SYSTEMIQ, a purpose-driven investment and advisory firm that aims to tackle system failures, is pleased to announce that it has invested in Electron, a UK-based energy tech company.
The world is moving towards a new energy system based increasingly on distributed, renewable-based energy generation and new patterns of consumption such as electric vehicles. This is creating the need for a new market infrastructure that can efficiently accommodate new devices, technologies and consumption models and enable greater system flexibility. Distributed ledger technology offers a collaborative, secure and efficient solution which can effectively meet these demands and displace the current analogue system. Electron is pioneering a unique distributed ledger solution which can build a transparent register of supply points, enable coordination and cooperation across multiple players, and facilitate valuable data exchange without the need for a central clearing mechanism.
Founded in 2015, Electron has already received numerous grants totalling £1m in grant funding from BEIS and Innovate UK, has partnered with the National Grid and Siemens, and recently announced the launch of a blockchain energy consortium to develop a flexibility trading platform in the UK market joined by EDF, Shell, Open Energi and other leading energy players.
SYSTEMIQ is looking forward to supporting Electron on their journey to continue expanding the team, commercialise their first products and expand overseas.
Irena Spazzapan, SYSTEMIQ Partner and Head of Energy, said: “SYSTEMIQ’s mission is to enable good disruptions through our work with corporates, investors and early stage companies. We believe in the energy system adopting increasing levels of electrification with a complex set of supply points, storage installations and new consumption points such as EVs. Centralised balancing systems are already struggling to effectively manage such complex national and regional power networks. Electron has developed a unique collaborative solution to this challenge, and we are excited to support the execution of our common vision in the UK and beyond.”
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