Unibright to Pilot Blockchain-Based Renewable Energy Trading in Germany
Unibright has partnered with German startup Wasserkraft Mittelrhein to use blockchain technology to facilitate renewable energy trading.
On March 9, blockchain technology provider Unibright (UBT) announced a partnership with German startup Wasserkraft Mittelrhein to use the Unibright Framework to facilitate decentralized renewable energy trading.
The partnership will see the firm join Wasserkraft Mittelrhein to facilitate trading, monitoring and data analysis of renewable energy produced by decentralized power plants using the Unibright Framework.
Unibright proposes a “smart grid” system, where disparate small electricity producers engage directly with energy consumers via blockchain technology.
Unibright to provide blockchain technology for “Project Power-Buoy”
Wasserkraft Mittelrhein is an innovative power coming aiming to generate renewable energy using hydroelectric buoys. The “strombojen”, or “power-buoys,” are reported to weigh more than seven tons and are over 36 feet long. The buoys generate enough electricity from a river’s current to power 100 households each year.
Unibright will provide blockchain technology to Wasserkraft Mittelrhein for the current phase of its ‘Project Stromboje’ — which will see the installation of 16 power-buoys to generate approximately 6.4 million kilowatt-hours of electricity annually.
Wasserkraft claims that it will be able to power 1,000 households whilst saving 6,000 tons in greenhouse gasses that would have through coal-powered power plants each year.
The Unibright framework will be used for smart contract generation and integration. The Unibright team stated:
“Currently, the first pilot buoy has been installed in river Rhine, mainly to collect data on the river’s current and to provide information for external auditors in terms of environmental sustainability and stability of the construct. All innovative ideas, milestones, and roadmaps have to be adjusted according to the regulator and external funding, and the goal is to have 16 buoys installed, producing energy and using Unibright technology by the beginning of 2021.”
Germany to phase out nuclear and coal energy generation
Unibright’s entrance into Germany’s renewable energy sector is timely, as the German government launched a long-term plan to phase-out coal-fired energy production in the country in January.
With nuclear energy also set to be phased out within the next two years, Germany’s energy sector will likely see a proliferation of renewable electricity producers.
Unibright announced as Enterprise Ethereum Alliance member
At the end of January, Unibright announced its membership in the Enterprise Ethereum Alliance (EEA)’s Ethereum Mainnet Integration for Enterprises (EMINENT) task force, where it will leverage its experience in providing blockchain integration services to businesses.