The joint-venture also plans to launch in the USA the Restart Energy Democracy (RED) platform – an online energy trading platform based on blockchain technology that allows peer to peer transfers between energy producers and final consumers. The RED Platform was launched in 2019 in Romania.
Restart Energy, owned by Armand Domuta, plans to acquire and develop renewable energy projects totaling 500 MW by the end of 2025. The projects will require investments of approximately $100 million a year. Interlink will act as strategic advisor fro the financing of these investments.
“This partnership will provide access to US capital and accelerate Restart Energy’s goal of providing 1 billion KWh per year of clean and affordable renewable energy for 300,000 consumers in Romania and Europe by 2025. This will allow Restart Energy to help reduce the carbon footprint with 750 million kg of CO2 per year and at the same time to become the first fully sustainable energy supplier in Romania delivering 100% locally produced green energy to its customers until 2025. It will also allow Restart Energy to enter the US market with its innovative blockchain platform, where we will have access to a mature and technology-oriented market,” said Domuta, CEO and founder of Restart Energy.
Founded in 2015 in Timisoara, Restart Energy had approximately 30,000 household consumers and 5,000 corporate consumers in Romania.
“Restart Energy is an innovative company at the forefront of combining renewable energy supply and marketing through technology, vision and purpose, making renewable energy more available and accessible to all. What attracted us to this partnership is not only RED – a proven platform based on blockchain technology – but the entrepreneurs and their purpose-driven vision of improving access and proliferation of renewable energy, which is compatible with Interlink’s mission. In parallel, the investment in the Restart Energy’s plans in Europe will allow us to develop additional renewable energy assets, especially since Restart is already active in Romanian and Serbian markets with intention to expand this year in Germany and Spain,” said Alan Beard, managing director of Interlink.
The partnership will be operated through Restart Energy Innovative Technologies AG (REIT AG), a Swiss-based holding company part of Restart Energy group of companies.