Blockchain : TEO (The Energy Origin) is the first application to migrate onto the Energy Web Chain

 By admin on September 19, 2019

Zug, Switzerland - September 19, 2019 - Today the Energy Web Foundation (EWF) and The Energy Origin (TEO), a startup incubated within French multinational electricity utility Engie, announced that TEO’s decentralized application (dApp) was the first to migrate onto the production Energy Web Chain. The TEO dApp leverages blockchain to improve the traceability and transparency of green energy, while also expanding the capabilities of supply-demand matching between renewable generators and corporate buyers, such as by choosing green energy on the basis of type of renewable energy, geographic distance from a given facility, and amount of carbon offsets.

The production Energy Web Chain officially launched in mid-June 2019. At the time, EWF was tracking roughly 17 dApps running on Energy Web test networks, spanning use cases such as renewable energy certificate markets, electric vehicle charging, financial settlement for grid flexibility services from distributed energy resources, and transactive energy. TEO originally built its dApp on Tobalaba, EWF’s original test network, before migrating to Volta, EWF’s second-generation test net. Then weeks after the Energy Web Chain launch, TEO migrated the dApp onto the live EW Chain.

“We are thrilled to host TEO as the first dApp now fully up and running on the Energy Web Chain,” said EWF chief technology officer Micha Roon. “After the launch of the Energy Web Chain earlier this year, this is the next important step toward blockchain technology delivering against its promise for the energy sector. As we see growing use of the EW Chain—and as companies like Engie make a vote of confidence in blockchain technology—we expect others to also migrate their dApps onto the live Chain and unlock business value via blockchain.”

TEO has already been busy working with its first customer, Air Products, to certify green energy from one wind farm and two hydro plants. Together they have been co-creating the user interface and expanded services for the blockchain-based platform. The TEO team is also expanding the offering to other countries beyond France.

“We are working hard to unlock this and other potential embedded in blockchain technology,” said Thierry Matthieu, co-founder of TEO. “As a founding EWF Affiliate, Engie is proud to have been with EWF in the beginning. It is only fitting that we now launch the first dApp on the live Energy Web Chain.”

Energy attribute certificates—including renewable energy certificates (RECs), guarantees of origin (GOs), and the International REC Standard (I-RECs)—have proven a very popular blockchain use case worldwide. Previous pilots and demonstrations running on Energy Web test networks have included PJM-EIS in North America, Iberdrola and Acciona in collaboration with FlexiDAO in Europe, and SP Group in Asia. Many are expected to also migrate their dApps onto and/or build new solutions directly on the Energy Web Chain in the wake of TEO’s announcement. Earlier this month, EWF and PTT in Thailand jointly announced a new blockchain-based renewable energy market for Southeast Asia.

 

About The Energy Origin (TEO) by Engie

The Energy Origin (TEO) is a startup incubated within Engie since September 2018 accompanying customers towards the 3 X 100% goals for the future of energy systems “100% renewables, 100% time, 100% local”. TEO focuses on turning energy data into clear, compelling and trustable products through the use of Blockchain Technology. TEO commercializes an innovative solution to certify green energy production and consumption allowing customers to choosewhere their green electricity comes from and trace it back to its origin.

 For more, visit https://theenergyorigin.com

 

About Energy Web Foundation

Energy Web Foundation (EWF) is a global, member-driven nonprofit accelerating a low-carbon, customer-centric electricity system by unleashing the potential of blockchain and decentralized technologies. EWF focuses on technology integration and development, co-creating standards and architectures, speeding adoption, and building community.

In mid-2019, EWF launched the Energy Web Chain, the world’s first enterprise-grade, open-source blockchain platform tailored to the sector’s regulatory, operational, and market needs. EWF also fostered the world’s largest energy blockchain ecosystem, comprising utilities, grid operators, renewable energy developers, corporate energy buyers, and others.

The Energy Web has become the industry’s leading energy blockchain partner and most-respected voice of authority on energy blockchain.

For more, visit https://energyweb.org.

 

Contacts

Peter Bronski, Energy Web Foundation
+1.201.575.5545 | [email protected]

Nicole Arnone, Inflection Point Agency for EWF
+1.770.856.7185 | [email protected]

Nicolas Leriche, The Energy Origin
+33 6 18 95 42 52 | [email protected]

Marion Ruddell, The Energy Origin
+33 6 69 08 65 24 | [email protected]

The Energy Web is an open-source, scalable blockchain platform specifically designed for the energy sector’s regulatory, operational, and market needs.

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