The Spanish startup Klenergy is ready to revolutionize the electric sector with blockchain technology and to offer a collaboration model to more more than 1,200 European energy cooperatives. As part of the communication efforts regarding their project, they held a meeting last Thursday 26 in the most emblematic community of the Danish capital.
The day was a success. First, we discussed and discussed Christiania’s energy model and how it could be improved through Klenergy’s technology. Then a small demonstration “sandbox” of what could be achieved if Pylon Network was to be implemented.
Klenergy Tech has developed a platform of exchange of renewable energy between users, called Pylon Network. Its own payment method, PylonCoin, is the most sustainable crypto-currency, making it a unique solution at a global level.
Klenergy Tech and Christiania have agreed to develop a pilot project in order to improve the energy distribution and management, within Christiania’s micro-grid.
Klenergy, launched a few days ago an ICO (Intitial Coin Offering), which will end on Thursday, November 2. By launching this innovative way of crowdfuding the team is aiming to secure the necessary funding for the next stage of development of its platform, which facilitates to consumers the exchange of renewable energy, purchased directly from the producer without the intervention of intermediaries throughout the process. In the words of Gerard Bel, CEO and co-founder of the company, Pylon Network, in addition to being efficient with environmental policies, can reduce the electricity bills by around fifteen percent.
With this energy proposal, Klenergy team, made up of five engineers, is willing to change both the energy generation & distribution models on which the electricity sector has operated for over a century.
Their commitment to go hand in hand with cooperatives ensures a specific implementation plan, which sets the difference with respect to the models designed by their competitors. “Partnering with energy cooperatives and implementing the Pylon Network within their operations means we do not expect changes from the big players in the energy markets,” says Bel.
The CEO of Klenergy points out that another important issue that sets them apart from other competing companies is that they have developed their own smart energy meter, METRON. “It’s the only integrated payment method based on blockchain, which allows us to record and validate all the energy flows in the network,” says Bel. Another differential element of Klenergy Tech is that instead of using smart contracts for P2P energy exchange, they have developed their own blockchain algorithm in collaboration with Faircoop.
Since they unveiled their platform, a little more than two months ago, Klenergy’s team has been called from various instances to explain its disruptive energy model. Less than a month ago, Greenpeace invited them to travel to Brussels to explain their point of view on the measures needed for a sustainable European future based on renewable energies.
With the environmental alarm on the agenda of all European governments, Klenergy’s proposal offers a clean and efficient response. “The environmental footprint of our platform is minimal due to its low energy consumption and because we base its operation on renewable energy that would otherwise be wasted,” Bel explains.
In addition to issues related to environmental efficiency, Klenergy CEO explains that his company’s energy proposal is also very attractive from an investment point of view. “The current model is exhausted and important changes will soon be made. The big companies that do not want to lose market share will have no choice but to bet on alternative ways of doing business “, emphasizes Bel.
Bel states that Klenergy’s proposal may also be interesting for Spanish renewable energy traders because “they can close bilateral contracts for all or part of the energy produced, under more advantageous conditions complementing their Pylon-coins selling price.”
Also, the small-scale self-consumers who join the Pylon Network will be able to receive compensation for the surplus energy that until now poured without any compensation to the network. And, in turn, the rest of users will be able to buy this surplus directly, through the payment method implemented by Pylon Network (PylonCoin).
Bel cannot understand how in Spain the price of electricity is becoming more expensive every day, when renewables are becoming more competitive. Bel, who before turning to Klenergy, worked as an installer of Endesa and responsible for maintenance in water plants and various hardware production factories, explains that “renewables are becoming more competitive because they decentralize production, which means a reduction in dependence important for marketers and a significant saving for the user. And to all this must be added that blockchain brings more transparency. ”
For the conceptualization and design of Pylon Network, the team of multi-disciplinary engineers has worked for three years, adding another three more the latter. Klenergy, has been able to reach at the present point with minimal external investment, plans to use the money raised through the ICO, for demonstrating the operation of Pylon Network with the participation of 800 users, installing 1 MW of energy solar and 1.5 MWh of storage (if maximum investment target is reached).
To avoid present legal obstacles and protect from future changes, the pilot will be carried out in collaboration with GoiEner, a cooperative of the Basque Country, with more than 8,000 members. “The only way to enter the national electricity market in Spain is through the commercial operation of the cooperatives. GoiEner will allow us to test our model in a broad enough environment to validate it.
Regarding the revenue model applied in Pylon Network, the Klenergy CEO explained that it will generated by the sale of the METRON smart meter, which will necessary in order to be a user of the platform.
In addition to the pilot to be held in Christiania, there will be another in Spain. Not only because of the location of the company, half Spanish half Danish, but because “being the most regulated market in Europe, if it works, it will work all over the world,” says Bel.
In its three years of existence, Klenergy has dedicated a lot of work, time and energy to develop a range of solutions applied to the world of energy & sustainability. T his work has been recognized with several awards and recognitions. The latest case, at the South Summit 17 Startup Competition held earlier this month in Madrid.
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