Energy Web Foundation Adds 12 Major Global Energy Companies as Affiliates; Raises $14 Million in Ongoing Second Funding Round

05 Feb 2018

12 major global energy and blockchain companies alongside 15 additional strategic partners have joined the Energy Web Foundation (EWF) as affiliates since the start of Round B fundraising in August 2017.

The new affiliates include leading companies AGL (AU), Duke Energy (US), Eandis (BE), Exelon (US), Eneco (NL), E.ON (GE), Innogy (DE), PG&E (US), PTT (TH), SB Energy Corp (JP), Swisspower (CH) and Wipro (IN). Their EWF affiliation reinforces the industry’s support for the development of the first open, permissioned blockchain operating in the energy sector

With these contributions, EWF has thus far raised $17 M USD from a total of 37 affiliates, expanding the initial circle of ten founding affiliates formed by Centrica, Elia, Engie, Sempra Energy, Shell, SP Group, Statoil, STEDIN, TEPCO and TWL. Round B will continue through May 2018.

“Joining the Energy Web Foundation is a further step in the digitization of the E.ON Group. Blockchain technology has the potential to disrupt the way energy markets operate today. With this open accessible test platform we can start to develop future market standards and build reorganized, more efficient ecosystems,” said Dr. Frank Meyer, senior vice president B2C, SME & Innovation, E.ON SE.

Since public launch of the EWF test network, Tobalaba, on  November 1, 2017 , more than 25 companies, both innovative utilities and emerging startups, have started building and testing their decentralized applications on the network. Tobalaba is the most advanced and the only open-source energy industry blockchain platform, constantly evolving to address the specific needs of the energy industry thanks to the feedback received from the ecosystem of energy companies and startups of the EWF. In 2018, special attention will be paid to introducing scaling mechanisms, and improving connectedness with physical assets/devices.

“Our goal is to create a global ecosystem of innovators committed to working together to advance the state of the art of this powerful technology. With the expansion of our network through these Round B additions, we have assembled the preeminent global consortium tackling blockchain applications in energy,” added Dr Jon Creyts, foundation council member of EWF and managing director at Rocky Mountain Institute.

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