Blockchain Microgrid Venture Lauched With Schneider Electric, Arensisbr>
Arensis, an international provider of decentralized energy systems, and Schneider Electric, the energy giant which is one of the bigger international microgrid development firms combining energy, automation and software, has announced the joint development of its smart microgrid blockchain pilot program.
As part of the pilot, Arensis and Schneider Electric will develop a blockchain Application Programming Interface (API) platform for ENTRADE IO, a newly-formed company founded by the CEO of Arensis for off-grid project financing and the sale of renewable energy in remote areas around the world.
Joint development of the smart microgrid systems, combining waste-to-energy, solar and storage, will launch in North America with plans for growth on a global scale. The pilot will explore integrated renewable energy solutions using resources to develop, monitor and operate the systems through augmented reality (AR).
The newENTRADE IO financing platform is already underway outside of the US, helping to raise funds for projects in areas of greatest need, primarily Asia and Africa.
“Our collaboration with Schneider Electric on the development of microgrids with turnkey solutions and project financing structures will bring our long-time vision to life,” said Julien Uhlig, CEO of Arensis and founder of the new ENTRADE IO entity. “I believe that blockchain is the missing piece to help us bring our decentralized utility to all parts of the world. Smart contract ledgers, free flow of capital, dedicated token offerings for funding and direct donations will revolutionize the way small-scale, high social impact energy projects will be funded in the future. We are incredibly proud to partner with Schneider Electric, one of the largest automation companies in the world, to make the ENTRADE IO platform a reality.”
Live monitoring and the generation and distribution of energy to end-users via Arensis IoT applications, in cooperation with Schneider Electric, is designed to create a fast and highly-efficient energy infrastructure.
“Traditionally, 50 percent of time spent on maintenance involves finding information, with the remaining 50 percent devoted to actual intervention on the equipment for smart grid technologies,” stated Mark Feasel, Schneider Electric VP Smart Grid North America Operations. “The system we are working on with Arensis allows users to find information faster, reduce operator error, and avoid machine downtime, with features such as giving users the ability to virtually open electrical cabinet doors and increase their overall efficiency.”
Until now, the direct sale of power on a micro-level has been limited by high transaction costs and the cost of operating a small-scale utility for individual customers has not been feasible. Blockchain technology, integrated with smart metering, efficient demand-based power management, automation and AR-based forecasting, is now streamlined with fully automated smart contracts and ledger processing.
Arensis licensing and expertise in decentralized energy systems utilizing localized biomass fuel sources, combined with the smart microgrid expertise of Schneider Electric, is a global solution for those currently without access to energy in regions most impacted by climate change and the key to resilience, optimized energy costs and sustainability.