The Energy Web Foundation Partner With Electron To Design And Build Digital Infrastructure For The Energy Industry HSV GTS Follow Apr 14 · 6 min read

Who are Electron ?

Electron is a London-based energy technology company combining blockchain and energy expertise to design and build digital infrastructure for the energy industry.

The company is developing the identity and trading platforms that will underpin the transition to cheaper, cleaner and more resilient power systems.

Founded in 2015 Electron is internationally recognised as a leader in its field , having been named a 2017 World Economic Forum Technology Pioneer and recently a Cleantech 100 company.

, having been named a 2017 World Economic Forum Technology Pioneer and recently a Cleantech 100 company. Electron currently operates in three countries, working alongside utilities, regulators and other technology providers to bring flexibility and coordination to energy grids.

What we believe

The full benefits of the energy transition will require integration of all energy resources into efficient, transparent marketplaces.

Integration will entail the creation of many new markets (green, local, responsive, grid services, etc.) that will need coordination.

Coordination is best achieved through new shared data platforms to which multiple markets and services can refer.

Blockchain will be key to creating these new platforms, both aligning incentives to complete and maintain data sets and ensuring trust and transparency.

Our flexibility platform enables the following:

Network and system operators

To improve visibility of distributed energy assets and to more efficiently manage the intermittency, congestion and power quality challenges that they present.

Asset owners, operators and traders

To better manage energy asset level data and to access new revenue streams stacked across national balancing, local congestion and financial vectors.

Retailers and aggregators

To develop differentiated service models for customers and recruit new assets and hedge risks with better granularity.

Consumers

To benefit from a low-cost, low-carbon energy system thanks to more efficient use of clean generation and network assets.

Products

Asset register

A register of all grid connected assets and data relating to them that provides the following:

Greater visibility of the distributed grid to network operators.

Simpler, integrated data management tools for asset operators.

Coordinated access to various data sets to multiple stakeholders.

Market hosting platform

A launch platform for asset-specific markets and services that provides the following:

A single venue for procurement across multiple energy markets and grid services.

Access to multiple market and value stacking opportunities for energy assets.

The tools to determine the most efficient actions across the whole energy system.

Markets

Curtailment

Enables renewable generators to avoid grid constraints and revenue loss by interacting with flexible assets.

Balancing

Allows utilities and energy assets to manage their supply / demand positions with new market participants.

Attribute

Additional markets for physical (e.g. location, response profile) or financial (e.g. local + green) attributes.

Data & Services

Markets can be set up to allow buying and selling of data for analysis and services (e.g. financing, insurance).

Projects

Trader (Great Britian)

Trader is a consortium of key players in the EnTech industry to develop a multi-product flexibility marketplace platform.

The three-year project will pilot different energy market products such as demand turn-up and curtailment trading before combining them to demonstrate collaborative market trading across various services.

The single access point will make it easier for distributed energy resources to provide valuable services such as balancing, stability and network capacity.

This will promote more low cost, low carbon generation into the system by creating new revenue opportunities for clean technology operators.

Groupe-Bilan Flex (Switzerland)

The GB Flex project will develop a market to enable distributed energy resources to respond to changes to forecasts of consumption and generation.

Participating assets will contribute to resolving their combined imbalance position by trading with one another.

Electron is leading the market design process to establish the trading mechanism for the internal flexibility market, coordination and balancing markets and rules for market participation and reallocation of trading costs among the balancing group members.

L2L (Canada)

London2London is a collaboration led by Canadian Local Distribution Company, London Hydro.

The project leverages the Electron platform to give visibility of the distributed resources on London Hydro’s network.

This information is the foundation of a new peak shaving market, London Hydro will pay residential and commercial customers when they use their flexible assets, such as batteries to reduce peaks and transformer congestion on the Ontario grid.

The project will demonstrate Electron’s unique approach of combining asset visibility with a marketplace for energy services.

Artemis (South Korea)

This project will be the first of its kind to build an energy flexibility trading platform in South Korea.

Together, Electron, Gridwiz and Imperial College London are collaborating to research, design and test energy flexibility products for the South Korean electricity market.

Building upon Electron’s existing flexibility trading platform the project aims to establish the first layer of a marketplace providing price signals to incentivise demand side response capacity, maximise the value of existing assets and inform investment decisions for flexibility providers and grid operators.

Why Electron and The Energy Web Foundation ?

Electron is a leading player in the development of energy blockchain use cases, in particular its Flexibility Trading platform in the UK market.

We are seeing significant demand from other geographical markets for our Flexibility Platform and so now we see it as a logical step to partner with the EWF.

The EWF brings together energy blockchain experts which helps promote the use and governance of blockchain globally.

We are excited to be part of this organisation and look forward to playing a full role in moving it forward.

Jesse Morris, Co-Founder and Principal at the Energy Web Foundation said we are thrilled to officially bring Electron into the EWF ecosystem.

Electron was one of the very first organizations to recognize the potential of blockchain in energy.

to recognize the potential of blockchain in energy. Given their technical expertise and deep experience in the UK power market Electron will play a vital role in helping EWF better design our platform to support decentralized applications.

Electron hosts the UK Energy Industry’s first blockchain hackathon

The Hackathon was held in London with developers and energy professionals to find solutions for a digital energy future.

Teams were made up of Big Six energy suppliers, independent energy suppliers, distribution network operators, professionals from the water industry and third-party intermediaries.

The one day event gave software developers and other energy professionals the opportunity to access the blockchain energy asset register designed to be a single source of technical data.

The winning hackathon team was from Octopus Energy. Their concept used the blockchain asset register and smart contracts to tackle some of the issues faced by many customers with pre-payment meters.

Electron Team

We are a 20 strong team of commercial, operational and technical experts including ten in-house software developers.

Headquartered in London we also have a presence in North America and Continental Europe.

Our Founders

JO-JO Hubbard CEO & Co-Founder