Major company OVO has invested in firm Electron through its recently launched technology division, Kaluza. The development was announced in an OVO blog post on March 12.
Kaluza — an intelligent grid technology company that provides software and hardware products to the energy sector — has reportedly made an investment in Electron, a London-based energy tech company that uses technology. The move aims to facilitate Electron’s deployment of distributed energy platforms.
Electron will purportedly use the proceeds of the investment to develop its energy platforms and systems, or its distributed flexibility marketplace. “The development of Electron’s shared asset register will be crucial to supporting the growth of Kaluza and deliver on its mission to securely connect all devices to an intelligent zero-carbon grid,” the post explains.
The new investment from OVO is reportedly the first since Mitsubishi a 20 percent stake in the firm. OVO is reportedly the energy supplier in the U.K.
has seen multiple applications in the energy sector globally. Earlier in March, petroleum refining firm Bangchak Corporation Public Co. Limited (BCP) a -based energy platform and commercial microgrid. The platform will support the basic electricity needs of an average BCP fuel station in addition to generating, distributing and storing energy for neighboring shopping mall tenants.
Last month, solar power supplier Kyocera with LO3 Energy to test -based virtual power plants (VPP) for improved energy distribution. The test will allow the companies to evaluate the the feasibility of VPPs that promote low-carbon use without fuels or carbon emissions based on distributed consensus network.
According to recent from Infoholic Research LLP, the global in energy utilities market is expected to grow by 60 percent by 2024. The market was assessed to be $210.4 million in 2018, and is expected to reach $3.4 billion by 2024. Infoholic Research predicts the growth at a compound annual growth rate of 59.4 percent from 2018 to 2024.
Published at Tue, 12 Mar 2019 22:07:08 +0000
