It will enable Northwestern to trade the power generated by solar panels on university buildings between facilities without investing in any technology of its own, with Power Ledger collecting a small percentage of each trade.

Boost for platform

In a boost for Power Ledger's blockchain trading platform, Clean Energy Blockchain Network, formed by a former top US Department of Environment official and energy consultant with blue chip firms, has abandoned plans to develop its own energy trading blockchain to use Power Ledger's instead.

"Moving beyond trials and into commercial deployment of the Power Ledger energy trading platform in a historical trading market like Chicago is a major opportunity," Power Ledger managing director and co-founder David Martin said.

"We're excited to demonstrate how the platform can assist with cutting both costs and carbon with a secure, clean energy source."

From left: Muhammad Asad Khan, Northwestern University Masters in Engineering student; Mark Werwath, Clinical Associate Professor & Director of Master of Engineering Management Program; Mark Johnson, Founder Clean Energy Blockchain Network; and David Martin, Power Ledger Managing Director and Co-Founder. Supplied

The Perth company hopes the relationship will lead to hundreds of clean energy trading projects, starting in the clean energy-rich markets of California, Texas, New York and the PJM utility footprint from Illinois through Pennsylvania and New Jersey to Washington DC.

Opportunity


"It's a good opportunity to demonstrate the value of the platform but also the accuracy of the platform and show that everything works as it says," Mr Martin said.

Power Ledger's platform uses blockchain – the distributed ledger technology that underpins Bitcoin and other cryptocurrencies – to record and settle energy trades between neighbouring households, business premises, university facilities, schools and community centres.

The utility-grade deployment will initially run across four buildings curated by Northwestern University's Master of Engineering Management Program with implementation to kick off in the coming months. On-campus peer-to-peer trading will be followed by connection to external counterparties across multi-campus universities, museums, laboratories and other facilities.

Power Ledger's tie-up with Northwestern University and Clean Energy Blockchain Network is the latest international deal secured by co-founders Dave Martin (managing director) and (chairman) Jemma Green Trevor Collens

Clean Energy Blockchain Network will provide local, hands-on technical assistance led in the Chicago region by Northwestern University graduate Dr. Mike Ashley and Masters of Engineering students at Northwestern will provide monthly measurement and verification to critically evaluate clean energy blockchain applications and use cases with prominent hosts throughout the region.

"Power Ledger has the ability to encourage more clean energy assets with faster paybacks via kWh trading and achieving carbon reduction targets," Dr. Ashley said.