Meet Our Member – ENERASH
Can you tell a little about yourselves and what you do?
I’m the Co-Founder and CEO of an energy tech company, Enerhash. We provide a solution for energy companies to maximize the value of power generation by connecting our decentralized data centers. By the flexible consumption of our data center we balance the power grid and optimize power plant production.
What inspired you to create your own company, Enerhash?
I was working as a natural gas trader at a mid size corporation, working 12 hours a day, sitting at my desk, making an average salary. After a while, it was not a big challenge for me. I was always coming up with new business ideas, but it is really hard to bring it through in big companies because of administration issues and the lack of time and management interest. I was always inspired by people who risked everything, started their own business, never gave up and became successful. I started to develop my project at home, everyday after work, and when I saw it could work, I gave up everything and started my own business.
How was the journey up until now?
I left my full time job to concentrate on my project, but I had to realize it took more than what I was capable of handling alone. I needed a partner. It took months to convince my brother to join me, as there was always some sort of doubt within him, however, after long consideration, he gave in and we started to cooperate. The convention of him, gave me the feedback that this project, which I had spent countless hours working on, really could come alive.
We complemented each other. His main focus was the administration and operation, while mine was mainly the business development. We have closed our first investment round and started to develop the first data center. This was a new technology for the energy industry, therefore, to implement it in a traditional market, it took us a lot of challenges. A lot of struggle and ups and downs, but we kept doing it, because we believed in it, and we knew it was working. We have successfully implemented our first project with the leading power company and we have cooperation with most of the electricity companies. We are present in more countries and we keep growing.
What are your ambitions for 2021?
We implemented our first project, and we have very good prospects for this year. We need to focus on building up our Enerhash team, and we also have some potential new projects coming up. We have a lot of chances to develop our business as we are up front of the market.
What is your view on cryptocurrencies?
I think cryptocurrencies are shaping the future. The fundamentals are already set, but the wide adoption is still missing. The blockchain technology behind it is the greatest invention of the past decades. By the time the adoption will be greater, as hedge funds, financial institutions and corporations started implementing in their system.
What challenges have you faced during the “time of corona” and how did you deal with them?
During the first wave, I moved to the countryside with my brother, to keep working and I was sleeping on the floor of the office for months. In the meantime, I renovated my apartment in Budapest. We had a project set in Moscow, which we decided to close, as traveling was made impossible. Our projects in Hungary were postponed for almost half a year as all the partners were struggling of Covid. The decision making, on the behalf of the energy companies, had slowed down extremely during summer, and just when things started to look up, came the second wave. I think people adapted great to the situation, but unfortunately, most of my partners had Covid, as did we. Luckily, with time, the online meetings became super effective and useful, and we were able to continue developing our projects through them.
Why did you choose HubHub as your working space?
I heard of HubHub through one of my friends who was working there at the time. We went in together one day, and I was immediately amazed. I really liked the atmosphere and the directness of people. It’s a great place to start your business, as you meet people who motivate you as well and help you on your journey.