Restart Energy works as an independent electricity and gas supply firm. The company has created its first energy retail franchise and seeks to develop a global decentralized electrical energy supply platform and ecosystem, Restart Energy Democracy (RED). The company intends to facilitate people in getting rid of bureaucracy, old-fashioned and complex methods to measure and report energy consumption while letting users pay less.

Energy suppliers provide invoices that are difficult to understand and do not treat the customers well. It is also hard to estimate the cost at the end of the month. Thus, the company seeks to provide cheap and green energy, wireless meter reading, an option for real-time consumption display on user’s phone, and no involvement of bureaucracy.

The company’s ecosystem uses blockchain protocol that helps in democratizing the energy sector, burdened by bureaucracy and transaction costs. The firm’s ecosystem seeks to free up capital, save consumers money, help small local producers earn more, and allow real peer-to-peer direct energy trading. 

So, the RED platform seeks to function as a decentralized energy trading platform facilitating energy consumers and producers to send and receive energy globally. Besides this, the tokenized energy traded on the platform can be physically delivered at local rates in countries with deregulated energy markets, where the firm is present directly or has its franchises.

The MegaWatt token, abbreviated as MWAT, is the company’s native cryptocurrency. MWAT is an ERC20 utility token that aims to enable users to access the RED Platform Software and the RED Franchise. The token seeks to allow the trade of up to one MWh of energy per month; thus, the coins are the first to be backed by real opportunity.

Restart Energy has been in the renewable energy market since 2009 as a part of the Armand Group.