Siemens Teams Up with LO3 Energy on Blockchain Microgrid
Siemens and New York-based startup LO3 Energy have announced that they are partnering up to collaborate in the field of innovative microgrids through the blockchain, according to a joint press release. The microgrid, which is being planned for Brookyln and was initially started as a pilot project of LO3 Energy, is now being developed further with the aid of Siemens Digital Grid in the U.S. For the first time, a microgrid control solution from Siemens is being combined with the peer-to-peer trading platform from LO3 Energy called the TransActive Grid. The combination of a microgrid control....
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The largest engineering corporation in Europe Siemens AG has recently announced an energy collaboration with fintech startup LO3 Energy to create blockchain microgrids. The blockchain protocol aims to enable energy trades facilitated by a distributed ledger platform. Siemens Pairs up With LO3 Energy to Facilitate Brooklyn Energy Solutions on Blockchain.....
A New York blockchain startup has partnered with tech giant Siemens as it expands an ethereum-based peer-to-peer energy transfer project. LO3 will work with Siemens to grow its TransActive Grid initiative, which enables participants to sell excess power to other microgrid stakeholders. In turn, Siemens will provide the startup with its microgrid control technology, the two firms said today. LO3 was recently awarded a patent for its decentralized energy transfer work by the US Patent and Trademark Office. Under the partnership, LO3 is working with Siemens’ next47 unit, created earlier this....
The blockchain could serve as the foundation of a system for connecting energy grids, delivering more efficient and environmentally sustainable energy, according to Greentechmedia.com, a news site for the global clean energy market. One company, L03 Energy, is building an “open source cryptographically secure” blockchain to manage transactions across a microgrid. Lawrence Orsini, the founder of L03 Energy, said the blockchain’s impact on energy could be much bigger than bitcoin. L03 Energy has built two nodes collecting generation and consumption data across the microgrid and sending it to....
An experimental energy microgrid in Brooklyn, New York, shows how energy-generating homes can become part of a peer-to-peer electricity system, Fast Coexist reports. The project, part of the Brooklyn Microgrid ‒ a distributed energy development group in the Park Slope and Gowanus communities of Brooklyn, creating a connected network for local energy ‒ also shows how distributed ledger technology could enable the emerging "energy Internet." The project starts small: “On one side of President Street, five homes with solar panels generate electricity. On the other side, five homes....
Siemens AG will establish a dedicated business unit under the name, “next47,” to accelerate the development of new technologies, including blockchain applications. The name refers to the company’s founding in 1947. The new unit will combine the independence, speed and agility with Siemens’ financial strength and credibility in serving a global customer base. One of its goals is to address blockchain applications intended to simplify and securitize data transfer in industry and energy trading. €1 billion To Be Invested. Siegfried Russwurm, chief technology officer, said the company will....