Power Ledger, the peer-to-peer market for renewable energy, has been named as one of 10 semi-finalist in the Extreme Tech Challenge (XTC) who will appear on stage at CES 2018 in Las Vegas in January.
In showcasing its blockchain-powered energy trading platform, it will be competing for three finalist spots that will involve presenting at Richard Branson’s Necker Island for the chance to win resources to amplify and scale their companies.
Power Ledger co-founder and Chair Dr Jemma Green commented: “Getting the chance to present our peer-to-peer renewable energy trading platform at CES 2018 is a fantastic opportunity to get our message out to even more markets around the globe. We know that our solution is one that can benefit many people across the globe, so what better place to showcase it than CES in Las Vegas. Visiting Necker Island for the Blockchain Summit earlier this year was a great privilege and I hope that Power Ledger can return as a XTC finalist.”
The other nine companies that Power Ledger will be competing against are Abra, AirSwap, BioCellection, Choose, Neurotrack, Owlet Baby Monitors, Rayton Solar, Safe Motos and Tissue Analytics. Plaggio Fast Forward, the wild-card selection, will also appear on stage but will not be competing for the finalist spots.
Power Ledger recently raised A$34 million from over 15,000 buyers in a token generation event, which was Australia’s first Initial Coin Offering (ICO). This followed the announcements of major partnerships with Origin Energy in Australia, which involves customers using the platform to buy and sell excess energy, and Tech Mahindra in India, which sees the trading platform used in conjunction with microgrids across the country.
The funds raised will be used to fuel a roadmap of developments throughout 2018 and beyond. Next year, these include the transition to a modified fee-less consortium Ethereum network and the first asset germination event, where token holders will be able to become co-owners and beneficiaries of renewable assets.