IOTA’s List of Partnerships Continues to Grow: InnoEnergy Signs MoU

renewable energy

Scandinavian renewable energy firm InnoEnergy has recently signed a Memorandum of Understanding with the IOTA Foundation, as announced on IOTA’s blog.

The collaboration will be focused on innovative business models to aid in the development of smart community solutions.

InnoEnergy is quite a big deal across Europe: the self-described innovation engine has a partnership agreement with ÖrebroBostäder (ÖBO), among Sweden’s largest public building owners. The agreement is to build and implement a series of pilot ‘testbed’ operations in the city of Örebro as a precursor to smart-city innovation.

Most interestingly is the involvement of ElaadNL in the pilot program, an organised collaboration of prominent Dutch electrical infrastructure companies, who will be installing electric car charging stations run on IOTA’s Tangle network.

InnoEnergy’s partnership with IOTA is understood to be the resultant of the impression left by their participation in IOTA’s Data Marketplace, opened in November 2017. The platform is seen as a proof-of-concept of IOTA’s network, providing secure data transfers and micropayments with zero fees – capabilities that are critical for any prospective highly functional smart-community.

InnoEnergy Scandinavia’s Xue Wang, had this to say of the announcement:

The collaboration between InnoEnergy, IOTA foundation and ElaadNL on implementing the Tangle Distributed Ledger Technology in the testbed will facilitate the development of smart community energy markets. The citizens will be empowered to use the decentralised clean energy/e-mobility services with a transparent, autonomous and secured transaction and data management system.”

The Memorandum of Understanding will be effective as of this month.

Image From Shutterstock

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