Gigajoule – ICO Detailed Information

The share of the global population that enjoys access to a steady supply of electricity has been gradually increasing over the last couple of decades. Whereas in 1990, only 71% of people around the world were privileged with electricity, by 2016, this index has risen to 87%, which marks significant progress in global electrification.

Problem statement

However, this also means that as many as 13% of the world population still has no means for using this blessing of civilization. The majority of countries that can’t provide their people with access to electricity are situated in Sub-Saharan Africa. The situation is especially dire in countries such as Chad, where only 8.83% of the population can use electricity, or the Central African Republic with 13.99%.

While the governments of these countries seem to be incapable, or unwilling, to resolve this issue, projects like Gigajoule must take the initiative. Gigajoule is a blockchain startup registered in the jurisdiction of Malta that offers a solution to the above-described problem by combining an engineering solution with token economics. In order to put their ideas into motion, Gigajoule initiates the STO of the proprietary digital token GIGJ that was developed on the Ethereum platform.

Supplying Africa with electricity via FPP’s

Gigajoule has set itself the objective of providing the countries of the Sub-Saharan region with the much-needed electricity that would be derived from natural gas, as it has proven to be one of the most immaculate fossil fuels in terms of its ability to leave a low carbon footprint. For this reason, the project chose Nigeria as its primary area of operation due to the fact that this country possesses more than 180 trillion ft3 of established gas reserves.

During the initial stage of project realization, Gigajoule plans to construct and deploy several floating power plants (FFP) in the following three Nigerian regions: Sapele, Onitsha, and Calabar. These locations were chosen because of their proximity to the ocean and large gas deposits, as well as the presence of the necessary transportation infrastructure.

The power plants are going to be constructed in the form of floating platforms with the installed power generation units. The quality of those units is beyond reproach as they will have the Siemens-A65 aero-derivative gas turbines at their core, which were recognized as the top of their class thanks to the utilization of parts from the Rolls Royce Trent aircraft engines. These state-of-the-art installations are projected to produce 3,818 billion kWh per year. 

The GIGJ tokens will grant their holders the right to receive profit shares in the amount of 15% of the after-tax profits, determined by the external auditors.

The Gigajoule team

• David Gardner. Founder and Senior Engineer. An experienced engineer who specializes in constructing power plants and developing eco-friendly technologies. 
• Warren Schwartz. Founder and Software Engineer. Schwartz has more than 20 years of experience in software engineering; he also participated in numerous blockchain projects.

The STO details

Gigajoule is currently carrying out a presale of 3 million GIGJ at a price of $0.7 per token, which includes a 30% discount to the full value of GIGJ - $1. This event will be followed by three rounds of STO, the first of which will begin on January 1, 2020. At that time, GIGJ will be priced at $0.8, with the price going up by 5 cents with every new round of STO. The tokens can be purchased with BTC, ETH, and 50 other cryptocurrencies, the full list of which will be provided to investors upon passing KYC.

Author: Alex Paulson for Crypto-Rating.com