See other companies on Welcome to the Jungle
Energy Web
Decentralised energy market optimisation
- 21-100 employees
- B2B
- Energy
- Sustainability
- Blockchain
- Zug, ZG
Jump to section
Company mission
To accelerate the energy transition by developing and deploying open-source Web3 technologies that help companies unlock business value from clean and distributed energy resources.
-14% employee growth in 12 months
Our take
Globally, energy grids have a serious problem. As the size of the grids grow and new technologies and regulations are deployed, the complexity of the system increases. It becomes harder and harder to coordinate the activities of the grid, leading to unacceptable waste and environmental damage as the data flow becomes too complicated for any central authority to manage. The Energy Web Foundation was founded to use Web3 technology to optimise the world's energy networks by transitioning to a decentralised energy network based on the blockchain.
The Energy Web Foundation aims to fix inefficiencies in energy markets and support clean supply chains by offering verification services (Green Proofs) for tracking and registering low carbon products, auditing tools and a data exchange to streamline communication and provide visibility between market participants. These are already being deployed as part of Internet of Things products, for instance in partnership with KORE to provide connectivity for IoT smart grid applications.
Energy Web Foundation raised money in a seed round, with participation from several energy companies such as Shell, Tokyo Electric Power Company and Sempra Energy. It is continuing to develop and deploy its products, and in the immediate future it is planning to launch its Energy Web X testnet with associated token. While the current bear market in crypto seems likely to pass the pressing need for green and efficient technologies in this space will not, and The Energy Web Foundation is poised to continue its growth as energy demands continue to rise.
Steph
Company Specialist at Welcome to the Jungle
Funding (1 round)
May 2017
$2.5m
SEED
Total funding: $2.5m
Leadership
Jesse Morris
(CEO)Was Secretary and CCO for the Energy Web Foundation before stepping up to the CEO position. Prior to that was a Principal in the Rocky Mountain Institute and a Public Programs Coordinator at the Aspen Institute.
Ewald Hesse
(Foundation Council Memeber)Currently also CEO of Grid Singularity. Was also a Co-founder of Scytale Ventures and Regional Director at Andritz Hydro.
Ana Trbovich
(Foundation Council Vice-Chair)Also a Co-founder of Grid Singularity and a UNECE Carbon Neutrality Advisory Board member. Is also a Professor at the Faculty of Economic, Finance and Administration in Belgrade.