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Siemens and U.S. startup LO3 Energy collaborate on blockchain microgrids

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Siemens and the New York startup LO3 Energy are collaborating in the field of innovative microgrids. The goal of the collaboration is to jointly develop microgrids
that enable local energy trading based on blockchain technology. Siemens is involving its next47 unit, which was established in October 2016 as part of an
ecosystem for partnerships with startups to take a leading role in the evolving decentralized energy system market. As a startup, LO3 Energy is currently
supported by Siemens Digital Grid and next47, in developing a solution for a blockchain-based microgrid in the New York borough of Brooklyn – the first of its
kind in the world and a starting point for developing other joint microgrid projects in US and other countries.
“The constant evolution at the grid edge requires advanced control, automation and data analytics technologies enabling secure, stable and reliable integration of decentralized energy systems as well as supporting the establishment of new business models. We’re convinced that our microgrid control and automation
solutions, in combination with the blockchain technology of our partner LO3 Energy, will provide additional value for our customers whether on the utilities side or on the prosumer side,” said Ralf Christian, CEO of Siemens’ Energy Management Division. Lawrence Orsini, founder of LO3 Energy: “In the world of finance, blockchain
technology is rapidly advancing across many sectors, but in the energy market,
Smart Grid / T&D | News published on 25 / 11 / 2016 by Rashmi Nargundkar

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