eMotorWerks and LO3 Energy Partner on Local Energy Trading Platform Between Electric Vehicles and Renewable Microgrid Projects

 

• The project will connect eMotorWerks’ JuiceNet EV charging platform to LO3’s energy platform Exergy, activating the trading of local renewable energy between EV owners and local energy marketplaces
• The aim is to test grid balancing use cases that combine demand from charging EVs with the local supply of green, affordable energy

San Carlos, CA — December 5th, 2018 — eMotorWerks, a subsidiary of the Enel Group’s new advanced energy services business line Enel X, and LO3 Energy, an innovative company that facilitates local energy marketplaces through advanced digital services, have launched a partnership to use JuiceNet’s smart-grid control technology for a series of microgrid + EVs projects with the joint goal of exploring high-value use cases for local energy markets.

An initial project will connect the JuiceNet EV charging platform to one of LO3’s transactive energy marketplaces, activating local renewable energy to be traded between the microgrid and electric vehicle owners. LO3’s Exergy™ platform underpins the data exchange that enables price signals and peer-to-peer transactions while the eMotorWerks JuiceNet platform enables control over local energy flows, matching in real time and in small groups the local demand from EVs and households with the local supply of green, affordable energy.

“Beyond offering JuiceNet technology as a way for residents to manage charging more efficiently, projects such as our virtual battery in California, and now this partnership with LO3, showcase how powerful smart charging can be for grid services at scales ranging from hyper-local to state and national levels,” said Vincent Schachter, Senior Vice President, Energy Services of eMotorWerks. “We are looking forward to showcasing how JuiceNet can integrate with LO3’s platform to make local transactions smarter, quicker and more useful for future services.”

LO3 Energy and eMotorWerks view this project as a key component of a broad service portfolio for utilities, giving consumers a choice in how they consume energy. This includes when and what type of resources are used to charge EVs, as well as when and how EVs can be leveraged as energy resources for local grid balancing through demand response. The targets of this program are price-responsive consumers with a flexible charging schedule who would like to leverage EV flexibility to save on their energy bills, or EV fleet managers who want to ensure predictable charging costs. In today’s increasingly decentralized energy environment, utilities and grid operators are facing increased challenges to ensure a reliable, balanced and clean electric grid. Local energy trading platforms are taking a foothold as a scalable and cost-effective way to enable flexibility management.

“As utility business models adapt from evolving regulations and competition, new products and services supporting EVs allow utilities to amplify and reinvigorate their direct customer relationship,” said Lawrence Orsini, CEO of LO3 Energy, “EV charging adds another option to efficiently match local energy supply and demand, and such project’s results could open the door to more transactions among other microgrid participants and EV drivers.”

eMotorWerks’ JuiceNet platform allows users to remotely monitor and schedule their EV charging for the most cost-effective times of the day and earn rewards for providing a variety of energy services, both locally and through energy markets. JuiceNet also allows users to schedule EV charging when surplus electricity from the local, domestic, solar rooftop system is available for grid export or at times when high levels of renewable energy generation are available. When integrated into a community microgrid, these functions can become a part of the transactive energy solution for maximizing choice for energy consumers.

About eMotorWerks:

Founded in 2010, and based in the San Francisco Bay Area, eMotorWerks is a subsidiary of the Enel Group’s new advanced energy services business line Enel X, revolutionizing the EV charging market with its JuiceNet-enabled smart grid EV charging solutions. JuiceNet-enabled devices, such as the company’s connected, high-power JuiceBox charging stations, maximize charging efficiency and speed while providing EV owners intuitive control and visibility. By shifting when and how much electricity JuiceNet-enabled stations draw from the grid, eMotorWerks helps utilities and grid operators reduce electricity costs, ease grid congestion, and maximize the use of solar and wind power. eMotorWerks is growing the EV charging ecosystem by partnering with EVSE and EV manufacturers to provide an extensive cloud platform for grid balancing and optimization for utilities. For more information on eMotorWerks, please visit www.emotorwerks.com. Follow us on Twitter (@eMotorWerks), on LinkedIn and Facebook.

About LO3 Energy:

LO3 Energy, a Brooklyn, NY based company, is building a blockchain-based platform to enable decentralized business models and innovative technologies related to energy, cleantech and utility systems. The LO3 team has deep expertise in design, architecture, development, prototyping, and testing of cutting-edge distributed energy, computing and peer-to-peer distributed consensus networks. The company builds blockchain-based tools and projects to support and accelerate the proliferation of distributed energy, utilities and computation sharing economy of the future. For more information about blockchain for energy, visit www.LO3energy.com.

Exergy has secured investment from some key energy and crypto industry players during its private sale – here CEO Lawrence Orsini explains why these strategic supporters put the token on the road to success.

The XRG token is not a traditional crypto token and this is not a traditional ICO – which is why securing good quality early-stage strategic investors that share our long-term vision and bring added value to the Exergy platform has been so crucial.

Exergy is all about freeing energy data created in our neighborhoods, commercial parks and farms. Using blockchain, that data is securely transferred across a distributed network to be cryptographically housed for others to innovate upon. But first, consumers need to own their data, and willingly share it to ultimately be rewarded. We’re creating a global standard for energy data and a platform that will allow consumers to own and control their data. The XRG token is the key to accessing that network.

Demand for the XRG token is driven by its function – which is to grant permission to the Exergy network. Exergy uses a set of energy standards to capture granular grid edge data in a secure and decentralized way. The more people who purchase Exergy tokens and put them to use on the platform, the more this standard will be adopted and the greater the demand for the token will be.

Having Centrica, EPEX SPOT, Braemar Energy Ventures and Alphablock put money behind Exergy and commit to supporting the development of the platform is not only extremely satisfying but also sends a strong signal about Exergy’s credentials.

All of these initial investors understand that Exergy is a global play with long-term impacts and ramifications for economies, deployment and carbon reductions around the planet.The focus is not about making a quick buck. It’s about investing in a limited issue token that will be critical for the strategic growth of Exergy; ultimately leading it to become the globally recognized platform for energy data.

What is most important for me is the industry relevance of the companies that have invested and those who are on the verge of doing so.The fact that Centrica, one of the oldest and most ‘traditional’ utilities, is looking at the adoption of Exergy as an attractive and viable new business model sends a very strong message to the energy industry.

Data is the fuel for the grid of the future and Exergy offers a regulatorily compliant way to create durable value for all stakeholders from utilities to consumers by collecting, securing and providing a choice in the sharing of that data. That is a really important component of what we’re doing here. All utilities will eventually be forced by regulators to unlock that data. Exergy gives them an opportunity to be more in control of that process – which is why we are also in negotiations with other utilities as well.

But utilities are not the most interesting of prospective investors.

We’re in discussions with some of the big manufacturers of home and office equipment because they actually have a lot more data than a utility within their appliances. The XRG token gives them an opportunity to unlock new value streams from things they already sell every day and from the millions of products they have already sold. This is a big opportunity for them.

And on the crypto side, commitment from Alphablock, from an investment, advisory and project development perspective, shows that this is a good and viable use case for blockchain.

As energy networks inevitably move from a centralized business model to one in which distributed renewable resources, storage, EVs and smart home building management systems need to talk to each other, they will need to share data. This platform will provide standards and protocols that unlock data that every utility grid and every smart device produces. And every single market on the planet will have to unlock that data if we are going to get to a truly distributed energy system.

We’re talking about running infrastructure with this data, with Exergy, and what’s really exciting is that we’re now engaging some of the largest utilities and manufacturers of energy consuming devices to do that.

Anything that plugs into a wall produces the kind of data we will be putting on the Exergy platform. And the world has a lot of plugs…

Energy Giants and Crypto Leaders Endorse Blockchain Energy Network, Exergy™, with Significant Financial Commitment

BROOKLYN — October 29, 2018 — LO3 Energy Inc. today announced that Exergy™, a global blockchain standard for energy data, has secured investments from four key players in the utilities and crypto industries.

The blockchain-based platform will provide a secure way to log, standardize, store and share critical elements of data in the energy ecosystem. As the world moves toward a future of distributed energy resources, the platform removes barriers not only toward the decentralization of energy but the democratization of energy data.

The Exergy standard, which will utilize a cryptographic token called Exergy (XRG), has secured commitments from European Power Exchange EPEX SPOT, blockchain investment firm Alphablock Investments, as well as existing investors global energy and services company Centrica and major energy technology venture capital investor Braemar Energy Ventures.

Exergy founder Lawrence Orsini said: “The move to renewables represents one of the most significant potential future use cases for blockchain technology.”

“We are developing the Exergy platform to create a global standard by which the world’s energy data can be accessed, and we are delighted to see the belief in that vision demonstrated by these investments,” Orsini said.

In addition to the investments, Exergy is announcing its newest technology partner Bitfury, a respected full-service blockchain technology company, that is committed to accelerate the development and implementation of the Exergy network and XRG token.

Bitfury co-founder and CEO Valery Vavilov said, “We look forward to helping Exergy develop its platform and network with our award-winning Exonum blockchain engineering team. The energy industry, and energy data in particular, is poised to benefit strongly from the integration of blockchain and crypto technologies.”

The backing from Alphablock indicates the crypto world is taking note of the transformative potential of Exergy.

Alphablock partner and advisor to Exergy, Richard Li said, “Our aim as a crypto investment firm is to find and support the most innovative projects that are harnessing the disruptive nature of blockchain technology.”

“Exergy is a hugely exciting opportunity to radically change an industry, and LO3 Energy’s current projects and future pipeline for the platform roll-out gives us strong belief that its potential will be fulfilled.”

REVOLUTION FOR THE ENERGY INDUSTRY

The commitments from Centrica, EPEX SPOT and Braemar Energy Ventures, all leading companies in the energy sector, represents a key turning point for the energy industry and its support for blockchain technology.

The investment from Centrica has been made by its innovations arm, established to identify and accelerate new technology and ideas for homes and businesses.

Mike D’Aurizio, Ventures investment manager for Centrica Innovations, said, “The energy industry’s current information systems are ill-equipped to run the decentralized, distributed grid of the future. We strongly believe in the Exergy vision that Lawrence and his team at LO3 Energy have for driving the industry forward.”

“The XRG token represents an opportunity for us as an energy and services company to continue our commitment to adding value for our customers while opening up our business model to accommodate and optimize the new clean energy solutions of the future.”

Braemar Energy Ventures’, Jiong Ma, senior partner said, “We led a Series A investment in LO3 Energy and continued to have confidence in its founders and the leadership team. We believe that the Exergy marketplace is on the path to becoming the backbone for a decentralized energy future, and LO3 Energy is the right people to execute on that vision.”

“As the Exergy platform expands, we believe XRG tokens will be needed to permission the contribution of and access to any data it collects.”

EPEX SPOT’s Chief Operating Officer Jonas Törnquist said, “Every consumers’ relationship to energy will change fundamentally in tomorrow’s decentralized energy system. We are convinced that Exergy is a great step toward a fair participation to a transactive and cleaner energy market, where transparency and resiliency will be highly key. We are thrilled to take part in this journey, bring our expertise and experience as European power spot marketplace and help LO3 and the other partners co-shaping the Exergy use cases.”

ENDS

About Exergy
Exergy™ is a distributed ledger system combining software and hardware layers, a token system for permitting data, and an architecture that advances market design and technology in tandem. Through our blockchain software, Exergy creates secure data pathways for decentralized markets, peer-to-peer transactions, predictive analytics, micro-hedging and other applications that are only beginning to be explored. For more information visit exergy.energy.

About LO3 Energy
LO3 Energy, a Brooklyn, NY based company, is building a platform to enable decentralized business models and innovative technologies related to energy, cleantech and utility systems. The LO3 team has deep expertise in design, architecture, development, prototyping, and testing of cutting-edge distributed energy, computing and peer-to-peer distributed consensus networks. The company builds tools and develops projects to support and accelerate the proliferation of distributed energy, utilities and computation sharing economy of the future. More information at www.LO3energy.com.

MEDIA CONTACT:
Melanie Adamson, VP, Marketing
Tel: +1 (503) 789-8455
Email: madamson@LO3energy.com

Supplemental resources:
Advisor Richard Li, https://youtu.be/nIib6qSBe8g
Advisor Don Tapscott, https://youtu.be/cWpYfqK9bH0