English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 19 January 2018, 11:00 HKT/SGT
Share:
        

Source: TEPCO / Electron
TEPCO looks to the transformative potential of blockchain by investing in Electron, a UK energy technology company
Electron aims to transform the energy infrastructure using blockchain technology

LONDON, Jan 19, 2018 - (JCN Newswire) - Tokyo Electric Power Company Holdings, Inc. (TEPCO) announced today that it closed an early-stage bridging round investment in Electron at the end of 2017.

Electron is a London-based technology company harnessing blockchain technology to establish more efficient, flexible, and reliable systems for the energy sector. Together, they will explore the potential to change the existing centralised structures to decentralised systems in energy transactions by using blockchain.

"We are excited to work with Electron to explore and obtain additional know-how on blockchain that has the potential to significantly impact the energy market," said Shin-ichiro Kengaku, Managing Executive Officer and Chief of Global Innovation & Investments at TEPCO. "We believe it is very important to continuously seek new opportunities and create new value for society."

Paul Ellis, CEO of Electron said, "In the next phase of energy transformation, millions of new assets will be joining energy networks at both the transmission and distribution levels. There is a huge need to create a robust shared infrastructure that can identify and record the properties of these assets - this can be underpinned by appropriate blockchain technologies. TEPCO is an energy industry leader for innovation in Japan, so we are delighted to partner with them to explore expanding our service offerings in other markets."

About TEPCO

Tokyo Electric Power Company Holdings, Inc. (TSE: 9501), headquartered in Tokyo, Japan, is the largest utility in Japan serving millions of homes and businesses. Worldwide the company has more than 34 subsidiaries and 32 affiliates in 8 countries and employs approximately 42,060 people. Consolidated revenue for the fiscal year ending March 31, 2017, totalled 5.3 trillion Japanese yen. The company was established in 1951 and is listed on the First Section of the Tokyo Stock Exchange. For more information, please visit http://www.tepco.co.jp/en/corpinfo/index-e.html

Contact:
TEPCO
Media Communications Group,
Corporate Communications Office
+81 3 6373 1111 (Switchboard)
https://www4.tepco.co.jp/en/other/contact/media-e.html

About Electron

Electron is a London-based tech company harnessing blockchain to design new platforms and services for a decarbonising, digitising, decentralising and democratising energy sector. Recognising the potential for these new technologies to transform the shared virtual infrastructure of the grid, Electron is taking a top down, collaborative approach to platform development and working with various key stakeholders in the energy industry. For more information, please visit www.electron.org.uk

Information:
ELECTRON
Oenone Scott,
Communications Manager
+44 20 7096 1519
[email protected]

Media enquiries:
Madano
Oliver Buckley
Michael Zdanowski
+44 20 7593 4000
[email protected]
[email protected]


Topic: Press release summary
Sectors: Energy, Environment, Alt. Energy, FinTech/Chains, Venture Capital
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
Specially-Designed Toyota "Tokyo 2020 Version" e-Palette to Provide Automated Mobility to Athletes  
Oct 23, 2019 14:02 HKT/SGT
Toyota to Welcome Visitors at 'Mobility Theme Park"  
Oct 23, 2019 13:31 HKT/SGT
Lexus Presents its Vision of Future Electrification with the World Premiere of the LF-30 Electrified Concept  
Oct 23, 2019 13:04 HKT/SGT
AVIA hosts the Asia Video Summit in Singapore amidst a time of seismic change, competition and consolidation  
Oct 23, 2019 13:00 HKT/SGT
Mazda Launches Updated CX-8 in Japan  
Oct 23, 2019 11:56 HKT/SGT
Mazda Unveils Mazda MX-30, First Mass-Production EV at Tokyo Motor Show  
Oct 23, 2019 11:34 HKT/SGT
World Premieres of MITSUBISHI MOTORS MI-TECH CONCEPT Buggy-Type Electrified SUV Concept Car and SUPER HEIGHT K-WAGON CONCEPT Kei Car at Tokyo Motor Show 2019  
Oct 23, 2019 11:09 HKT/SGT
Honda Unveils the World Premiere of All-new Fit at the 46th Tokyo Motor Show 2019  
Oct 23, 2019 10:29 HKT/SGT
Honda to Evolve its Original High-Efficiency Electrification Technologies as "Honda e:TECHNOLOGY"  
Oct 23, 2019 10:24 HKT/SGT
Biogen Plans Regulatory Filing for Aducanumab in Alzheimer's Disease Based on New Analysis of Larger Dataset from Phase 3 Studies  
Oct 23, 2019 10:13 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6653 1210 | Tokyo: +81 3 6859 8575