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Exergonix partners with Global Power CY Ltd.
Creates a unique opportunity to democratize energy
Lee’s Summit, October 24, 2016: Exergonix, Inc., a developer of proprietary energy storage technology and
a manufacturer of scalable distributed energy storage systems that supports a smarter, cleaner, and more
resilient electrical grid, today announced that it has reached an exclusive partnership with Global Power
CY Ltd. through its direct sales arm, PowerOnNetwork (www.powerONnetwork.com
Exergonix’s partnership with Global Power creates an international direct sales company that will promote
a unique energy architecture behind its proprietary XeCoin (Xchange Energy Coin) concept. Through
PowerOnNetwork the company has created the first tradable energy based cryptocurrency with the
XeCoin, allowing for a platform where energy can be mined, stored and traded in digitized, transferrable
credits. As energy storage systems are charging and discharging within installed micro-grids around the
world, they will track and capture the accumulated value from the sale of the energy, providing this new
digital currency with an intrinsic value.
In addition to its existing energy storage business, Exergonix recently acquired the assets of CODA Energy,
LLC in California with more than 12 years of experience and a very deep intellectual property portfolio in
managing stored energy in the automotive and utility market. By integrating the CODA product portfolio of
energy storage products into the existing Exergonix portfolio, the company can now produce behind-themeter
systems of all sizes – ranging from a few kilowatt-hours to multiple megawatt hours. The company is also
launching the Verd2GO product line of portable, sharable storage modules for vehicles and buildings as a
strategic deployment with the PowerOnNetwork.
The Exergonix-Global Power partnership will allow customers to store energy for a rainy day while profiting
from their investment. In the same way gold is put on reserve; stored energy now can be traded and sold
in a monetized and incentivized manner. The PowerOnNetwork will provide the opportunity for investors to
trade stored energy directly at their fingertip using the Verd2GO app which was developed for just this
purpose and will be tied directly to the XeCoin that is tradable within the network.
EXERGONIX PARTNERS WITH POWERONNETWORK
Exergonix, headquartered in Lees Summit, Missouri, manufactures energy storage systems that can provide
power for use in homes, office buildings, and utility installations. Exergonix President & CEO, Don Nissanka,
explained this synergistic partnership as “a new paradigm in the democratization of energy, giving
consumers real-time ability to track the value gained in using energy storage systems.” Nissanka added,
“the world needs a platform where every household, business and community is able to see their energy
costs at their fingertips, and manage them on demand. The combination of the Verd2GO app with the
XeCoin not only allows a user to monitor usage profiles and create an ongoing revenue steam, but also
allows them to track the reduction in carbon emissions and the amount of energy that is wasted today
because there is no ability to store it. This is a major breakthrough, creating a hands-on interactive solution
to capture and monetize all the inefficiencies in the electrical grid today”.
Sunny Sanwar, the founder and inventor of Verd2GO elaborated, "Verd2GO was created to usher in a
standardized network to monetize clean energy use through modularized units. Our app allows users to
track energy production and consumption in real-time, allowing for on-demand use; whether it be
collecting, storing, sharing or using the energy to power homes, offices, cars or other electrical devices.
Through today's emerging blockchain and internet of everything-technology categories, Verd2GO allows
consumers to connect with the infrastructure and energy uses of tomorrow"
Exergonix, has developed its product line with the aim of supporting the overall energy reliability equation
and helping to stabilize power delivery infrastructure. The company has reliably delivered energy projects
geared for commercial or utility-scale applications and has participated in strategic partnerships to win
utility grid-level projects. The partnership with Global Power and the launch of the PowerOnNetwork is
expected to bring an added advantage in bringing electricity storage to the consumer market, extending
the product distribution to residential and consumer applications globally. Additionally, Exergonix’s
partnership with solar developer Neighborhood Power Corporation will broaden the portfolio of solutions
promoted by the PowerOnNetwork – allowing the company to deploy micro-utility solutions around the
world using the proven power purchase agreement model Neighborhood Power has implemented in the
Global Power’s President, Arve Evensen, commented that, “The team behind the XeCoin is bringing years
of experience in building successful direct to consumer marketing initiatives globally. With a proven history
of creating affiliate models and memberships of millions of potential customers, this partnership will strive to
yield positive return on a commodity that everyone uses today. The synergy is exceptional and by
combining the track record of the two companies, we open up a world of opportunities in the
democratized energy market. ”
EXERGONIX PARTNERS WITH POWERONNETWORK PAGE 3
Exergonix is dedicated to the mission of providing clean, renewable energy solutions cost-effectively. Its
proprietary technology has been deployed in energy, environmental and renewable projects around the
world since its founding in 2010 and is accepted by leading utilities and regulatory authorities who are
breaking ground in the application of storage technologies to maximize grid capacity and penetration of
renewables. Having put its technology through years of rigorous testing and certification in utility-scale
applications, Exergonix is commencing the commercial roll-out of storage solutions for both large and
About Global Power CY Ltd.
Global Power CY Ltd. is an international company dedicated to developing unique marketing strategies
around a direct-to-the-customer sales process using its network of internet based customers. The Global
Power partnership with Exergonix, delivers ground-breaking renewable micro-grid solutions by employing
proven direct selling models, achieving significant market penetration, not only in the developed world
that has energy infrastructure but also in developing countries where access to energy via a national grid is
oftentimes out of the question. The partnership facilitates for the first time the true democratization of
energy, both by investing directly in energy storage and by creating a new paradigm in energy
production, storage, distribution and consumption using the PowerOnNetwork and the XeCoin.
February 23, 2017
Blockchain technology—the technology underpinning the Bitcoin virtual currency—is being discussed as one of the most potentially disruptive technologies since the Internet. Blockchains are a combination ofinformation technology, cryptography, and governance principles that enables transactions to occur without the need for a third party to establish trust between transacting parties.
To put it another way, in today’s transactions a number of human processes and institutions—such as banks, lawyers, regulators, brokers, and utilities—are paid to establish trust. Blockchain technology replaces these institutions, making it possible to conduct transactions without a third-party intermediary.
At Rocky Mountain Institute, we believe that blockchain technology has the potential to play a significant, potentially game-changing role in the global electricity system’s transition to a more secure, resilient, cost-effective, and low-carbon grid.
Blockchain Technology and the Electric Grid
In the face of aggressive growth in distributed energy resources (DERs)—such as rooftop solar, demand response, and electric vehicles—governments, utilities, and other stakeholders from across the globe are experimenting with new ways to better regulate and manage the electricity grid. These experiments currently face four main issues regardless of their geography:
- Controlling demand is difficult: Customers are concerned about privacy and sometimes loathe to share data—let alone allow third parties to control DERs that they own.
- Tracking flows of energy is imperfect: Energy markets and markets for the attributes of energy (e.g., renewable energy credits) can be expensive to run, can be subject to double spending, and can usually be accessed only via intermediaries.
- Not everyone can participate in the grid’s evolution: In developed economies, only large, sophisticated businesses are able to enter into off-site power purchase agreements for renewables. In emerging economies, access to capital is a major barrier to accessing DERs and renewable energy, even if these technologies are capable of generating cost savings.
- Putting customers and DERs first is challenging: The entire grid was originally designed from the top down, making it challenging to put customers and DERs first.
Although it is not yet 100 percent clear how, blockchain technology may be capable of solving these challenges:
- Blockchains provide privacy, enhance cybersecurity, and are a low-cost way of managing DER-focused transactions at the edge of the distribution grid.
- Blockchains provide a more transparent and, at the same time, a more secure way of tracking energy flows than the status quo.
- Blockchains enable small-scale and low-credit customers to participate in business models focused on DERs and renewable energy.
- Blockchains are a key enabler of balancing and managing the grid from the bottom up versus today’s top-down approach.
To unlock this value and help accelerate blockchain technology development in the electricity sector, RMI and Grid Singularity—an Austria-based blockchain technology developer—formed the Energy Web Foundation (EWF).
EWF is a nonprofit foundation with one high-level goal: to unleash the potential of blockchain technology in the energy sector. To achieve this goal, EWF focuses on defining blockchain use cases, building a blockchain platform for the energy sector, incubating an ecosystem of stakeholders, and educating the public.
Discovering Blockchains’ Many Applications
When technologists connected individual computers via phone lines to exchange packets of information in the late 1960s, no one knew exactly what that technology—which would eventually become the Internet—was capable of. Sending digitally signed messages, or “e-mail,” was immediately seen as a clear and interesting application, but not much else. In other words, the beginnings of the Internet looked intriguing, but nobody quite knew the extent of what it could do.
Blockchain technology in the energy sector is at a very similar early stage. We understand, at pilot scale, how to connect electricity loads, generators, and everything in between (e.g., distribution lines and batteries) to a blockchain ecosystem in order to track flows of energy and value while allowing multiple parties to transact. The most discussed blockchain pilots demonstrate this basic functionality, with small-scale rooftop solar customers exchanging green attributes of power in places like New York City and Australia.
But small-scale peer-to-peer use cases like these are just the tip of the iceberg. Even to blockchain experts, it’s still unclear exactly where the technology’s value lies and what the roadmap to commercial implementation looks like in the energy sector. Research organizations have identified more than 200 applications of blockchain technology. EWF will conduct detailed research and analysis on these use cases to identify exactly what blockchain technology can be used for in today’s electricity sector, how much economic value the technology can unlock, and what it will take for applications to be deployed at scale. Thus, EWF can help key stakeholder groups—electricity regulators, ratepayer advocate groups, and the public—better understand the benefits of blockchain technology and ease the technology’s path to market.
Open Sourcing and Unifying the Blockchain Movement
Imagine for a moment you are the chief executive of Snapchat (or any other popular mobile phone application) five years before its application becomes one of the most-used in history. Now, imagine that you have built your application, but platforms like Apple’s iOS operating system or Google’s Android simply don’t exist. In this alternate history, Snapchat would not only need to build its application, but it would also need to build an entire operating system capable of running the application on mobile devices everywhere—a massive undertaking.
This is exactly where blockchain technology is in the energy sector today. Currently, a select few utilities are experimenting with blockchain pilots. These pilots typically consist of defining a use case (e.g., peer-to-peer exchange of excess rooftop solar energy), writing software to turn the use case into an application, and then running the applications on a platform. To date, each utility has either built its own platform or used an existing public platform (like Ethereum or Bitcoin) to run its application.
Instead of developing proprietary platforms, EWF sees an opportunity for energy market participants to jointly fund and develop a single blockchain platform for the global energy sector. EWF will capture this opportunity by bringing together dozens of stakeholders and building an open-source blockchain platform. Organizations representing distribution utilities, traders, customers, and financiers will be able to build energy-focused applications on top of this shared, open-source blockchain. Likewise, instead of utilities, regulators, and grid operators conducting individual pilots, we aim to position EWF as the central convening platform to bring together energy-focused blockchain efforts everywhere and accelerate the pace of blockchain development through a combination of hackathons, boot camps, and other gatherings.
Last week in Vienna, Grid Singularity hosted the first large-scale conference focused on blockchain technology and energy: Event Horizon. The conference is an opportunity for energy-focused organizations to learn about blockchain technology, connect with startups across the globe, and understand how they can benefit from the technology. Moving forward, EWF plans on holding Event Horizon conferences annually, with ambitions to become the conference for blockchain technology and energy.
RMI and Grid Singularity look forward to sharing EWF’s progress and detailing exactly how blockchains can help us achieve our vision of a cleaner, more resilient, customer-focused electricity future.
© 2017 Rocky Mountain Institute. Published with permission. Originally posted on RMI Outlet.
Trademark Copyright Protected 2010