What Is Solareum?
Solareum is a recently-launched company that utilizes blockchain technology to assist with the use and purchase of renewable resources. Essentially, it wasn’t to make it easier for both individuals and corporations to buy and sell renewable resources, with an overall goal of becoming the “Amazon of Renewables,” as it states on the company’s website.
According to a roadmap on the company’s website, Solareum got started in October 2017 when it started to connect with the solar market using blockchain technology. A couple months later the company announced a private sale that took place from January 11 to January 18. In March 2018, Solareum began developing a marketplace app, and as of April 2018, the company is beta testing the Solareum web application, which is expected to launch in May 2018.
Who Is Behind Solareum?
A man named Kenneth Reece is the Chairman and CEO of Solareum. He is a graduate of DeVry University and has some work experience in the field of marketing. According to his LinkedIn page, he is also the co-founder and director of a company called America Green Solar, a company that sells and installs solar panels. The company strives to “make America green again” and has a link to Solareum on its website.
The Solareum website lists a man named Justin Lally as the CMO of the company. Aside from him and Reece, everyone listed on the “Team” page of the Solareum is an advisor who also works for a different company. Solareum’s advisors come from the following companies:
- Starion Energy
- Financial Freedom
How Solareum Energy Paying Crypto Marketplace Works
It’s difficult to say how Solareum plans to operate its business. There is little information available on the company’s website aside from a short video that uses a lot of buzz words and provides little substance. Somehow, Solareum plans to help businesses make their renewable energy products available while helping customers shop fur such products with the hope of bringing prices down so that such products are more accessible. Solareum sums up its goals with the phrase “You don’t pay energy; energy pays you.”
Solareum SLRM Token ICO Details
The only thing we can say for sure is that the company has its own cryptocurrency called the Solareum coin. The company has made 60 million coins available, with 45 million available on the open market. Another 1.1 million coins were released in a private sale. There is also a market cap of 42.2 million coins, a number that honors Earth Day, which is April 22. The cost of one Solareum coin is $0.70. There is a minimum purchase of 500 coins and over a dozen different forms of payment accepted.
Aside from Solareum coins, the company’s website also sells two other products. One is a solar heating system at a cost of $9,999. The other is a solar energy system. For this product, the price ranges from $17,500 to $27,000 depending on whether you want a 5kW system, 7kW system, or 10kW system.
Is Solareum Right For You?
If you have a genuine interest in green technology and renewable resources, Solareum may be right for you. The best we can tell, the company wants to be a facilitator for both individuals and companies finding ways to go green, most notably with solar panels. However, their methods and practices are unclear, so buying Solareum coins or getting involved with the business at this point should be solely for those with a genuine interest and passion for the environment and green technology.
There’s no doubt that green technology like solar panels is on the rise. In this sense, there may be plenty of potential benefits with Solareum. If they succeed in using blockchain technology to bring consumers renewable resources at affordable prices, buying into their cryptocurrency may turn out to be a good choice. However, so little is known about the company, making it a risky venture. Moreover, there is more and more competition when it comes to green technology, and it remains to be seen whether Solareum will be able to stand out in that marketplace.