Electrify.Asia (ELEC) Review – Electrify.Asia ICO Ratings and Details

Building an intelligent energy ecosystem. Electrify is the first retail electricity marketplace in Southeast-Asia addressing the need for transparency and security in the consumption of energy.


Token type:

ICO Token Price:
1 ELEC = 0.0800 USD

Fundraising Goal:
30,000,000 USD

Total Tokens:

Available for Token Sale:

What is Electrify.Asia?

Within the continent of Asia, there are several nations that are still developing and are beginning to see their need for electricity grow. They are trying to increase living standards, which means more consumption of electricity and energy in general. As the demand for energy increases, so does the need for affordable, effective energy security, which is where Electrify.Asia comes in.

The platform is designed to decentralize the energy industry using blockchain technology to offer more transparency and potentially lower prices. This will help to address certain problem areas within the current set-up, such as a lack of transparency, an inability to filter out consumers with poor credit history, and removing the barriers to clean energy by enabling a peer-to-peer trading platform.

According to the roadmap through the platforms whitepaper, it was launched in March 2024, and the whitelist period began in January of 2024. The token sale is set to take place in February, with the Beta launch scheduled for the third quarter of 2024. The synergy and PowerPod are scheduled to be launched in the fourth quarter.

How Does Electrify.Asia Work?

The platform demonstrates how it would work and the potential benefits of its approach through an image on their site. Currently, energy is controlled in a closed marketplace that only allows users access through retail electricity contracts. These contracts do not leave room for negotiation on the part of the consumer.

Electrify.Asia would develop an ecosystem in which they would allow for P2P energy trading and would replace retail contracts with smart contracts. The ecosystem will be named Marketplace 2.0 and it will function as a platform form both web and mobile, allowing users to purchase energy from retailers or peers. Consumers would also be able to buy energy from small producers, such as wind turbines or rooftop solar panels.

The platform would utilize an e-wallet and PowerPod, as well. The e-wallet could be used to process payments from the smart contracts and allow consumers to pay for their energy usage via the ecosystem. The PowerPod is there is provide accurate tracking and auditing and will log all energy produced onto the blockchain.

Features and Benefits of Electrify.Asia

The site does not get into specific features regarding how the platform will function, but it does convey the overall message of potential peer to peer energy sharing and purchasing as a way of breaking the monopoly that many energy companies currently hold. This allows individuals or smaller energy producers to get rewarded and is a more efficient way of sharing energy.

This decentralized approach will potentially allow for faster development within countries in Asia that are still developing but are struggling to afford or produce the amount of energy that is needed. The platform can also help make a push to using more environmentally friendly energy producers, such as solar power and wind turbines.

The Electrify.Asia Token Sale

The token sale for Electrify.Asia is set to begin on February 23rd, 2024 and run through March 1st. Unfortunately, potential investors from the United States are not allowed to participate in the sale. The Electrify.Asia token will be known ad ELEC and will be distributed as ERC20. The total amount of tokens being created is 750,000,000 with half of them being made available for the token sale

The fundraising goal for the sale is set at $30 million and it does not look like there have been any pre-sale efforts thus far. ETH is the only currency that is accepted during the sale, and 0.5 ETH is the minimum contribution amount, with a maximum amount to be named later. 1 ELEC is equivalent to $0.08

The intended use of the funds raised by the token sale is broken down by a graph provided on the company site. It states the 54% of the money will go to development, research, and technology, while 20% is dedicated to staffing. 11% will go to operations, 10% to legal and accounting, and the last 10% to business development and partnerships. Also included is a breakdown of how the tokens are going to be distributed, with 50% being included in the token sale, 19.4% to the team, 11.9% to the advisors, 14.6% to the treasury and community development, and 4.1% to be airdropped to the community.

Who’s Behind Electrify.Asia?

The platform website identifies a handful of key positions within the company, beginning with Julius Tan, the CEO. Tan is also a co-founder of the company and has a history of working with Senseap Energy and the Solar Energy Research Institute of Singapore.

He was educated at the University of Cambridge where he received an MA in Mechanical Engineering. The COO and fellow co-founder is Martin Lim who has also worked for Sunseap Energy as a business development consultant.

The operations lead is Alexia Lee, who previously worked as a business development executive with Seastarr Trading and received a BA in Economics for Nanyang Technological University. In total there are eight team members, all of which are identified through the company site with links to their LinkedIn profiles included.

On the board there are six total advisors with some impressive backgrounds. Included among the board is Jun Hasegawa who is the founder and CEO of Omise. Also, there is Shirley Wong who is a managing partner at TNF Ventures. The remaining members include multiple doctors, a software engineer, and legal advisor.


Overall, we believe that the team behind Electify.Asia is impressive and solid, and their vision is appealing. This would be a long-term investment as a user as introducing a platform such as this all the way across Asia take a significant amount of time. Another concern is that may energy markets within Asia are highly regulated and lack some necessary infrastructure, particularly the targets of Electrify.Asia, such as Thailand, Malaysia, and Indonesia. This could mean a long waiting period for investors.

That said, the platform remains appealing because it has become clear that the amount of money spent on energy within Asia is significantly on the rise and alternatives, such as Electrify.Asia, that can potentially make energy usage more affordable and simple will certainly catch the attention of many potential investors.

Though the cap for the token sale is set at $30 million, that seems to underestimate how much money would truly be needed to establish Electrify. Asia. The platform is largely focused on developing nations, but the real profit would lie in penetrating developed countries like Japan and China. The process will be long but Electrify.Asia is an ICO to keep an eye on.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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