Insolar has been named amongst the top 100 firms by the Start Up Energy Transition (SET), an international initiative which supports innovation in transitioning to greener energy. SET brings together the most outstanding international start-ups in the field of energy with key stakeholders in the sector, such as Shell, E.ON, EDF and the government offices of several countries.

The initiative partners with the German Energy Agency (dena) to celebrate and promote green-tech innovation worldwide. Moreover, SET works in cooperation with the World Energy Council (WEC), a UN-accredited global energy body, with member organisations including governments, private and state corporations, academia, NGOs and energy-related stakeholders to make the global energy transition a success. Both dena and WEC are contributing to achieving energy and climate policy objectives set out by the Paris Agreement to limit the global temperature increase to 1.5 degrees Celsius.

Submissions to SET were evaluated by a panel of esteemed jurors made up of internationally recognised experts from politics, the energy sector and business. The jury members identified and compiled a list of the top 100 of the most innovative, savvy and promising start-ups. Insolar’s submission outlined a blockchain powered transactive energy platform that seamlessly connects grid operators and owners of distributed energy resources to conduct energy transactions for a smarter, more sustainable, and resilient grid. The transactive energy platform solves the trust issue between stakeholders by using transparent, enforceable business logic to automate energy exchanges that ensure overall grid reliability.

“We at Insolar are honored to be named by SET as among the top 100 tech innovators facilitating the global energy transition to greener power and a reduction of the factors contributing to climate change. A transactive energy platform based on the Insolar blockchain addresses the pain points of all energy stakeholders by helping them work together for a more sustainable future,” noted Insolar CEO, Andrey Zhulin.

Insolar recently entered into a cooperation agreement with Canada’s Hero Engineering Inc. to develop and test the capabilities of a blockchain-based platform for improving the resiliency and efficiency of energy systems. The project, which is funded in part by the Canadian Ministry of Natural Resources and Energy (NRCAN), will integrate the Insolar blockchain into a transactive smart grid prototype. It is designed to facilitate distributed energy generation from renewables, as well as the effective use of electric vehicles, energy storage systems, and smart thermostats.

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