Sofocle and Regen Power today announced an exclusive partnership that teams the market-leading strengths of each company to transform power and energy industry through a new class of Blockchain based Peer to Peer (P2P) solutions. This brings Sofocle’s Blockchain and Software innovation capabilities to Regen’s ground breaking renewable energy supply products and services.
The landmark partnership aims to promote renewable energy over traditional implementations and redefining the way current solar systems are being used, addresses key industry challenges of Peer to Peer models and ignites the true Blockchain led industry transformations.
The residential and commercial segments combined, the Solar PV market of Australia is estimated to exceed 5 million units by 2030 with over 16 GW additions till 2030. Peer-to-peer energy trading is a concept which is basically an idea of a peer-to-peer economy. This allows consumers to take advantage by trading energy with other users who produce more energy than they need. The P2P ecosystems allow households, businesses, schools and other organisations to buy, sell and share energy locally.
Sofocle and Regen Power – Ushering in a New Era
The collaboration will bring following Core capabilities to ground:
- A new class of installations in retirement villages, various residential zones equipped with bleeding edge Blockchain based implementations powered with 1.5kw to 6kw solar systems.
- PoCs and research prototyping around High efficiency micro grids and storage units addressing the needs of practical implementations.
- Delivering the power to the edge where individuals get benefited with real time trading using in-built token economics into their wallets. Smart Contract will be driving the trading routines to make sure that compliance and regulations are in place.
- The solution will provide an immutable ledger of all the transactions and trails. It will also leverage Sofocle’s expertise in Intel SGX, a trusted execution environment based secure implementation to effectively address fraudulent activities.
Sofocle is one of the leading Enterprise Blockchain companies in the world. With a strength of 60 experts in Blockchain and IoT domains, they have executed various platforms, applications and solutions for companies and governments. Sofocle has forged strong partnerships with large ecosystem players. Sofocle has also built OJUS, the peer to peer power trading platform. This is a perfect amalgamation with Regen’s product line and addressing the future market needs.
On the other hand, born and bred in Perth, in 2003 when the market was still learning about rooftop solar PV systems, Regen Power is the pioneer in residential and commercial solar power solutions. Regen has installed over 20,000 residential rooftop solar systems Australia-wide and led the charge into other countries to start projects with both economic and educational implication in sustainability living.
Sofocle and Regen Power shares a vision through this partnership to put in the hands of individuals unique solutions and advantages around different solar power implementations with their Blockchain knowledge, P2P capabilities, domain expertise, innovation and software development practices.
For more information regarding Sofocle’s and Regen’s offerings, please visit:
Dr. Ravi Chamria
Professor Chem Nayar