Innovative next-generation electricity retailer SpotEnergy announces key partnerships with ANU researchers and a leading finance provider

Highlights

  • Agreement signed with ANU researchers to undertake joint research into valuation of Utility Tokens and blockchain consensus solutions
  • Partnership with leading Australian asset financing house to finance installation of SpotEnergy generation capacity over commercial and government property, and to provide highly competitive solar generation packages for commercial and household customers
  • Signatory to the United Nations Principles of Responsible Investment

Ground-breaking energy market venture SpotEnergy has partnered with researchers from The Australian National University and a leading Australian asset financing house to add intellectual grunt and commercial momentum to its market offering.

SpotEnergy will initially be a next-generation electricity retailer, aiming to deliver substantial savings to businesses and households. The Spot Exchange is energy source neutral, embracing all forms of generation. Customers can choose the source of their energy – solar, wind, gas or coal – in any proportion they like. At the same time, it will support the transition to renewable energy by offering informed choice and ready-made reporting mechanisms.

The easy to use SpotEnergy App will also allow consumers to either sit back and let SpotEnergy do the work; or to take full control of their energy consumption, even to actively trade energy. Crucially SpotEnergy “plugs” directly into the existing physical infrastructure and regulatory environment; and consumers do not need to change any habits to make the switch.

Delivering cheaper electricity through technology and transparency

By managing a supply-and-demand-based, transparent and secure energy trading market, SpotEnergy will remove unnecessary costs and connect households and businesses with an integrated network of suppliers. Businesses and government users also gain ready-made reporting capability to plan, track and promote their usage of renewable energy.

As its market operations will be secured by state of the art blockchain technology utilising ‘smart contracts’, SpotEnergy creates unprecedented options for investment in green energy projects and allows consumers to transparently choose their own energy sources.

SpotEnergy’s platform will offer fundamental cost advantages that enable much lower retail energy prices than the traditional incumbents; including:

  •  Lower variable costs – transactions, billing and settlement
  • Frictionless access to wholesale markets
  • Providing transparent and efficient markets
  • Enabling demand response activation through the SpotApp
  • Lower marketing expenses through reduced customer churn
  • Elimination of bad debt risk – enabling customers to pay for energy in real-time

Partnership with ANU researchers lays foundation for creation of unique energy blockchain solution

SpotEnergy is co-funding a pilot project with HALO Technologies and researchers from the ANU College of Business and Economics to commence a broader exploration of cryptographic assets and the efficiencies blockchain can unlock for financial contracts. The work will focus on valuation of Utility Tokens via swaps and a probabilistic analysis of blockchain consensus solutions. These results can be applied to the electricity market and will lay the foundation for further research and future
innovation.

“SpotEnergy is designed to be investable and scalable. We will drive growth and adoption by delivering cheaper electricity; rewarding ‘aggregators’ for building the customer base; and will deliver choice, transparency and ready-made reporting through smart contracts.” said Matt Roberts, CEO of SpotEnergy.

“We are delighted to have been approved as a signatory to the United Nations Principles of Responsible Investment (UNPRI). SpotEnergy offers an ethical and responsible investment opportunity, consistent with the goal of aiding investment in renewable generation,” he added.

End to end ‘prosumer’ installation packages with competitive financing

In addition, SpotEnergy has partnered with one of Australia’s leading asset financing providers to offer installation of solar panels, smart meters and inverters at no up-front cost. The deal will provide large organisations and households with hassle-free installation, competitive financing and the ability to sell any surplus generation back into the grid at a profit.

SpotEnergy has launched a capital raise via the issuance of Convertible Note instrument and is in advanced discussions with several well-known businesses in the property, retail and automotive industries seeking to sign-on as customers, prosumers and investors.

 

About SpotEnergy

SpotEnergy – cheaper, cleaner energy for households, businesses and governments; and better value for all consumers.

SpotEnergy will deliver a transparent global decentralized energy exchange to enable consumers, businesses and governments to buy and sell energy at leading market rates. The SpotEnergy exchange is energy source neutral and designed to support the transition towards renewable energy and decentralization of electricity supply.

SpotEnergy is a pro-renewable energy business and will invest in renewable projects and trade carbon credits.

Utilizing blockchain technology, SpotEnergy aims to create a stable, transparent energy market by empowering consumers and generators with real informed choice and delivering a lower-cost business model.

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