- Lou Kraft CEO of SolSuntech Inc. whose company is the first in the world to hold ICO to start production of solar cells
- How Decenturion Accelerator helping ICOs
The relevance of solar energy is constantly growing, because solar energy is environmentally friendly. The second reason for the relevance of the use of solar energy lies in its resource intensity. In just 9 minutes, the Earth receives more energy from the Sun than humanity produces in an entire year. This energy is supplied free of charge and does not affect the environment directly in your apartment. Solar energy is usually understood as the conversion of solar radiation into heat. Solar energy is used to produce hot water and can support heating. Heat can be stored very well and be available for several days. Solar energy conversion systems are used for heating, as well as heated drinking water.
Solar energy is a significant investment in the face of declining oil and gas reserves. Today, solar batteries are installed everywhere in the USA and Europe and are positioned as the technology of the future, which European and American investors are already earning
However, have you ever thought that absolutely anyone can invest in solar energy? Cryptocurrency will help with this. Now for many startups ICO is a very good way to collect investments. During the ICO, the project team sells digital tokens for cryptocurrencies or fiat money to investors. Later, these coins can be used as a local currency on the project platform or traded on exchanges.
One of these startups is SolSuntech Inc, which combines the world of cryptocurrency and the power of solar energy, a revolutionary technology that allows you to achieve 33% efficiency from solar panels, at the moment even existing premium batteries, not capable of delivering such efficiency.
We interviewed Lou Kraft CEO of SolSuntech Inc., their company is the first in the world to hold ICO to start production of solar cells, which have no analogues in the world.
Could you tell us about your project and how you managed to succeed in creating such a unique technology?
Thank you for asking, absolutely! In general, manufacturers of solar cells produce flat lane batteries. Their disadvantage is that their energy efficiency is limited to approximately 15%. There is a higher grade, we call them grade A or grade 1, that is a high efficiency panel. Those produce 21- 22%. Our panel produces 30- 33%. A 50% higher output than grade A class 1. And 100% higher than common panel out there.
The 3D technology we work with is not new, but nobody was able to actually make it work. We were first to invent and use special cutting technology that allowed as to slice silicon in specific way without fractures in it, so the integrity of corrugated cell is not damaged and solid. We have implemented special cutting machines that do not cause the microscopic cracks and fractures. We cut with the specially invented diamond wire. We believe that our product is the only one that exists today and solid enough to put to the manufacturing process and can achieve given 33% efficiency all day long.
You have a great technology that can change the world, but for full-scale production you do need investors. Tell us why you chose ICO instead of IPO?
Since we are high-tech company and we are bringing something totally new for the market. We felt that ICO platform is a little bit more 20:20 playing field for average investors. Typically, anybody can do an IPO but it takes a longer time and costs probably 10 times more than ICO. ICO let’s anybody to participate, when the IPO is affordable only for huge investors. We feel that ICO empowers masses to participate, again it’s being a green project, we care about clean air we want the masses to feel good about this stuff. We really haven’t valued this technology. We want to keep control over the company that why we go ICO. So, we are startup we are new we are green we want masses to participate that why we go ICO round.
You want to go ICO but you have all these difficulties in the USA related to cryptocurrencies, to SEC how are going to deal with this?
ICO markets are not really regulated by SEC, but they can change their opinion. We are ok with regulations, without looking to do anything under the wire as the matter fact as we prepare ICO package We want few companies that will probably fill out and file and get all of these qualifications needed for this to be an official IPO. So that why we as an ICO. We don’t want anybody wondering are we really, are we one of those ICOs that picks all the money and run. So, if we meet that SEC criteria and scrutiny as we file ICO, those will give our investor a piece of mind that they investing that has been approved by SEC standards. We going to accept funds only from accredited investors, we want to stay legitimate.
We’ve heard that you won a competition at Decenturion Accelerator?
We took this as a potential to get some PR for the company. So, we look at the entire program I won over about two weeks ago and competed in that program essentially 42 startups and there was a group of 65 collective investors that would rank the project on its strength, product capability, how close to market, presentation and other criteria.
Right now, Decenturion Accelerator is pushing you with road show, you wonder first price, what that will do for you?
The first ten winners were given three paths to the Asia road show which is coming October 29 to November 11, we will spend a week in Malaysia and the go to Singapore. The bulk of them will be teaching our company how to get individual investors. We feel pretty strong. Our R&Ds are already in Asia. We look really forward to going to Asia and putting our pitch to investors world
Tell us about your token and how can it be used?
The SOL token is an ERC-20 standard-based Ethereum token. The Token offering will begin on June 1 2018 at а closed Pre-sale round for private investors and funds. The Pre-ICO will be opened to the global pubic on November 15th 2018 and closed on December 13th 2018. The ITO round will be opened to the global public on December 14th and closed on January 31 2019.
To facilitate efficiency in the token distribution process, the SOL panel price will be linked to the Manufactured cost of 1 Watt of the SOL Panel nominal power: 1 SOL= $0.55
All registered token holders will have an opportunity to exchange SOL tokens for SOL panels or exchange for x2 their initial investments after the second year of panel manufacturing is complete.
This is really cool. Thank you very much for the interview.
We truly believe that the future is in blockchain and solar energy!