Arensis and Schneider Electric to Develop Smart Microgrid Blockchain for Entrade
Arensis Joins Hands with Schneider Electric to Develop Smart Microgrid Blockchain
Arensis, a decentralized energy systems provider, has joined hands with Schneider Electric, one of the biggest international microgrid development companies combining software, automation and energy, to develop a smart microgrid blockchain pilot program.
As part of the deal, the two firms will come together, presenting their skills to develop a blockchain Application Programming Interface (API) for a newly-formed company, ENTRADE IO, founded by Arensis’ CEO. The platform will be for the sale of renewable energy as well as off-grid project financing, particularly targeting remote areas across the world.
Smart Microgrid Systems to Launch in North America
The joint development of smart microgrid systems will launch in North America, but there are plans put in place to see it go on a global scale. The pilot program will explore integrated renewable energy using resources to build, monitor and operate the systems via augmented reality, AR.
The ETRADE IO platform is already underway in other regions of the world, helping projects in areas with greatest need such as Asia and Africa raise funds.
Speaking about the financing platform and the partnership, the CEO of Arensis, Julien Uhlig, said that:
“Our collaboration with Schneider Electric on the development of microgrids with turnkey solutions and project financing structures will bring our long-time vision to life…I believe that blockchain is the missing piece to help us bring our decentralized utility to all parts of the world. Smart contract ledgers, free flow of capital, dedicated token offerings for funding and direct donations will revolutionize the way small-scale, high social impact energy projects will be funded in the future. We are incredibly proud to partner with Schneider Electric, one of the largest automation companies in the world, to make the ENTRADE IO platform a reality.”
Direct Sale of Power Has Been Limited
Direct sale of power, more so on a micro-level, has always been limited because of high transaction costs, with the overall costs of operating a small-scale utility not being feasible. However, with the blockchain technology, combined with efficient demand-based power management, smart metering, AR-based forecasting and automation, it’s now possible to streamline everything using fully automated ledger processing and smart contracts.
The vice president of Schneider Electric for North America Operations, Mark Feasel, said that:
“Traditionally, 50 percent of time spent on maintenance involves finding information, with the remaining 50 percent devoted to actual intervention on the equipment for smart grid technologies…The system we are working on with Arensis allows users to find information faster, reduce operator error, and avoid machine downtime, with features such as giving users the ability to virtually open electrical cabinet doors and increase their overall efficiency.”