IOTA close to deal with Danish energy company

Distributed-ledger network IOTA is close to getting a deal with the Danish energy company Energinet. The state-owned company is expanding its partnership with IOTA to investigate the use of the tech in new areas. According to IOTA itself, the energy company wants to investigate how to use IOTA’s tangle-technology in the energy and Internet-of-Things (IoT) markets.

For now the companies are talking about a partnership. If tests work out well, we might talk about a major deal in the months of years to come. However, this is not the first collaboration between IOTA and Energinet. The two companies were already working together on a data marketplace since late 2017. This project is in collaboration with many other companies.

For Energinet, the renewed partnership is an effort to bridge the gap between the slowly operating European energy system and the fast developments in IoT technologies. Energinet sees that IoT technology is being used in households and industries, and therefore feels a need to invest.

IOTA is specifically designed to dive into the world of the Internet-of-Things. Energinet wants to leverage their technology and develop new solutions for upcoming things, like green energy and electric vehicles.

Energinet is a frontrunner when it comes to innovation in the energy sector. The company is pushing for a shared wind farm between the United Kingdom, Denmark, Germany, The Netherlands, Belgium, Norway and Sweden. The wind farm would be build around an artificial piece of land, called Power Link Island. It would become the biggest wind farm of Europe. They expect European wind energy to reach 70–150 Giga Watts by 2040, which would be enough to provide 20% of entire Europe.

Potentially IOTA could be used in this system, as the North Sea Power Link Island is all about distribution and sharing. Blockchain technologies would be an useful way to build such systems.

Originally published at NEDEROB.