Today: July 16, 2018, 3:17 am
  
Business

TEPCO and innogy Close Series A Investment in a Peer-to-Peer Energy Trading Platform Venture

TEPCO and innogy Close Series A Investment in a Peer-to-Peer Energy Trading Platform Venture
PR-Inside.com: 2017-07-10 13:42:45
Tokyo and Essen, July 10, 2017 - (JCN Newswire) - 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

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 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

Press Information


Published by
ACN Newswire
+65 6304 8926
e-mail
www.acnnewswire.com



# 406 Words
Related Articles
 
More From Business
Banco Santander Chile Announces New Independent Director [..]
Santiago, July 13, 2018. In yesterday's session, the Board of Directors of Banco Santander Chile appointed Mr. Rodrigo Vergara [..]
REC Silicon - Invitation to the second [..]
Fornebu, Norway - July 13, 2018: REC Silicon ASA (REC Silicon) will release its Q2 2018 results on Thursday, July [..]
Cognosec AB (Publ): Rebrands as CYBER 1 [..]
      PRESS RELEASE                                               London, 13 July [..]
Agfa-Gevaert : Publication of a transparency notification [..]
(Article 14 of the law of May 2, 2007 on the disclosure of significant shareholdings) Mortsel, Belgium - July 13, [..]
Change of the release date of the [..]
Stockholm, July 13, 2018 – Anoto Group (Anoto) today announces that it is going to change the release of the [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.