Siemens Blockchain to work with Microgrids
An American startup has started a new partnership to help the Siemens Blockchain project, as the company wants to develop a peer-to-peer energy transfer program based on the Ethereum Blockchain.
Siemens Blockchain Project with LO3
To do so, LO3 will work together with tech giant Siemens to help its new TransActive Grid project, which allows users to sell their own power to other microgrid stakeholders.
In a press release published today, Siemens said they will provide the startup with its microgrid control technology.
Recently, we need to remember, LO3 was awarded as a patent for its decentralized energy transfer project by the US Patent and Trademark Office.
Thanks to this collaboration, LO3 will work together with Siemens’ Next47 Unit, opened earlier this year.
Siemens indicated that this project created between the two companies will be able to have future impacts on its own global client base.
In fact, Siemens is one of Germany’s biggest companies, and also one of Europe’s largest engineering businesses.
CEO for Siemens’ Energy Management Division, Ralf Christian, explained:
“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.”
Siemens and LO3 will test blockchain-powered microgrids in New York and other worldwide locations, as the two companies explained today.
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