As part of the SET Award 2019, the top 100-ranked start-ups who applied for the SET Award were rewarded the opportunity to participate and showcase as part of the Innovation Hub at the 24th World Energy Congress (WEC24) 2019 in Abu Dhabi. Sponsored by the Dubai Electricity and Water Authority, this incredible opportunity includes travel and accommodation expenses, and a showcase space for the SET100 at the congress.
In the lead up to WEC24, we asked the participating SET100 start-ups to answer a few questions to provide potential partners the opportunity to learn more about them and to also help other start-ups learn from their experiences. We thank them for their work toward the global energy transition and for sharing with us the following insights.
#SET100 Start-up: Insolar (Switzerland)
Insolar is building an open-source, enterprise-grade blockchain platform to enable seamless interactions between companies that is powered by distributed trust. Insolar envisions itself as a key enabler of energy transition by building an enterprise-grade, Transactive Energy Platform to align the economic objectives of distributed stakeholders with the overall objective of maintaining grid resiliency.
Traveling, pitching, partaking in meetings, and networking requires considerable time and effort. Other than perhaps being given a blank check, what is the best case scenario or result you as a start-up hope to get out of participating in initiatives such as the SET platform and the Innovation Hub at the 24th World Energy Congress in Abu Dhabi?
The SET platform and Innovation Hub at the WEC are excellent networking opportunities, which can connect us to like-minded companies and initiatives which are aiming to promote the energy transition, just as Insolar is doing. In the best case scenario, the WEC will give us the opportunity to showcase our Transactive Energy System (TES) such that we can create large scale roll-out that will have maximum impact to effectively battle climate change. For instance, we can imagine being selected to participate as a supplier in the Abu Dhabi Smart Cities initiative with our TES, to optimize mobility, energy supply from renewables, and utilities. Ideally, the WEC will give us access to fill this role in several Smart City initiatives around the world.
Is there some recent news or something else you would like to share?
Insolar is proud to have been named one of the SET100 most innovative companies supporting the energy transition with its Transactive Energy System (TES). The TES enables the use and storage of renewable energy through a prosumer scheme which employs EV charging. Overall, the system strengthens utilities by increasing grid resilience and efficiency though smart-demand mechanisms, involving (enterprise) microgrids. Energy can be more effectively distributed and used in peak demand times. Learn more here.
Thanks for reading and thanks again to Insolar. More information about them can be found here: https://insolar.io/
More about the SET100, including a full list of each SET100 start-up can be found here.