Japan is the latest of a growing list of countries to have welcomed the flourishing cryptocurrency-based startup that is Power Ledger (POWR) – landing arguably their most significant coup to date.
On late Tuesday afternoon (JST), the Australian crypto-based company announced that they’d partnered with Japan’s largest private energy enterprise, Kansai Electric Power Co. (KEPCO). The market reacted strongly to the news, with $POWR jumping ~20 percent in the hours thereafter, per CoinCheckup.
As is often the case with Power Ledger announcements, this partnership will start with a trial – in this case, involving ten households – so as to create a Virtual Power Plant (VPP), “where consumer-owned generating and storage capacity can be used to support local energy demands.”
*ANNOUNCEMENT* Power Ledger and Japan’s second-largest electricity utility Kansai Electric Power Co. (KEPCO/@KANDEN_Official) have today announced we will partner to trial peer-to-peer renewable energy trading in Japan.
More details: https://t.co/PAiPugsi4a
— Power Ledger (@PowerLedger_io) April 24, 2018
Indeed, the Osaka-based KEPCO are no reckless startup willing to jump at anything in the hopes of accumulating market share, for they have been operating in the historically conservative sector since 1951. Led by co-founders Dr. Jemma Green and David Martin, Power Ledger’s ability to partner with such a powerful market incumbent speaks volumes about how commercially sound their value proposition must appear.
Coinciding with today’s announcement was a four-way interview conducted by growing YouTube channel Nugget’s News Australia. The 14-minute video featured Power Ledger’s Martin, as well two representatives from Greenwood Solutions – David Fulton (Project Engineer) and Eddie Greco (Director).
Of course, late last month Greenwood Solutions and Power Ledger announced a partnership to bring renewable energy trading to Australia’s second largest city, Melbourne, for the first time. In the interview, Martin told host Alex Saunders that Power Ledger are looking to establish a Melbourne-based office in the near future.
Number Of Partnerships Is Unrivalled
The blockchain-based startup is certainly checking off the partnerships in recent times. In fact, Power Ledger boasts the most projects deployed and planned by distributed ledger technology projects in the energy space – per GTM Research (since rebranded to Wood Mackenzie).
Aside from those with KEPCO and Greenwood Solutions, they are currently trialling their disruptive software platform in Thailand, India, United States, and other parts of Australia.
“Stepping Up Our Approach” – Power To The Windy City?
Martin also revealed (at 12:48) on Nugget’s News Australia that the company is in “deep conversation” with Northwestern University (Chicago, IL). Power Ledger is hoping to be able to demonstrate the technology “across one of their campuses,” which as Martin explains, would involve “using their Master of Engineering students to do the recording and validation of the technology of the blockchain, of the energy trading, of the value of that energy trading.”
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