Top 10: Energy Blockchain Technologies
Blockchain technology is being embraced in the energy sector to improve efficiency, enable decentralised trading and increase transparency and security.
As energy generation becomes more distributed, blockchain technology can allow small scale producers to trade energy locally and securely which could lead to grid innovation.
Blockchain aims to make the energy sector more transparent, which can help track the origin of renewable energy and ensure accurate record keeping for renewable energy certificates and carbon credits.
Energy Digital has ranked 10 of the top companies that are using blockchain technologies to transform the energy sector.
10. E.ON
CEO: Leonhard Birnbaum
Headquarters: Essen, Germany
Founded: 2000
Enerjisa, owned by E.ON, says it helps prove that electricity that people consume around the world is produced from renewable sources and offsets Scope 2 emissions through its renewable energy certificates.
The company says that its YEK-G certification system is secured using blockchain technology that provides a transparent and reliable way to verify that the energy is coming from a reliable source.
This certification can be used to prove that consumers are obtaining energy from renewable sources.
9. Acciona Energy
CEO: Rafael Mateo Alcalá
Headquarters: Madrid, Spain
Founded: 1997
Acciona says it is pioneering the use of blockchain in the energy sector.
The company uses blockchain technology as a way to certify the origins of its renewable energy and storage processes.
This technology will enable the energy sector to certify the protection of source codes in in-house applications.
It uses blockchain to ensure traceability of renewable energy sources to customers in real time.
8. AWS
CEO: Matt Garman
Headquarters: Washington, United States
Founded: 2002
AWS is using blockchain to reduce the environmental impacts of supply chains.
Amazon Managed Blockchain is a managed service that aims to make managing scalable blockchain networks simple, using open source frameworks such as Hyperledger Fabric and Ethereum.
Its technology aims to optimise transportation routes and reduce inefficiencies in the supply chain, alongside tracking energy consumption and identifying areas where energy is being wasted and encouraging companies to adopt more sustainable practices.
7. Schneider Electric
CEO: Olivier Blum
Headquarters: Rueil-Malmaison, France
Founded: 1836
Schneider Electric has partnered with software company Arensis to develop smart microgrids.
Together the companies have piloted a blockchain Application Programme Interface platform aimed to provide off grid project financing and the sale of renewable energy in remote areas around the world.
Schneider Electric says that blockchain can enhance energy attribute certificates, creating a verifiable chain of custody for renewable energy attributes, ensuring energy providers receive credit for the clean energy generated.
6. IBM
CEO: Arvind Krishna
Headquarters: New York, United States
Founded: 1911
IBM says that blockchain can be used to solve challenges in decarbonisation and decentralisation of energy at scale.
The company has developed a solution to tokenise energy certificates using the Hyperledger Fabric DLT framework.
The technology, enerT, aims to make energy certificate trading more efficient and cost effective by creating trusted, tokenised units.
These units are able to store details about energy generation and CO₂ emissions.
5. Enel
CEO: Flavio Cattaneo
Headquarters: Rome, Italy
Founded: 1962
Enel has partnered with Conio in the efforts to develop a product using blockchain for the fractional ownership of solar panels and wind farms on the Algorand blockchain.
The programme allows Italian citizens to virtually self produce renewable energy from fractions of utility scale solar panels and windfarms and use the power it generates to reduce electricity bills.
Enel says that the blockchain allows this to be done transparently with energy production and value tracked on the chain in real time.
Christian Miccoli, CEO and Founder of Conio, says: “What we have done is design the wallet in a way that it automatically handles all the complexities of blockchain technology.
“This means that the Algo tokens that you need in your wallet to pay the transaction fees are completely hidden from the user. They don't need to understand blockchain and crypto at all.”
4. Engie
CEO: Catherine MacGregor
Headquarters: Paris, France
Founded: 2008
Engie aims to accelerate energy access for Sub-Saharan Africa through its Energy Access and the Energy Web Foundation.
The company aims to improve sustainable electrification in Africa through the use of cryptocurrency and blockchain technology.
Etienne Gehain, Digital Innovation Officer at ENGIE, says: “This decentralised mechanism is truly innovative, because for the first time, it is linking token value, which tends to be highly speculative, to a specific industrial activity.
“Based on the crowdfunding principle, it is also a win-win situation, since equipment users benefit from a preferential interest rate and lenders are sure of their repayment, with ENGIE Energy Access as a guarantor.”
3. Shell
CEO: Wael Sawan
Headquarters: London
Founded: 1907
Shell is a founding member of the Energy Web that develops public, open source decentralised technologies with the aim to accelerate the energy transition.
The technology aims to improve transparency on renewable electricity consumption by using blockchain to match energy production and consumption on a half-hourly basis along the energy supply chan.
Sabine Brink, Principle, Climate Tech at Shell Ventures, says: “We have a lot more players entering the energy market, as well as a different mix of low-carbon energy products.
“This requires global orchestration of energy systems on large scales to ensure that we reach net zero across the board.
“On top of that, transparency, auditability and accountability will be key.
“Blockchain as a decentralised network technology makes a lot of sense to underpin this.”
2. Iberdrola
CEO: Pedro Azagra
Headquarters: Bilbao, Spain
Founded: 1992
Iberdrola has a project using blockchains to guarantee that energy supplied and consumed is 100% renewable.
This technology will manage energy in real time, linking plants where electricity is produced to specific points of consumption which allows the source of energy to be traced.
Iberdrola says that its use of blockchain will help accelerate decarbonisation by using the tech to guarantee that energy supplied to consumers is 100% renewable
The initiative was first trialled and gained success at Kutxabank, where windfarms and a hydroelectric plant supplied clean energy to the company.
Iberdrola has also participated in various other initiatives such as trying to use blockchain-based transactions in the wholesale energy and natural gas markets.
This initiative allows for peer-peer transitions to be carried out without needing a link between, with agents buying and selling energy directly.
1. Siemens
CEO: Roland Busch
Headquarters: Munich, Germany
Founded: 1847
Siemens Cre8Ventures has partnered with Minima blockchain to use its digital twin marketplace for security and sovereignty goals in energy sector start ups.
This technology enables IoT equipment to run a full node to provide fully decentralised security and trustless verification for several markets.
The partnership aims to bring AI capabilities, data integrity and decentralised trust mechanisms which will address unmet needs in the energy sector such as robotics, automotive and healthcare equipment.
The technology hopes to protect smart grids, renewable energy sources and energy storage systems from cyber attacks alongside optimising grid management using secure blockchain smart contracts and enhancing the reliability of energy infrastructure through real time monitoring.
Carson Bradbury, Director EU Chips Act and Co-Founder of Cre8Ventures at Siemens, says: “This partnership not only strengthens industry-specific security solutions but also supports the sovereignty goals of the EU Chips Act, ensuring European technology independence and leadership in next-generation digital ecosystems.
“We are thrilled to embark on this journey with Minima and look forward to shaping the future of secure, data-driven ecosystems across Europe.”
