TEPCO looks to the transformative potential of blockchain by investing in Electron, a UK energy technology company
19 Janvier 2018 - 4:00AM
JCN Newswire (English)
Tokyo Electric Power Company Holdings, Inc. (TEPCO) announced
today that it closed an early-stage bridging round investment in
Electron at the end of 2017.
Electron is a London-based technology company harnessing blockchain
technology to establish more efficient, flexible, and reliable
systems for the energy sector. Together, they will explore the
potential to change the existing centralised structures to
decentralised systems in energy transactions by using
blockchain.
"We are excited to work with Electron to explore and obtain
additional know-how on blockchain that has the potential to
significantly impact the energy market," said Shin-ichiro Kengaku,
Managing Executive Officer and Chief of the Global Innovation &
Investments at TEPCO. "We believe it is very important to
continuously seek new opportunities and create new value for
society."
Paul Ellis, CEO of Electron said, "In the next phase of energy
transformation, millions of new assets will be joining energy
networks at both the transmission and distribution levels. There is
a huge need to create a robust shared infrastructure that can
identify and record the properties of these assets - this can be
underpinned by appropriate blockchain technologies. TEPCO is an
energy industry leader for innovation in Japan, so we are delighted
to partner with them to explore expanding our service offerings in
other markets."
About TEPCO
Tokyo Electric Power Company Holdings, Inc. (TSE:9501),
headquartered in Tokyo, Japan, is the largest utility in Japan
serving millions of homes and businesses. Worldwide the company has
more than 34 subsidiaries and 32 affiliates in 8 countries and
employs approximately 42,060 people. Consolidated revenue for the
fiscal year ending March 31, 2017, totalled 5.3 trillion Japanese
yen. The company was established in 1951 and is listed on the First
Section of the Tokyo Stock Exchange. For more information, please
visit http://www.tepco.co.jp/en/corpinfo/index-e.html
Contact:
Media Communications Group, Corporate Communications Office
+81-(3)-6373-1111 (Switchboard number)
For enquiries, please contact
https://www4.tepco.co.jp/en/other/contact/media-e.html
About Electron
Electron is a London-based tech company harnessing blockchain to
design new platforms and services for a decarbonising, digitising,
decentralising and democratising energy sector. Recognising the
potential for these new technologies to transform the shared
virtual infrastructure of the grid, Electron is taking a top down,
collaborative approach to platform development and working with
various key stakeholders in the energy industry. For more
information, please visit www.electron.org.uk
For further information:
Oenone Scott, Communications Manager
020 7096 1519
oenone.scott@electron.org.uk
For media enquiries:
Oliver Buckley/Michael Zdanowski
Madano
+44 (0)20 7593 4000
oliver.buckley@madano.com
michael.zdanowski@madano.com
Source: TEPCOElectron
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