Energinet, the Danish transmission grids operator, has signed an agreement to work with the IOTA Foundation to help drive the use of Internet of Things (IoT) technology in the energy ecosystem.
IOTA is a not-for-profit foundation with a mission to support the development and standardisation of new distributed ledger technologies.
Aiming to accelerate the transition to green energy, Energinet has been exploring concepts of digital trust and distributed ledger technologies and is now collaborating with the IOTA Foundation to explore the IOTA Tangle, an open-source, permissionless distributed ledger technology.
According to IOTA, the IOTA Tangle is the first open-source distributed ledger specifically being built to power the future of the IoT, with feeless microtransactions and data integrity for connected devices and machines.
Under a Memorandum of Understanding signed by the two organisations, they will cooperate in experimentation with the IOTA Tangle in the IoT and energy market domains.
Energinet and IOTA will look at how the IOTA Tangle could help in creating new products and services centred on using IoT devices to support greater use of renewable energy — for example, managing heat pumps and electric vehicles towards using energy when there is an abundance of green energy in the grid.
As well as services for the energy market, the collaboration will cover related areas such as smart cities, smart buildings and mobility.
“As part of our journey to a digitised, green energy system, we know that we have to bridge the gap between the fast developments in IoT technology, being implemented on both household and industry level, and the centralised systems of the European energy system,” said André Bryde Alnor, market developer at Energinet.
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