The use of this site and the content contained therein is governed by the Terms of Use. When you use this site you acknowledge that you have read the Terms of Use and that you accept and will be bound by the terms hereof and such terms as may be modified from time to time.
All text, graphics, audio, design and other works on the site are the copyrighted works of nasscom unless otherwise indicated. All rights reserved.
Content on the site is for personal use only and may be downloaded provided the material is kept intact and there is no violation of the copyrights, trademarks, and other proprietary rights. Any alteration of the material or use of the material contained in the site for any other purpose is a violation of the copyright of nasscom and / or its affiliates or associates or of its third-party information providers. This material cannot be copied, reproduced, republished, uploaded, posted, transmitted or distributed in any way for non-personal use without obtaining the prior permission from nasscom.
The nasscom Members login is for the reference of only registered nasscom Member Companies.
nasscom reserves the right to modify the terms of use of any service without any liability. nasscom reserves the right to take all measures necessary to prevent access to any service or termination of service if the terms of use are not complied with or are contravened or there is any violation of copyright, trademark or other proprietary right.
From time to time nasscom may supplement these terms of use with additional terms pertaining to specific content (additional terms). Such additional terms are hereby incorporated by reference into these Terms of Use.
Disclaimer
The Company information provided on the nasscom web site is as per data collected by companies. nasscom is not liable on the authenticity of such data.
nasscom has exercised due diligence in checking the correctness and authenticity of the information contained in the site, but nasscom or any of its affiliates or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this site. The information from or through this site is provided "as is" and all warranties express or implied of any kind, regarding any matter pertaining to any service or channel, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-infringement are disclaimed. nasscom and its affiliates and associates shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorised access to, alteration of, or use of information contained on the site. No representations, warranties or guarantees whatsoever are made as to the accuracy, adequacy, reliability, completeness, suitability or applicability of the information to a particular situation.
nasscom or its affiliates or associates or its employees do not provide any judgments or warranty in respect of the authenticity or correctness of the content of other services or sites to which links are provided. A link to another service or site is not an endorsement of any products or services on such site or the site.
The content provided is for information purposes alone and does not substitute for specific advice whether investment, legal, taxation or otherwise. nasscom disclaims all liability for damages caused by use of content on the site.
All responsibility and liability for any damages caused by downloading of any data is disclaimed.
nasscom reserves the right to modify, suspend / cancel, or discontinue any or all sections, or service at any time without notice.
For any grievances under the Information Technology Act 2000, please get in touch with Grievance Officer, Mr. Anirban Mandal at data-query@nasscom.in.
As the energy sector has been allegedly contributing 40% to global pollution as per research, the need of the hour is to cut down on the emission for meeting the Net Zero Emissions goals of 2050. But when we look at the energy market, the trust element is a major deterrent obstructing the use of green technology for energy production. For example, validating genuine carbon credit is hard when energy companies operating in developed countries exploit trust gaps in the distribution systems to sell fake carbon credits in developing economies.
Almost 8-15% energies get wasted at the time of distribution from traditional power plants to our home. Most of the retailers barely own any of the grid infrastructure, their forte is managing intermediary services like billing and metering usages. Still you pay the hefty bills.
If you want to read more on, why blockchain could be a great solution for the energy sector, read this article: Why must the energy sector embrace blockchain now?
Blockchains, if not completely solve, atleast improve a lot of these issues because of some of its inherent capabilities. It simplifies accountability, verifiability, governance, and transparency which could help fix the trust deficit and efficiency issues which has crippled the energy sector when it comes to promoting and using clean energy.
And this is something the energy companies acknowledge and they have started integrating blockchain to some of their applications.
In this blog, we shall see some of the best energy companies in blockchain reinventing the wheel in the energy sector to restore trust and streamline verifiable operations using it.
Top Energy Companies in blockchain Solving the Crisis in the Energy Sector
Accionia Introduces Renewable Energy Management using Blockchains
In comparison to coal, electricity production from renewable energy sources emits 90% to 99% less GreenHouse Gases. As energy production contributes 40% to the global CO2 emission, investors wish to undertake projects that have introduced renewable means to deal with this challenge, in order to remain ESG compliant.
Accionia, a Global Conglomerate has introduced GreenH2chain, which is the world’s first platform that uses blockchain technology to track green hydrogen. Through this blockchain powered energy platform, renewable energy management can be streamlined by inspecting, tracking and tracing green-hydrogen value chains in real-time. Using their state-of-the-art technology, the renewable hydrogen energy consumers can measure, document, and oversee their energy supply’s decarbonization process.
In addition to this, they can also track their CO2 emission cutting process which they can use to earn carbon credits and monetize the same on the secondary markets. This project is all set to introduce a green ecosystem in the Islands of Mallorca, Spain, which will be treated as POC to be replicated across other areas on the globe. The future will see more energy companies in blockchain further bolstering this concept.
SIEMENS Energy Trading Platform To Promote Smart-Grids
With more than 733 million people having no access to affordable, sustainable energy, the need of the hour is to make energy distribution simple. Smart-grids simplify the distribution of excessive energy by overcoming the complex process from power-plant generating electricity, transforming the step-up voltage for transmission, and the transmission lines receiving the electricity for transmission to consumers to simply consumers supplying the electricity to the smart-grids and monetizing their contribution and customers directly accessing the electricity from such smart-grids through the distribution lines.
SIEMENS, the renowned German tech conglomerate has introduced Pebbles, a Peer-to-Peer energy trading platform. They unveiled their POC back in 2018 and ever since then, many users have been extensively using the Peebles Energy Trading App. A deputy mayor in Günter Mögele village tested the POC using the app to sell electricity to others, which he excessively produces through his solar farms and other sources. Followed by this, many others in that village started using this for making gains through selling their excessive energy production.
Along with SIEMENS, Litions, as an energy company in blockchain has also spearheaded this campaign with their own P2P energy trading platform to help promote smart-grids and make cheap and clean energy available to all.
Shell Reintroducing SVF To Cut Global Emissions Using Blockchain
Aviation fuel is the next elephant in the room that economies are neglecting to acknowledge. With more than 8.2 billion people traveling by airplanes, the core emission levels are going to touch such heights that the aviation sector could be the 10th biggest contributor to air pollution.
It is as huge as a single country and Shell has proposed a partnership with Energy Web using the blockchain technology to track and authenticate those startups and businesses which are using the hydrogen fuels in aviation which have hydrogen elements or termed as Sustainable Aviation Fuel (SVF). Since Hydrogen fuels are less polluting, Shell has partnered with Accenture, and Amex GBT to launch blockchain-powered digital book-and-claim solutions aimed at amplifying the reach of sustainable aviation fuel (SAF).
The platform tracks and verifies the supply chain for the use of Hydrogen fuels and rewards the consumers for becoming a part of the green initiative. Shell has been instrumental towards introducing more customized blockchain solutions as an energy company in blockchain to fill up the gaps in the energy sector.
Power Ledger Introducing Customizing In Energy Usage Through Blockchain
Personalization is ending up as a new found concept in the energy sector. Now, what do you mean by that if you ask? Well, lately there has been an influx of new customers as per Mackinsey’s research who are looking for customized energy solutions. Now, energy enterprises are facing a status quo with respect to keeping the old customers stick to their brands. An Australian company, ‘Power Ledger’ has introduced the option of choosing the right renewable energy source as per their preferences. They have used the blockchain technology to help validate the data for the consumers.
So, the customers can now choose which energy source they want like wind, solar or water and accordingly they can buy from the supply. The use of blockchains have simplified verifiability, provenance and tracking. In this way, the customer churning could be mitigated using Power Ledger platform where the customers can quickly verify the source and swap supply from the same platform as and when required as per their preference.
SAP Using Blockchains to Sell New Business Models Through Its identity Initiative
Another key component of the energy sector is to identify key opportunistic trends. Since introduction of blockchain to energy is very new, it becomes very hard for companies in the energy sector to introduce, identify and implement new concepts to their advantage.
WIPRO and SAP have joined hands to introduce the GETDS or Green Energy Tracking and Distribution System. As per this program, energy retailers and Distribution Service Organizations have the provision to introduce and sell new business models in the energy sector for prosumers. Under this initiative, WIPRO and SAP will be helping in identifying key business areas which can be harnessed for the growth of the energy sector. They will be forming a duo of energy Companies in Blockchain to help new ideas and models evolve in the energy sector.
WePower Easing the Roads To Set-Up Clean Energy Production Units
Small players in the energy sectors have to face significant hurdles when they want to enter the green energy market because of funding constraints. However, going by the data, the cost of producing electricity through renewable energy has dipped when compared to fossil fuels. WePower has entered the space since banks have already turned resilient to lending loans to businesses which are looking forward to investment for producing clean/green energy because of subsidy issues.
Through the WePower platform, the company has allowed private investors to fund their green initiative projects and since they are using blockchains, everything remains transparent and verifiable. Furthermore, the investors can claim electricity supply at a fraction of cost in comparison to a traditional supplier when using the WePower ng production unit for electricity.
Dr. Ravi Chamria is co-founder CEO of Zeeve Inc, an Enterprise Blockchain company. He has an experience of 18+ years in IT consulting spanning across Fintech, InsureTech, Supply Chain and eCommerce. He is an executive MBA from IIM, Lucknow and a prolific speaker on emerging technologies like Blockchain, IoT and AI/ML.
Passionate About: Blockchain, Supply Chain Management, Digital Lending, Digital Payments, AI/ML, IoT
That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.
Zeeve is an enterprise-grade Blockchain Infrastructure Automation Platform. Join the growing list of clients that trust us with their Blockchain initiatives
In the rapidly evolving digital landscape, the demand for seamless, secure, and user-friendly identity verification processes has never been greater. Know Your Customer (KYC) protocols are essential for financial institutions to comply with…
In the realm of digital transformation, public blockchain development services stand out as a beacon of innovation, offering unparalleled transparency, decentralization, and security. Unlike private blockchains that restrict access to authorized…
In recent years, blockchain technology has emerged as a disruptive force in a variety of industries, offering increased transactional security, transparency, and efficiency. One area where blockchain has enormous potential is freight claim…
The advancement of inventions that led to Web3 and blockchain has greatly changed the business environment. As stated by Forbes market research, in 2023, the total blockchain market is estimated to be around USD 170 billion; however, by 2030, it is…
In the dynamic world of cryptocurrencies, holding digital assets requires a robust and reliable solution, that is, a crypto wallet.
With the increasing number of cryptocurrencies, the need for efficient crypto wallet solutions has been greater than…
Cryptocurrency has emerged as a new asset class, particularly in light of its quick spike in value earlier this year. For the first time, the total value of the cryptocurrency market has surpassed $2 trillion.
The cryptocurrency realm is…
