We all use electricity, and a lot of it. Research has shown that in 2013 we used 18 terawatt/hour (TWh)of electricity. If all electricity was created with oil, we’d have to burn 90 billion barrels of oil to generate 18 TWh. Besides this being an expensive endeavor, it also has a huge negative impact on our planet.
Since the industrial revolution, our consumption has been growing rapidly. Only a few decades ago did scientist notice the dangers of using all these fossil fuels for our energy consumption. Something needs to change. This is also the philosophy of Deneum, a company that aims to revolutionize how we generate and consume electricity.
The Deneum Power Station can save billions of dollars
Deneum has created a box that generates a large amount of energy for a low cost. The Demeum Power Station is a module with a capsule inside. Inside this device, titanium and deuterium (or heavy water) interact while being heated. This interaction leads to excessive heat which is turned into energy, also known as electricity. Some of this will be used to power itself. The other electricity can be used for other appliances. Research has shown that there is more than enough titanium in the world to cover the entire global electricity usage. The team of Deneum has been working on this technology since 1989. The goal is now to introduce it to a global audience. Deneum will produce 3 stand-alone Power Stations. The smallest will produce 5 kWh, the middle sized one 10 kWh, and the big one generates 100 kWh.
The price of the Power Stations will be comparable to 2 or 3 years worth of electricity consumption. These stations will supply a household for 30 years. These cheap units are especially interesting for governments and manufacturers. But it could also solve the negative impact crypto mining has on the environment. Even though these Power Stations wouldn’t be out of place in residential households, Deneum also plans to sell electricity generated by their own plants.
The Deneum token (DNM) to buy electricity
In order to streamline their business, Deneum is offering utility tokens, DNM. With these tokens, consumers can purchase electricity directly from the company. DNM are provided using smart contracts based on the Ethereum platform that meets the ERC-20 standard. DNM tokens can be stored in various wallets and services. As it is based on Ethereum, Deneum will announce which branch it will support in case of an Ethereum fork.
When buying electricity with DNM, the Power Stations remain in the possession of Deneum. The devices are rented free of charge for a period of a year. After that year, the customer has the option to prolong the rental agreement for another year. It is expected that the price of DNM will adjust itself to approach the average electricity price around launch time, which is scheduled for late 2020. (edited)