Gridustry creates PowerTrade, a Blockchain-based P2P platform for electricity exchange

The energy transition is rapidly changing the classic form of the energy market, while in combination with the digital transformation, energy data and market management platforms are now being created.

The digitization of markets and the scaling up of the range of data have led the energy sector to find sustainable applications in order to create a smart green ecosystem.

Renewable sources, the increase in electromobility and the demand for new forms of energy beyond oil and natural gas, have created the need for smart applications that will facilitate the distribution of energy between networks and at the same time will process data offering security, transparency, speed and usability. Greek research already has solutions, publications and ideas that can, under certain conditions, solve big issues.

The evaluation of ideas by Deep Science, level TRL1 /TRL2 (technology readiness level), their funding with “flash track” processes and their guidance, through a Venture Scientific Builder Tech Transfer model, for the creation of IP and deeptech Startup, is the next big step that comes in 2022.

Gridustry innovates by planning to release the first version of PowerTrade in 2022. PowerTrade is a platform for decentralized electricity distribution aiming at the purchase and sale and management of energy among producers – consumers and aims at the development of a distributed market for renewable energy sources (RES) with emphasis on Community energy systems and new RES ( Renewable Energy Sources) business models.

PowerTrade is deep tech science and offers a complete package for the purchase and sale of electricity and power contracts (PPAs), which will certify the authenticity of green energy through  issuing Renewable Energy Certificates (RECs).

The three co-founders of Gridustry, Christos Roumeliotis, Vasileios Balafas, Anastasios Garinis, are positive about the prospect of the platform and the creation of a new stock market type of energy market. They also stress that the most important thing for the company is to expand to other sectors, such as biomedicine, with the aim of creating sustainable solutions by exploiting the potential of digital transformation and new technologies.

Blockchain technology in the energy sector plays an important role in the management of distributed energy resources and provides companies with more cost-effective and effective solutions for recording and processing energy transaction data.

In addition, the energy sector has the largest number of blockchain projects implemented in energy and Research and Development investments. Energy decision makers and utilities have argued that blockchain will potentially be able to provide solutions to the challenges of the energy industry.

The German Energy Agency claims that blockchain technologies have the potential to improve the efficiency of today’s energy practices and processes, can accelerate the development of IoT platforms and digital applications, and can provide innovation in P2P energy transactions and decentralized production.

Through PowerTrade, Gridustry aspires to transform the energy sector by leading it towards renewable sources, and thus to a more sustainable and clean environment.

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