TEPCO and innogy Close Series A Investment in a Peer-to-Peer Energy Trading Platform Venture
10 Juillet 2017 - 12:00PM
JCN Newswire (English)
Tokyo Electric Power Company Holdings, Inc. (TEPCO) has closed a
EUR 3 million Series A investment in Conjoule GmbH, a start-up
developing peer-to-peer energy markets enabled by blockchain
technology.
Conjoule is developing a peer-to-peer marketplace for producers and
consumers of renewable energy, as well as owners of batteries and
other sources of flexibility, to transact with each other without
the need for traditional intermediaries. The platform and launch
product which allows residential prosumers with solar photovoltaic
installed on their homes to sell excess electricity to local
consumers are currently being piloted in two German cities.
"Blockchain technology will redefine what is possible within the
energy ecosystem," said Shin-ichiro Kengaku, Managing Executive
Officer and Chief of the Global Innovation & Investments at
TEPCO. "We look forward to partnering with Conjoule and the innogy
Innovation Hub to gain hands-on experience and drive the
transformation of the energy industry."
"Conjoule has a clear vision to create tomorrow's energy system:
it's decentralised, digitised and customer friendly. It follows the
idea of the 'sharing economy' where consumers can buy energy
directly from their neighbourhood via Conjoule's platform," said
Thomas Birr, Senior Vice President Innovation & Business
Transformation of innogy SE and leading the innogy Innovation
Hub.
Attachment: Diagram of the P2P electricity purchasing platform
http://bit.ly/2v2qoxg
About TEPCO
Tokyo Electric Power Company Holdings, Inc., headquartered in
Tokyo, Japan, is the largest utility in Japan. We provide
electricity primarily to home and business in the Kanto region of
Japan, one of the world's most heavily populated areas. Worldwide
the company has more than 74 subsidiaries and affiliates in 8
countries and employs approximately 33,200 people. Operating
Revenues for the fiscal year ending March 31, 2017, totaled 5.4
trillion Japanese yen.
The company was established in 1951 and is listed on the First
Section of the Tokyo Stock Exchange. For more information, visit
http://www.tepco.co.jp/en/corpinfo/index-e.html
About Conjoule
With offices in Germany and 15 other European countries, innogy's
businesses include renewables, distribution, retail and customer
solutions. Amidst an electricity business environment experiencing
great changes in the fields of renewables and accumulators, innogy
has established offices in not only Germany, but also Silicon
Valley (US), Tel Aviv (Isreal), and London (UK). By investing in
new ventures that apply IT to the electricity industry, innogy has
become a world leader in innovation.
Number of employees: 40,636
Headquarter location: Essen, Germany
Proceeds: 43.6 billion Euros
Source: TEPCO
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