Solar DAO Announces ICO Campaign to Support PV Solar Plant Construction
Energy-focused blockchain investment fund, Solar DAO has announced the dates for its two-stage ICO crowdfunding campaign. Both the Pre-ICO and ICO will raise funds which the company will invest into constructing a new PV solar plant. The preliminary ICO will take place between the 27th of July 2017 and the 31st of August 2017. It will be followed by the core ICO, scheduled to start by the end of October 2017. There will be a total available supply of 80,000,000 Solar DAO (SDAO) tokens, with an initial token price of $1.00 per token, with both ICOs benefitting from early bird bonuses.
Solar DAO is a closed-end investment fund built on Ethereum blockchain. SDAO tokens are executed by Ethereum smart contracts for increased transparency and security. Any undistributed tokens will be eliminated through smart contracts, and any release of additional tokens is closed out at this stage.
ICO participants will receive tokens in exchange for their investment which entitles them to Solar DAO shares and grants them access to 100% of profits from all solar plants across the globe. The profits will consequently be distributed quarterly in ETH to tokens holders’ wallets.
The project was established in 2012, and the development team has worked in the solar energy market since 1991. The team behind Solar DAO has already implemented 70 MW PV plants across Europe, developed 270 MW plants in Russia and 150 MW plants in Kazakhstan. They have also implemented four production facilities for PV cells and modules in Russia, Spain, Germany and South Africa.
Solar DAO team is currently helping its clients invest in PV solar plants across the globe through UNISOLEX, a Russian entity. The platform has attracted multi-million investors in different regions. These solar plants sell electricity to the central grid with special tariffs implemented for up to 25 years and continue to sell for an average market price after expiry.
The PV solar plants will be refinanced to construct new plants and subsequently increase the total installed power capacity of plants run by Solar DAO. When the ICO finishes, major investors will be targeted to buy existing tokens from ICO participants. Solar DAO also aims to payback tokens and sell them to major investors.