Wegen Power

Wegen Power

PhilippinesMakati City, Philippines
Organization type: 
for profit
Project Stage:
Start-Up
Budget: 
$10,000 - $50,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

Driven by the cause to improve lives and make impact to the society. Wegen will provide clean and more affordable electricity using a new design of wind turbine- a technology that won an International competition and made interest to multinational company.

About Project

Problem: What problem is this project trying to address?

There are 15M Filipinos, joining 170 M people in East Asia Pacific living in poverty, without access to electricity. Philippines being archipelagic country composing of 7,107 islands, the grid cannot penetrate this islands due to the cost of transmission line. Their only options comes from a candle or diesel generator which is very expensive.Also, did you know that despite Philippines growing economy, we ranked 3rd globally in high cost of power.

Solution: What is the proposed solution? Please be specific!

We are bringing to the Filipino market a new proprietary wind turbine technology that will make the electricity more affordable and more reliable to the Filipino in every islands of the Philippines. In a way that nobody was ever done before. According to Bill Gates, if we could pick one thing to lower the price off and reduce poverty, by far we would pick energy. This means that if we are able to bring down the price of electricity and provide power to the community, we will generate rippling effect to increase sustainability and empower the future of the people being served.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Last October 2013, we had our pilot and beta testing of one Wegen Wind Turbine to provide lightning to a small family to a province of Sorsogon in Philippines. Prior to the installation, the place has no adequate outdoor lighting where people walk barely during night. Now, the electricity produce by the wind turbine provides lightning and attraction for pass by villagers. Wegen is able to provide power lightning in the pilot stage.
Sustainability

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

We do have formidable competitors in the Philippines such as solar panels, electric cooperatives and diesel generator set, but aside from being a green technology, our competitive advantage lies in the levelized cost of electricity. We are 50% cheaper than solar panels and electric cooperatives and 30% cheaper than diesel generator set. We will also do the installations, engineering, and after sales services to ensure customer satisfaction.
About You
Organization:
Wegentech Inc
About You
First Name

Karl Ivan

Last Name

Estadola

About Your Project
Organization Name

Wegentech Inc

Organization Country

, XX, Makati City

Country where this project is creating social impact
How long has your organization been operating?

Less than a year

The information you provide here will be used to fill in any parts of your profile that have been left blank, such as interests, organization information, and website. No contact information will be made public. Please uncheck here if you do not want this to happen..

Your Solution
Founding Story: Share a story about the “Aha!” moment that led you to get started and/or to see the potential for this to succeed.

It started last year when I tried to look for sponsors to develop our Project Thesis (Wegen Wind Turbine) and presented this to GE. The technology gained interest, and I said to myself that this can replace every wind turbine in the planet. With addition to high cost of power in our country and thousands of islands where the grid cannot penetrate, this is a big opportunity to install Wegen Wind Turbine to every islands in our country. Islands like Panay, Palawan, etc, have the most expensive electricity rate, yet has the most wind resource.

Select Sector(s): To which of Unilever's categories of sustainability does your solution apply?

Sanitation and Hygiene, Nutrition, Water, Greenhouse Gases, Sustainable Agriculture.

Measurable Impact
Audience: Who have you identified as your customers/recipients and why? How will you get your solution to them or engage them in your initiative?

We have a vast market opportunity that we can bank on in the Philippines and across the globe. By focusing only in islands in our country, we have 1038 sites or equivalent to 7GW of wind potential, enough to supply the energy demand. Islands has the most wind resource, yet has the most expensive electricity rate at 60$ cent/kwh. Through direct sales, we will target local governments because they have the capacity to raise funds and commercial establishment where we can provide big savings.

Impact: What is the impact of the work to date and expected impact in the future?

2012:
Project Thesis- Proof of Concept
Gained Interest from GE
UAF ARCTIC Innovative Competition Top 20
2013:
Top 10 out of 700 Ideaspace National Competition for idea stage startups
Top 15 early stage startups APEC Accelerator Program
Top 13 AMY Intellectual Property Awards
Top 6 IBM ASEAN Smartcamp
Incubated by Ideaspace, backed by one of the largest conglomerates- MVP group of companies.

2013:
Launch 100W to 1kW for lighting use
2014:
7kW to 50kW Wegen for Municipalities and Commercial Establishments
2015:
100kW for Municipalities
Licensing of IP to Multinational Company
2016:
100kW for Distribution Utility
2017:
300kW to MW Wind Turbine Technology

Growth, Finance & Leadership
Scaling the Solution: How do you intend to scale your activities over the next two years (e.g., reach new markets, diversify solutions, etc.)? What will make this possible?

Product perspective, we will increase the wind turbine rated capacity every year until we can fully develop the MW level. With Industry and Academic (Adamson University) collaboration, we can fast phase the development of the technology in lean way. We will ascertain local manufacturing firm to fabricate the technology. We will increase the capacity to reach and expand new markets such as to license the technology. We will leverage partnership from multinational firm like IBM or GE for example so we are able to push the technology to the global market.

Financial Sustainability: What is your business model to ensure financial sustainability?

Our primary business model is direct sales where customers can purchase the whole turbine either through installments or lump-sum payment. With an estimated selling price of 375K USD, customers can save around 35K to 60K USD/yr. For the financial forecasts, with a rated capacity of 50 KW and annual energy payback of atleast 244,000 KWH, with a conservative assumption of selling just one turbine per, we can be be profitable in year 3.

Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered.

As a scholar, I had proposed technology that gained interest from industry experts of multinational company and made connections from top level executives. I had secured funding to my startup, before even graduating in my undergrad degree. I am continuously learning, innovating with passion in business, science and technology. With dreams and values for excellence, to make difference and create impact to the society, aims to change the world.