Hive Power teams up with Landis+Gyr

Hive Power is a spin-off funded at University of Applied Sciences and Arts of Southern Switzerland (SUPSI) in August 2017 by a team of researchers active in the field of Smart Grid, as a part of Swiss national center for electrical infrastructure (SCCER-FURIES). Hive Power aims to put smart contracts at the service of renewables through blockchain technology.

The collaboration with Landis+Gyr – a leading global provider of integrated energy management solutions for the utility sector – focuses on the development of a smart meter, which is able to tokenize the energy produced or consumed by the users. Hive Power will use this as an oracle to certify the energy exchanged inside a local energy communities, allowing a flawless integration with the blockchain and the smart contracts of the Hive Power Platform. Landis+Gyr experience in meter development and manufacturing will allow for the development of an affordable hardware solution that meets Hive Power’s technological requirements while ensuring industrial grade Swiss quality.

After a private ICO round, the  public ICO will commence on 11 June  through the Eidoo ICO Engine with a soft cap of 1 Mio USD. The capital raised will be dedicated mainly to research and development (65%) and for starting others pilot project (20%).

About Hive Power
Self-producing energy through smart grids solution is a growing eco-trend, which still has several difficulties and problems, especially due to the big difference between the prices of energy purchased and sold to the local network with the actual tariffs scheme based on the percentage of self-consumption.

In this new scenario, Hive Power developed a business model that enables the creation of energy sharing communities where all participants are guaranteed to benefit from the participation. The innovation in the project belong in the so-called HIVE, a platform that manage and optimize energy exchange between producer and consumer through a blockchain based on energy tokens (Hive Power Token) granting a technical and financial optimum for the whole community.

The blockchain technology gives the opportunity to optimize decentralized energy exchange processes, granting the contracts not only between local neighbour-hood but also with other players in the same district (like business entity). Those contracts are already technically possible, but blockchain technology allows a transparent and secured mechanism of energy metering and coordination between prosumers, integrating the billing system in a very efficient way.

(Press release/GP)