GE & EVOLUTION ENERGIE create the World's first Green Blockchain
The system, which was developed by the energy tech startup Evolution Energie, enables users to track renewable power as it moves through the electrical grid and mixes with energy from other sources. “Using blockchain, you can sell energy from your renewable sources to your neighbor without the help of a utility managing the process,” says Fabien Imbault, Evolution Energie’s managing director. “You could share your energy with neighbors or even sell it to a parked electric car on your street and get paid securely.”
Evolution Energie started by building an interface that was simple enough for students at the school to purchase “green” energy from renewable energy sources. They’ve since rolled the system out to the town’s municipal buildings. Up next: businesses and homes.
Above: An image of the ledger of the green blockchain. Image credit: Evolution Energie.
The firm was one of the five winners of GE’s Digital Industry Europe competition, where GE selected startups to work with on Predix-based products. Evolution Energy plans to offer its blockchain electricity trading system to energy-sharing communities around the world by the end of the year. Imbault says that without collaborating with GE, the French startup would have struggled with the global nature of the challenge. Says Imbault: “GE gives us the ability to provide this service at the city scale around the world.”
GE and Evolution Energie collaborate to develop financial tool for energy and multiple commodities
- MoU to develop innovative financial commodity management solutions
- Providing customers with a complete suite to monitor electricity, natural gas and multiple commodities in real time
- A digital tool that will allow customers to follow and optimize their financial energy exposure
PARIS, May 9 2016 – GE (NYSE: GE) and Evolution Energie have signed a Memorandum of Understanding (MoU) to collaborate on expertise and technologies to develop innovative financial energy management solutions for cities, utilities and industrials. This solution will allow customers to access production and consumption of energy in real time along with multiple commodities such as coal, natural gas and water.
In this MoU, Evolution Energie will contribute its software expertise in airport, large industrial firm and commodity trading divisions. GE’s Grid Solutions business will provide its technology and solutions for utilities, harbors, microgrids and cities and will complement this with its integration, cybersecurity, installation and worldwide maintenance capabilities to support global projects. Evolution Energie is a leading software editor for energy monitoring, environmental reporting, commodities trading and risk management solutions, used by the world’s largest airports and corporations in more than 40 countries. Its Flexinergy software suite today monitors more than 6% of the European Union and Singapore gas and power portfolio.
"Combining our expertise will allow us to penetrate new markets and to jointly accelerate our ambitions," said Erwin Guizouarn, CEO of Evolution Energie. "This will allow large energy players and cities to develop breakthrough energy management solutions for their new smart projects and existing portfolios"
Grid Solutions designs and deploys industry-leading technologies that turn the world on, equipping approximately 90 percent of power utilities worldwide. Uniting all the resources and scale of the world’s first digital industrial company, Grid Solutions will leverage its PREDIX™ platform and applications like Distributed Resources Management System, Market Management Systems, Community Energy Management System, Automation & Control and Telecommunications solutions.
"This is a great example of what our technology can bring to accelerate energy transition worldwide," said Laurent Schmitt, Smart Grid Strategy Leader at Grid Solutions. "Customers will soon be able to access all the information they need, in real time, allowing them to make quick decisions and optimize their financial portfolio."
EVOLUTION ENERGIE awarded best French Cleantech Startup 2014 by the European Commission Climate KIC
The competition took place in Les Salons du Louvre – central Paris – in a casual but definitely competitive ambiance, and ended by a convivial cocktail. The event was attended by more than one hundred partners, investors, start-ups, corporates, students and Climate-KIC staff. Nathalie Croisé, a BFM Business TV journalist, specialist of “Sustainable growth”,and Jean-Christophe Duval, Entrepreneurship Lead Climate-KIC France animated the evening, with a speech by Thanh Tâm Lê, Director Climate-KIC, who awarded the prize to the winner, and Olivier Duverdier CEO of ECOSYS Group & CleanTech Open France who awarded the prize to the Challenger.
The Jury was composed of the most important venture capitalists and business angels in cleantech in France such as Demeter, Emertec, Aster, Sofinova Partners and Corporate Investment of Climate KIC Partner GDF Suez.