- The test is slated to commence on February 28 at the Yokohama Nakayama Office of Kyocera Corporation in Kanagawa Prefecture, Japan
- A small virtual power plant would be installed at the site utilizing the firm’s solar PV modules and batteries
New York-based LO3 Energy Inc. and Kyocera Corporation have reportedly declared the launch of a joint project aimed at testing the viability of a blockchain-managed virtual power facility using a peer-to-peer distributed consensus network. As per trusted sources, the test is slated to commence on February 28 at the Yokohama Nakayama Office of Kyocera Corporation in Kanagawa Prefecture, Japan.
Deputy General Manager of Corporate R&D Group at Kyocera Corporation, Hironao Kudo was reportedly quoted saying that the company is committed to develop low-carbon solutions and maximize renewable energy resources. Kyocera Corporation is the only firm in the domain of Japan’s grid management that has collaborated with LO3 Energy, which has time and again proved the efficiency of its blockchain technologies across the globe, Kudo further added.
Reportedly, a small virtual power plant would be installed at the site utilizing the firm’s solar PV modules and batteries. By combining LO3 Energy’s blockchain technologies with Kyocera’s expertise, both the firms would assess virtual power plants that promote a low-carbon society without harmful emissions.
The Chief Executive Officer of LO3 Energy, Lawrence Orsini reportedly commented that the need to lower carbon emissions has been exerting significant impact on energy providers across the world. The networks of LO3 Energy utilize distributed ledger technologies which enables the energy transactions required to meet the challenge, Orsini further added.
According to a report published by Renewables Now, the energy would be controlled via distributed ledger technology of LO3 Energy to log and manage energy flow. The said technology is utilized for recording and verifying transactions, enabling sharing of energy customers would produce with their own solar panels through a microgrid.