Power Ledger to bring blockchain-based renewable energy trading to a whole apartment block for the first time

Blockchain-enable renewable energy trading startup Power Ledger is applying its network technology to a whole apartment block for the first time, through a partnership with Yolk Property Group.

The Yolk Evermore development is located within White Gum Valley, about three kilometres from Fremantle city centre in Western Australia. Part of the government-funded Australian Renewable Energy Agency (ARENA) sustainable living innovation project, the building will be equipped with solar panels and battery storage technology.

Through the Power Ledger technology, residents in the 24 units will be able to monitor their energy use and trade excess renewable energy, ultimately reducing all residents’ power bills.

One of Australia’s most well-known blockchain startups, and considered a leader in the Australian cryptocurrency space, Perth-based Power Ledger raised $34 million in its initial coin offering in October, exceeding expectations for interest in its 350 million POWR tokens.

This deal with Yolk Property marks the first time a residential development in Australia has been built to use blockchain technology with solar-power trading between residents in mind.

However, it follows Power Ledger’s first commercial deployment of its blockchain-enabled peer-to-peer energy trading platform in Melbourne in March this year. Read more

Stephanie Palmer-Derrien - Startup Smart - 30 Jul 2018