial intelligence technology to identify key appliances in your home by their unique energy signatures and tells you how much each one is costing you to use, in real-time. The longer you have Verv, the more advanced it becomes, using machine learning to learn about new appliances and their behaviours, unlocking more and more features such as alerts if you’ve left an appliance turned on for too long.

Is VLUX a utility token or a security token?

We have discussed this extensively with our lawyers and are happy to clarify that VLUX is a utility token, although this does not preclude the possibility of VLUX being considered to be something other than a utility token by any regulatory authority in any jurisdiction.

What problems do VLUX and the Verv Energy Trading Platform solve?

Currently, big energy firms control the majority of the market, and greenhouse gas emissions from the energy sector represent ⅔ of anthropogenic greenhouse gas emissions. CO2 emissions from these sectors have risen over the past century to ever higher levels. In addition, energy bills in the UK for example are rising at the fastest rate since early 2014. Meanwhile, more and more individuals are buying their own energy generating units - like solar panels, that are capable of producing far more energy than they need as individuals. The aim of the Verv Energy Trading Platform is to enable consumers to sell any excess energy they generate directly to their neighbours at an affordable cost and therefore allow consumers who produce their own green energy to transform into true ‘prosumers’, improving access to low carbon power and reducing transmission costs. The Verv home hub, which can obtain a comprehensive and real-time overview of the electricity consumption of a home, forms the basis of the energy trading framework. Combined with blockchain technology, the aim is to provide a secure and transparent ledger through which prosumers can sell energy to their peers, not only resulting in revenue for themselves, but saving peers money on their bills, too.

How long will it take to process a transaction on the VTP?

It depends on the number of people assigned to each community blockchain. Normally counterparties shouldl be able to complete a trade within 13 seconds.

What type of token is VLUX?

The VLUX token (VLX) is an ERC20 token and we look forward to updating you in the full whitepaper we launch on how this token leverages high speed sampling of electricity and AI to interact with the blockchain platform we’ve developed and create an efficient peer-to-peer energy trading framework.

What are VLUX tokens used for?

Our aim is to enable VLUX (VLX) token holders to become hosts on the Verv P2P energy trading platform we are developing, creating a community of prosumers and consumers able to trade with each other. VLUX tokens may also be given as rewards for developing Verv’s Energy Trading Platform capabilities and may be able to be redeemed for goods and services!

Is there a discount or a bonus during the VLUX token sale?

In the main sale, there will be a 5% bonus on day 1 (May 28th 2018) and 2.5% on day 2 (May 29th 2018).

Which cryptocurrencies are accepted during the token sale?

Ethereum (ETH)

Which wallets can be used to store VLUX?

ERC20 compatible wallets. Please note, when you participate in our sale, you are not able to do so directly from an exchange.

What are the ERC20 compatible wallets?

Metamask, Myetherwallet, Trezor, Ledger nano S and many more. Be careful to ensure that wherever you wish to store your tokens, you can contribute directly from.

How can I purchase the VLUX token?

Via the Token sale on the 28th May 2018. You can find out more on our website, and when our full white paper is ready for circulation.

How will the tokens be distributed during the token sale?

During the token sale event 70% of the total supply of VLUX tokens will be distributed to the public, 10% will be reserved for distribution among the first 200,000 VHH units sold, and 20% of the tokens will be kept by the company. Of the 20% of tokens kept by the company, 10% will be kept for the Verv float and original contributors, and 10% will be reserved for future growth. All tokens sold will be locked and cannot be traded until the launch of the VTP, currently scheduled for end of 2018.

Where can I find the roadmap?

You can find the official roadmap here on our homepage: https://vlux.io. More information will follow in our white paper.

Are you conducting AML/KYC?

Yes, as we are running the sale in a professional, ethical, and regulatory compliant fashion, we are requiring all contributors to go through AML/KYC. All pre-sale and whitelist contributors will have to go through this. The AML/KYC process for whitelist registrants will not occur until nearer the sale - for now, simply sign up and stay up to date!

Why do you require a KYC process?

We need to know who our customers are for AML (anti-money laundering laws). Moreover, we want to run a professional, ethical and regulatory compliant token issuance. We have no desire to circumnavigate rules or regulations - it only brings future risk to our participants.

Who can participate in the ITO Pre-sale?

Verv is still considering where the offer will be made and where it will not, based on the laws and regulations of different countries - please get in touch with us via the contact form if you are interested in participating. The ITO pre-sale will definitely not be offered in China, due to its laws and regulations relating to ITOs.

Who can participate in the ITO mainsale?

Individuals who are not located in a restricted jurisdiction, who are on the whitelist and who have passed the AML/KYC checks can participate in the ITO mainsale. Verv is still considering which jurisdictions will be restricted for the purpose of the ITO mainsale, but they are expected to be those where the ITO mainsale might constitute a violation of the relevant laws or regulations of that jurisdiction or would result in a requirement on VLUX to obtain any consent or comply with any formality which Verv regards as unduly onerous.

Is there any way to check if I am on the whitelist?

You will receive an email from VLUX to confirm that you have successfully registered for the whitelist.

How do I submit my KYC documentation?

Initially, sign up to the whitelist. At the appropriate time we will request further information and documents from you.

What is the hardcap on the token sale?

The hardcap on the token sale is £25 million.

What is the hardcap on the pre-sale?

The hardcap on the pre-sale is £17.5 million.

How will the token sale funds be used?

You will soon be able to see our full white paper and find the information there - but in brief, the funds raised in the ITO will go to research and development of the Verv energy trading platform, continued development of the technology, customer education and anything we can do to reduce consumer energy bills.

How can I keep up to date with the project?

Subscribe to the whitelist and stay involved via Telegram, here!

What is the date of the public token sale?

The public token sale will begin on the 4th of July 2018 - Energy Independence Day

Is there a minimum contribution to participate in the public token sale?

No. If you are able to contribute, we want you to be part of this journey. In practice, very small amounts are unwise due to transaction fees.

Can I change my ETH address after whitelist registration?

We would simply recommend that you re-register to the whitelist with your new wallet address. AML and KYC will be required in the coming weeks, and every unique individual will only be allowed to contribute from a single wallet address.

Can I submit to the whitelist multiple times?

Whilst you are able to submit to the whitelist multiple times, as we will be running AML/KYC, we will be able to identify unique individuals, and will only be allowing individuals to contribute once in the main sale. This is about ensuring the widest, fairest distribution of tokens in the main sale.

When was VLUX founded?

Green Running, the parent company of VLUX, was founded in 2010 with the initial focus of reducing energy consumption within the commercial market. When Peter Davies, CEO & Founder, realised the potential to make homes smarter and more efficient in the domestic space, he developed the Verv home hub and then in July 2017 a patent was filed for Verv’s blockchain-based p2p energy trading system. We forecast energy to be physically traded between peers for the first time in the UK using Blockchain via the Verv energy trading platform (VTP).

Why was VLUX created as a subsidiary of Green Running (Verv)?

As VLUX has a different business purpose to Green Running (Verv), it made more sense for it to be a separate legal entity.

How are VLUX, Verv, and Green Running related?

VLUX is a wholly owned subsidiary of Green Running, which now operates under the trading name of Verv since the development of the Verv home hub and energy trading platform. We are proud to be introducing the VLUX token to all of you!

Do you have a bounty campaign?

No, we aren’t running a bounty campaign alongside our ITO.


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