LO3 Energy, An Existing Energy Web Foundation Validator Updates Their Pando Platform Which Migrates To The EW Chain
The Energy Web Foundation & LO3 Energy Partnership Background
- In 2018 The Exergy network entered into a strategic alignment with the Energy Web Foundation.
- Exergy is a revolutionary approach to a localized energy marketplace.
- Exergy Combines new technologies and innovative methods for capitalizing on energy, data and creating a smarter and more efficient solution.
- GTM Research grid edge analyst Colleen Metelitsa said the significance of the LO3-EWF partnership may lie in the business relationship more than the project. Both companies are big names in blockchain.
- Lawrence Orsini, LO3s Chief Innovation Officer/Founder who in the past has characterized the blockchain industry as mostly hype said relationships like the one between LO3 and EWF will propel the market forward.
- So why the collaboration and what’s it mean for the future of Exergy?
- Bill Collins, LO3 Energy’s President and Co-Founder explains the reasons behind the connection and reveals how it could accelerate the uptake of the Exergy platform for energy data around the world.
Why Has Exergy Chosen To Become An Affiliate Of The Energy Web Foundation?
- “Ideologically, we are aligned. We are developing the Exergy blockchain to become the standardized platform for data distribution within the energy industry.
- EWF is creating a blockchain-based platform on which third parties can use energy data to develop apps that support the energy sector’s regulatory, operational and market needs.
- By becoming an affiliate of EWF we are positioning Exergy as the underlying data platform that EWF and their affiliates can develop their products and services to utilize.”
So The EWF Alignment Is The Next Step Toward Opening Exergy Up To The Masses?
- “Yes, that’s exactly right. The more people that are on the platform using the tokens, the bigger it will grow and this affiliation will enable all the current and future developers on the EWF platform to develop to the Exergy standards and ultimately use the Exergy platform to obtain their data.
- You can’t access Exergy yet because we are still finalizing the standard for the platform but this creates the opportunity to build toward that and by engaging the broader EWF ecosystem at this stage they can participate in helping develop the standards.”
And How Does Exergy Directly Benefit From The Affiliation?
- “As part of the agreement, we are going to develop at least one project with EWF specifically. Additionally, there are currently more than 30 companies actively participating on EWF’s test network, Tobalaba.
- They are all building applications that test and scale diverse use cases including transactive energy, microgrids, community solar, renewable energy procurement and trading, electric vehicle charging and demand response.
- Having the EWF affiliates building new business models and utilizing data on Exergy is one of its greatest benefits and allows us to scale rapidly.”
Find out more about Exergy from our advisors
The Pando Platform Announcement
- On 24 September 2020, LO3 Energy announced an updated version of its Pando platform , a co-branded solution for utilities to create local energy marketplaces for their customers.
- In addition, LO3 and Energy Web (EW) jointly announced that the updated version of Pando has migrated onto the Energy Web Chain .
- “Electricity grids around the world are decentralizing as customers invest in a wide range of distributed energy resources (DERs), such as smart thermostats, residential solar+battery systems and electric vehicles.
- In turn, utilities are needing to find new ways to engage with their customers and tap into the value their DERs can provide,” said William Collins, co-founder and CEO of LO3.
- “Our Pando platform is a next-generation approach to that opportunity, building on the natural strengths of blockchain technology to create a new kind of marketplace. We’re proud to launch an instance of Pando on the industry-leading Energy Web Chain.”
- “We envision an energy future in which grid operators, customers and customers’ DERs all work together as part of a low-carbon, decentralized and networked electricity system,” explained Jesse Morris, CCO of Energy Web.
- “Our Energy Web Decentralized Operating System (EW-DOS) of which the Energy Web Chain forms the foundation is the digital backbone for that energy future.
- Front-end platforms like LO3’s Pando bridge the gap between EW-DOS’s core digital infrastructure and utilities and their customers.
- We’re excited to welcome Pando onto the Energy Web Chain as LO3 and Energy Web continue to collaborate on the energy transition.”
Who Are LO3 Energy?
- The company was founded in 2015 to create community based energy generation and consumption markets and reshape the energy future.
- With more than 10 projects deployed on several continents with some of the worlds leading energy service providers, LO3 energy is at the ground level of transforming the way the energy providers engage their consumers and interact with energy.
- With headquarters in Portland, OR, United States, LO3 energy’s team are energy, technology and trading professionals with regional offices around the world.
- LO3 are using Local Energy Marketplaces to provide value to end-users and enterprise incumbent service providers and enable new business models and relationships around energy, energy attributes and energy data.
- Their meter technology measures a building’s energy production and communicates with the network to collectively manage energy.
- Their decentralized digital ledger verifies transactions automatically.
- As each new transaction is verified it’s added to the ledger. Their application program interface makes collaboration happen.
- It creates an open path that encourages participation and innovation from members across the network.
- Their technology works on the legacy energy grid already in place making it easy to establish a community of buildings that generate, store and trade energy locally.
Why Local Energy ?
The company combine industry expertise with advancements in technology to deliver a new frontier in energy. Below are just a few of the benefits of local energy.
- Engagement- Increase consumer engagement and/or acquisition by providing a feel-good local energy sharing solution with a compelling user experience.
- Resources- Provide smaller generators and consumers with a platform to sell/purchase environmental attributes breaking down historical barriers to entry.
- Partnerships- Connect with local regulators and municipalities to grow local energy benefits through a community-focused product.
- Responsiveness- Combine time variant rates and/or demand response programs with renewable power programs using a spot market for renewable energy.
Pando (Our Technology Platform)
- Pando enables utilities and retailers to introduce a unique energy marketplace today so all members of the community can trade energy in order to achieve both personal and community energy goals.
Pando Features
- Flexible Trading: Configure your marketplace to trade energy or energy attributes and enable your consumers to source renewables from their local community.
- Powerful Metrics: Analyze the market with customer and trade analytics, trading dynamics, offer subscriptions and other configurable analytics from your consumers in an easy-to-use portal.
- Personal Energy Management: Lead your customers on a new energy journey starting with valuable energy tools on a branded mobile application to learn about their energy profile and renewable engagement opportunities.
- Highly Extensible: Securely integrate to third-party software such as your billing system and energy devices to power your marketplace and streamline your customer’s experience.
- Simple Deployment: Launch a marketplace in 90 days with a team of experts who partner with you through every implementation stage from design collaboration to test and turn up and ongoing support.
- Secure & Scalable: Purpose built using Blockchain technology to ensure personal and system data security from day one and as trading transactions scale.
Why Pando ?
- Engage Customers: Lean into opportunities to learn about your customers, create raving fans and generate unprecedented loyalty and incremental growth opportunities.
- Grow Revenue & Profits: Pando is a platform that starts with your community and provides the foundation for you to create new energy products, services and solutions in the future and drive new revenue opportunities.
- One-Stop Energy Provider: With Pando you are empowered to create a community energy market that strengthens your relationships with your customers and helps position you as the primary choice for all of your consumer’s energy needs in an increasingly competitive market.
- Intel To Create Relevant Programs: We’ll provide you with simple tools to help you get to know your customers better from their energy preferences to what they’ll pay for renewables so you can create programs that are relevant to them with the choice they desire.
- Gain The Right Architecture: We partner with leading cloud companies so you can keep your data in your country with global back-ups or even host Pando in your own cloud. With our global experience and track record you can be assured that we will create the right architecture for your business needs.
First US Marketplace For Locally Produced Clean Energy Launched By LO3 Energy & Green Mountain Power Utilizing Pando
Shell To Deploy LO3’s Modified Ethereum Based Blockchain Platform In Energy Project
- LO3 Energy announced on July 10, 2019 major investments from corporate giants Shell Ventures and Sumitomo Corporation Group to support the global development of its blockchain based community energy networks.
- “The investment from Shell and Sumitomo represents a landmark moment for LO3 Energy as they begin to scale their blockchain based energy networks around the world,” said LO3 Energy Chief Innovation Officer/Founder Lawrence Orsini.
- “These investments will help us accelerate the roll-out of less carbon intensive microgrids which help all stakeholders benefit through distributed, decentralized and decarbonized local energy transactions and demand response energy management on a building-by-building level.”
- Kirk Coburn, Investment Director Shell Ventures said: “As we move into a less carbonized future, Shell aims to invest in innovative companies that will help enable the energy transition. LO3 Energy fits right in that space.”
- Japanese-based Sumitomo Corporation, a Fortune Global 500 company is one of the world’s top scale sōgō shōsha companies with a history of driving innovation through strategic investments in breakthrough research and technologies.
- Mr Norihiko Nonaka, Executive Officer of Sumitomo Corporation said “under drastic change and innovation in the power sector, especially rapid penetration of decentralized renewable energy we have the intention to expand our business in the new field created by LO3 Energy.
- We will work together and support LO3 Energy’s further growth which can realise a clean, environmentally sound community.
- LO3 has developed and deployed its blockchain based transactive energy platform across multiple markets and we are delighted to partner with our new investors to further scale this platform globally.”
Exploring EV Charging Opportunities
- LO3 partners with eMotorWerk’s JuiceNet EV charging platform to explore the activation of trading in local renewable energy between EV owners and local energy marketplaces.
