Electron receives second round of funding for energy platform in Korea

it will work with local partner GridWiz and Imperial College London to pilot its technology in the market

By Jonny Bairstow

Electron has been awarded a second funding grant from the UK Government to advance its energy flexibility trading platform in South Korea.

Working with local partner GridWiz and Imperial College London, the firm will research, design and test energy flexibility products for the country’s market,¬†analyse the potential of these technologies and assess their value.

The platform uses blockchain technology to incentivise users, as well as create opportunities for ‘flexibility buyers’ to save money and allow ‘flexibility sellers’ to maximise the value of their assets

Paul Massara, Electron CEO, said: “The South Korean electricity markets are decarbonising and decentralising and now is the time to start building the next generation of smart infrastructure.

“This platform could facilitate better integration of assets and uptake of energy flexibility, to creating a cheaper, greener electricity system for all.”

Latest Podcast