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Major UK Energy Company Acquires Stake in Blockchain Firm Electron

Kaluza — an intelligent grid technology company that provides software and hardware products to the energy sector — has reportedly made an investment in Electron, a London-based energy tech company that uses blockchain technology. The move aims to facilitate Electron’s deployment of distributed energy trading platforms.

Electron will purportedly use the proceeds of the investment to develop its energy platforms and systems, or its distributed flexibility marketplace. “The development of Electron’s shared asset register will be crucial to supporting the growth of Kaluza and deliver on its mission to securely connect all devices to an intelligent zero-carbon grid,” the post explains.

Blockchain has seen multiple applications in the energy sector globally. Earlier in March, Thaipetroleum refining firm Bangchak Corporation Public Co. Limited (BCP) began testing a blockchain-based energy trading platform and commercial microgrid. The platform will support the basic electricity needs of an average BCP fuel station in addition to generating, distributing and storing energy for neighboring shopping mall tenants.

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