Energy Web announced today that they have received a 1M Euro grant from Google’s Impact Challenge program. The grant will allow Energy Web to develop a digital framework for coordinating distributed energy resources (DERs) across the transmission and distribution market interface of Europe’s power grid. It sounds awesome and I’m excited to see what happens, but wow that’s a pretty intense challenge. As an engineer that works closely with a few regional energy markets in the US, I’m in awe of what they’re attempting here.
Energy Web has been working on this exact type of stuff for years.
Energy Web is a global non-profit working to enable low-carbon electric systems through decentralized technologies. They have been developing an open-source platform called the Energy Web Decentralized Operating System (EW-DOS) with the goal of allowing for any energy asset to participate in any energy market. The Google Impact Challenge grant they received aligns perfectly with their work on EW-DOS, since it is focused on integrating a large set of assets across multiple markets.
Yes, they have a token. Yes, it’s blowing up.
The EW-DOS platform has a utility token called Energy Web Token (EWT). It’s on the ticker on this site! EW-DOS is a software stack that includes a blockchain an SDK for developing distributed apps, so the EWT is essentially the token used within that whole ecosystem (e.g. you can use it to buy stuff in dApps, it’s used to compensate validators via transaction fees, other blockchainy stuff…). And of course EWT is blowing up right now.
Energy Web is really cool
Energy Web is definitely one of the most well-established blockchain/crypto projects in the energy space. It’s also very cool because it’s fully open-source and Energy Web is a non-profit. If you participate in energy markets anywhere in the world or are into develop dApps in the energy space, you can become a member and get involved with everything they’re doing. They’re out there doing good work, check it out.