Frequently asked questions
- What is FUERGY? FUERGY is creating an entirely new, decentralized way of generating and sharing electric energy. Through its genuine hardware device (with built-in battery), AI-powered software called “brAIn” and blockchain technology, customer’s energy consumption can be automatically optimized and system deviations minimized. In addition, the hardware will be able to connect to an electric vehicle to reach the full potential of its battery capacity.
What problem does FUERGY solve?
In order to help to reduce the impacts of global warming, we need to start using resources which are available, renewable and whose potential is undervalued, such as solar or wind power. However, due to inconsistency in energy generation, their production peaks are usually not meeting the demand peaks.
FUERGY is coming up with solutions that will decentralize the production and distribution of electricity to the local level. In this way, electricity will be consumed as close as possible to its source, and its production and consumption will be balanced, well-timed, and most importantly, with respect to the environment. Decentralization seems to be the answer to the growing demand for electricity without having to invest billions in centralized power production which accelerates climate change.
- What is the product? FUERGY has developed its own sophisticated, AI-powered software called brAIn which is paired with highly scalable hardware device. This unique solution aims to help the FUERGY community members to optimize their energy consumption, reach the full potential of their renewable energy systems and participate in the energy market. We strongly believe that utilizing blockchain the way it was originated (as a Distributed Ledger Technology – the “DLT”), and smart contracts, the produced energy can be shared in the smartest and the most cost-effective manner.
- Are there any product versions? FUERGY offers an opportunity to create renewable energy through a portfolio of products and services that enable more cost-effective energy generation and reduced energy consumption: FUERGY Business, FUERGY Home, FUERGY Lite.
- What is your business model? FUERGY Industries j.s.a. will generate revenue by selling FUERGY Devices - FUERGY Business, FUERGY Home, FUERGY Lite. Additional revenue is obtained by charging a fee out of each transaction or by share of electric energy saving (according to the market) made in the New Energy Ecosystem.
- Why do you need to use blockchain? Blockchain will serve in the transaction layer of the New Energy Ecosystem which is using it to conduct trustful, transparent and secure trading between nodes in a large and constantly growing network of FUERGY Users.
- What blockchain is FUERGY using? We are currently in the testing phase and more detailed information will be available later on. To keep our values we will use Proof-of-Stake (PoS) or Delegated Proof-of-Stake (DPoS) consensus blockchain that uses only negligible amounts of electrical power compared to Proof-of-Work (PoW) blockchain platforms.
- Who can join the New Energy Ecosystem? Is it necessary to build a new power grid? The New Energy Ecosystem is a network of FUERGY Users and their devices connected through the automatic AI-powered energy sharing platform. Any entity connected to the existing power grid can become a member of the Ecosystem. There is no need to build any new physical connections (e.g. cables) because FUERGY uses an existing power grid. Every energy prosumer (a person who consumes and produces energy) is a potential FUERGY's customer.
- What are benefits of the New Energy Ecosystem for its customers and how does it affect utilities? New Energy Ecosystem members will have a stable energy supply with higher power quality, and potentially a lower price. They can also increase the ROI of their green energy sources by selling the produced energy. On the other hand, utility companies can benefit from added flexibility, congestion relief, and increased power quality, as well as providing network support in times of stress by aiding restoration after faults.
- Is FUERGY only a peer-to-peer energy trading platform? No. SaaS/P2P Trading Platforms are not efficient enough due to the reverse nature of the data they work with, and the impossibility of interfering with the customer's energy behaviour. In comparison with other P2P solutions FUERGY offers: AI-powered management of resources and appliances, built-in uninterruptible power supply (UPS) function, real-time data analysis for energy optimization, greater return on investment and automatic blockchain-powered energy marketplace.
- Are you aware of any legal barriers that can restrict the installation and usage of FUERGY Device? Our solution is designed to operate on existing distribution grids within all deregulated and most regulated markets around the world.
- Is FUERGY platform secure? Yes, all communications between the individual FUERGY Devices are safe. It is protected on the communication protocol level by one-way communication, data integrity control and usage of secure technologies.
- I have a renewable energy source, can I use your product? Yes. FUERGY Solution can bring greater financial returns to your already installed renewable energy source and lower your electricity bill.