Electron is to develop flexibility trading platforms in Switzerland and South Korea as the energy blockchain specialist expands its smart platform technology into international markets.
The company has signed up to work with eEnergy Center, a Swiss innovation hub working to accelerate the energy transition through digitisation, to develop and commercialise the application of flexibility trading in Switzerland.
Working within a consortium of parties, including a number of Swiss network companies and energy producers, Electron will seek to integrate large numbers of smart devices and data points into a platform that can act as a marketplace for flexibility.
“All developed grids are facing the same challenge of how to integrate 100,000s of devices into the balancing system. This shows that the Electron flexibility platform is applicable in different international markets,” said the company’s chief executive, Paul Massara.
In addition, Electron has today been awarded over £430,000 to pilot an energy flexibility platform in South Korea under a bilateral smart energy innovation collaboration with the UK.
Project Artemis will see Electron work with demand response aggregator GridWiz to research, design and test energy flexibility products for the South Korean electricity market.
Building on the existing platform, the project aims to develop a marketplace that can provide price signals to incentivise demand side response capacity, maximise the value of existing assets and inform investment decisions for flexibility providers and grid operators.
The new projects see Electron continuing to gain global interest in its blockchain-enabled platform, with Tokyo Electric Power Company (Tepco) investing in the UK-based start-up at the start of the year.