In late 2017, TEPCO closed an initial investment round with UK energy blockchain company Electron.
Electron offers a wide range of services including meter registration, a flexible power trading platform, and projects aimed at democratizing energy systems.
Paul Ellis, CEO of Electron: "In the next phase of energy transformation, millions of new assets will be joining energy networks at both the transmission and distribution levels. There is a huge need to create a robust shared infrastructure that can identify and record the properties of these assets - this can be underpinned by appropriate blockchain technologies. TEPCO is an energy industry leader for innovation in Japan, so we are delighted to partner with them to explore expanding our service offerings in other markets."
Shin-ichiro Kengaku, Managing Executive Officer at TEPCO: "We are excited to work with Electron to explore and obtain additional know-how on blockchain that has the potential to significantly impact the energy market. We believe it is very important to continuously seek new opportunities and create new value for society."