10 leading blockchain-based energy companies
In this article, we have discussed 10 leading Blockchain technology based energy companies
There are many uses for blockchain, including peer-to-peer energy trading and tracking the energy source. According to experts, blockchain technology has the potential to transform the energy industry by streamlining operations across the value chain and addressing the challenges of a decentralized energy system. The article refers to 10 leading blockchain-based energy companies.
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Siemens
A new service from Siemens Energy called Automatic Pay-Per-Use enables utilities to pay for enhanced services only when they are used.
When profitable electricity sales generate income, some of the expense is covered.
Blockchain technology makes this payment mechanism possible.
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Operations
Drift, a Seattle-based company, uses high-frequency trading, distributed ledger technology and machine intelligence to develop a competitively different energy provider.
It began operations in New York City in May after raising $2.1 million.
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Pexapark
Pexapark is an all-in-one renewable energy platform that connects wind energy producers with each other and includes data analytics, peer-based learning, a marketplace for third-party services and professional guidance on PPAs and O&M. Peer data is used in all analysis to gain deeper, more precise and actionable insights.
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Engie
The French energy company, which has invested over EUR 1.5 billion in its digital transformation over the past ten years, is at the forefront of blockchain technology.
Managing energy transactions, including supply, distribution and consumption, is one way to achieve this.
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WePower
WePower, an Australian blockchain startup backed by Japan’s Marubeni, enables a direct connection between green energy providers and energy buyers, such as investors and end users, allowing them to purchase energy in advance at a discount.
The company has developed Ethereum Smart Energy contract tokens for this purpose, which are offered for sale on their e-commerce site.
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Conjoule
To promote peer-to-peer energy trading between rooftop PV owners and interested public sector or corporate customers, Conjoule offers a blockchain platform.
The business was founded in Innogy’s Innovation Hub in 2015, and in July received funding totaling $5.3 million from Tokyo Electric Power Company and other sources.
For the past year, Conjoule has run a pilot in Germany.
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Power Ledger
The Australian business, which specializes in software and technology, is dedicated to expanding the supply of renewable energy.
A blockchain energy trading platform that enables consumers to choose their energy source of choice in France was established by the company in April 2020 in partnership with ekWateur, a French renewable energy provider.
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SAP
The “Green Energy Tracking and Distribution System” (GETDS) was developed using the SAP Cloud Platform Blockchain as part of the WIPRO-SAP co-innovation program.
This solution responds to the evolving requirements of the green energy sector, where energy retailers and distribution service organizations (DSOs) are required to create new business models that encourage consumers to become prosumers while complying with legal requirements for the use of locally produced green energy.
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Electrify
Electrify creates peer-to-peer (P2P) trading of renewable energy in the city using blockchain technology, enabling both utilities and customers to generate and trade electricity.
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Electron
Since then, British startup Electron has communicated a vision to leverage its platform to support broader energy trading and grid balancing solutions. Electron started with a blockchain-based solution to help UK customers switch energy suppliers. It won support from the UK government last month to expand its platform, thanks to assistance from Siemens and National Grid.
