Siemens Invests in LO3 Energy, Making Blockchain Core to Its Microgrid Strategy

By [email protected] Blockchain is having a moment. Seemingly every week, a new partnership or platform is announced in the energy sector.
The latest move comes from Siemens, which participated in the Series A funding round for LO3 Energy, a blockchain-based microgrid developer. The companies didn’t disclose the terms of the deal, but the Director of Microgrids for Siemens Energy Management, Clark Wiedetz, described the financing as “not chump change.”
A filing from November lists a funding round for LO3 Energy at close to $6 million. Other investors in the startup include Braemar Energy Ventures and Centrica Innovations, the venture arm of British energy

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