Conjoule closes Series A investment from innogy Innovation Hub a

Conjoule closes Series A investment from innogy Innovation Hub and TEPCO
Investment of leading international utilities innogy and TEPCO will accelerate
the development of Conjoule's peer-to-peer energy trading platform. TEPCO is the
first investor in an innogy Innovation Hub venture founded to build the leading
decentralised energy marketplace enabled by blockchain technology.
 
 
Essen and Tokyo, July 11, 2017 - (JCN Newswire) - Conjoule GmbH, a start-up
developing peer-to-peer energy markets enabled by blockchain technology has
closed a EUR 4.5 million Series A investment round from two strategic
investors, the innogy Innovation Hub and Tokyo Electric Power Company
Holdings, Inc. (TEPCO).
 
Conjoule is developing a peer-to-peer marketplace for producers and consumers
of renewable energy, as well as owners of batteries and other sources of
flexibility, to transact with each other without the need for traditional
intermediaries. The platform and launch product which allows residential
prosumers with solar photovoltaic installed on their homes to sell excess
electricity to local consumers are currently being piloted in two German
cities.
 
The Co-Founder and Managing Director of Conjoule, Sam Warburton, is a former
employee of the innogy Innovation Hub. With a 20-year record in trading-based
energy systems he and his team are ideally placed to develop new products for
the decentralised energy world. Using blockchain technology, the Conjoule team
are building one of the most exciting technology developments to enable new
transactional models in energy.
 
With this investment Conjoule will continue to grow its technical team and to
commercially launch the platform and initial product that have been in pilot
during 2017 in selected markets in Europe, as well as to start the development
and testing of the next products in Conjoule's product roadmap.
 
"Conjoule has a clear vision to create tomorrow's energy system:
it's decentralised, digitised and customer friendly. It follows the idea
of the 'sharing economy' where consumers can buy energy directly
from their neighbourhood via Conjoule's platform. Conjoule is another
example of the innogy Innovation Hub portfolio where we found and invest in
new companies that have the potential of exponential growth in the
future," said Thomas Birr, Senior Vice President Innovation &
Business Transformation of innogy SE and leading the innogy Innovation Hub.
 
"Blockchain technology will redefine what is possible within the energy
ecosystem," said Shin-ichiro Kengaku, Managing Executive Officer and
Chief of the Global Innovation & Investments at TEPCO. "We look
forward to partnering with Conjoule and the innogy Innovation Hub to gain
hands-on experience and drive the transformation of the energy industry."
 
About Conjoule
 
Conjoule GmbH is a venture capital backed start-up that is building the
decentralised energy marketplace of the future where all participants are able
to transact electricity and flexibility amongst each other as peers without
the need for traditional middlemen.
 
We are building disruptive new digital business models that fundamentally
redesign the way that energy market participants interact with each other. Our
first product, which is currently in pilot testing, enables residential solar
photovoltaic owners to sell their excess electricity to local consumers on our
blockchain-enabled platform. The platform will provide market access for grid
edge assets to market energy, capacity and flexibility.
 
Our investors include two of the world's leading utilities - innogy with
its Innovation Hub and Tokyo Electric Power Company Holdings, Inc. (TEPCO).
For more information visit http://www.conjoule.de
 
About Conjoule's Investors
 
Conjoule is backed by two of the world's largest utilities:
 
About the innogy SE and the innogy Innovation Hub
 
The innogy Innovation Hub is part of innogy SE, Germany's leading energy
company, with revenues of around EUR 44 billion (2016), 23 million customers,
more than 40,000 employees and activities in 16 countries across Europe. With
its three business segments Grid & Infrastructure, Retail and Renewables,
innogy addresses the requirements of a modern, decarbonised, decentralised and
digital energy world.
 
At the innogy innovation Hub we are committed to drive gaming-changing ideas
to evolve an innovation portfolio for innogy. Our purpose is to build, found
or invest in new companies that have the potential of exponential growth in
the future, with the innogy Innovation Hub as partner of choice. We focus on
'Machine Economy', 'Urban Exponentials', 'Smart &
Connected', 'Disruptive Digital' and 'Big Data'. Get
more insights here: https://innovationhub.innogy.com/
 
For more information visit http://www.innogy.com/en
 
Tokyo Electric Power Company Holdings, Inc. (TSE: 9501), headquartered in
Tokyo, Japan, is the largest utility in Japan serving millions of homes and
businesses. Worldwide the company has more than 34 subsidiaries and 32
affiliates in 8 countries and employs approximately 42,060 people.
Consolidated revenue for the fiscal year ending March 31, 2017, totalled 5.3
trillion Japanese yen. The company was established in 1951 and is listed on
the First Section of the Tokyo Stock Exchange. TEPCO's recent venture
capital investments include United Wind Inc., Via Science, Inc. and Moixa
Energy Holdings, as well as participation in the Energy Web Foundation. For
more information visit http://www.tepco.co.jp/en/
 
About Conjoule
 
For enquiries about Conjoule please contact info@conjoule.com
 
For press enquiries please contact the following:
 
- For Conjoule: press@conjoule.com
- For innogy SE: Alexander Stechert-Mayerhofer, innogy SE,
alexander.stechert-mayerhoefer@innogy.com
- For TEPCO: https://www4.tepco.co.jp/en/other/contact/media-e.html
 
 
 
TEPCOConjoule GmbHinnogy Innovation Hub
 
 
 
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