An “eBay” for Energy Companies Is Set To Launch in June 

A U.K. consortium led by blockchain technology developer Electron is hoping to have an “energy eBay” up and running by June. Joanna Hubbard, COO of Electron, says that bilateral trading on the site will begin in a few months, and the project will become a shared marketplace for energy assets to respond to pricing signals.

Electron won a $900,000 grant to develop the energy trading framework in 2017 and is backed by some big names in energy like Siemens and National Grid. They realized that it wasn’t the tech that would be a hurdle, but “getting the industry buy-in,” said Hubbard.

But there are companies who jumped at the chance to be a part of the trading site.

Yoav Zingher, KiWi Power’s CEO and Founder, is excited to be a part of the project, stating, “Open and transparent markets are of vital importance to secure the most efficient, flexible future for electricity markets. KiWi Power has a strong track record over the past decade of delivering the best results for our clients in existing markets and will use this experience to guide the development of this new dynamic marketplace. As disruptive pioneers in the electricity industry we are excited to be part of a leading project to bring markets for flexibility forward into the 21st century.”[1]

[1] http://www.ibtimes.co.uk/edf-energy-shell-join-electrons-blockchain-energy-consortium-1658271

Follow us on social media for the latest updates in B2B!

Latest

Pharmaceutical
Revolutionizing the Audit Process: Advancements in Supplier Assessments Within the Pharmaceutical Sector
March 23, 2023

Pharmaceutical companies invest significant resources in research and development to discover new drugs and therapies and improve existing ones. This involves rigorous testing, clinical trials, and obtaining regulatory approval before a drug can be sold. Government agencies, such as the Food and Drug Administration (FDA) in the United States, oversee the approval process and conduct […]

Read More
Disaster Response
Lessons Learned in Disaster Response, Recovery, and Resiliency
March 23, 2023

Natural disasters are one of the most unpredictable, but expected forms of destruction that humanity can expect to happen anywhere and at any time. Unfortunately, many types of disasters result in the loss of life, in addition to wide-scale devastation. When it comes to educational facilities like schools, there’s a certain type of disaster response […]

Read More
How Open-Source IoT Solutions are Redefining the Edge
March 23, 2023

For the tech industry, finding solutions is a daily priority. So, the discovery of new and improved solutions is always a constant goal for the advancement of this. In a new episode of “To the Edge and Beyond,” host Michelle Dawn Mooney interviewed Intel Product Engineer Sean Williams, and IOTech CTO Jim White, to […]

Read More