LO3 which is a blockchain startup recently announced a partnership with European Power Exchange (EPEX). EPEX is in the business of linking the different microgrids in order to enable the wholesale exchange of power.
Both the companies recently signed a memorandum of understanding which would enable them to create a blockchain-based platform in order to trade and exchange power. This would not just be limited to larger power sellers but also individual retail power users. The EPEX is a registered company in France and also operates in Germany, Netherlands, Switzerland and Belgium. Also, it enables users to sell excess power which they have generated with the help of solar panels.
According to the CEO of EPEX Jean-Francois Conil-Lacoste, this move would help them bring about a digital innovation and open up a huge market for them to expand their business.
The startup LO3 would be responsible for creating the platform on the blockchain technology which would help them leverage…