Two corporate heavyweights have announced investments in the New York-based developer and operator of peer-to-peer energy platforms. The funding will allow LO3 to scale its blockchain-based community energy networks worldwide.
The Japanese electrical equipment supplier provided the battery to Taiwan Power Research Institute, which will pair the system with variable renewables such as solar in a pilot project.
The JPY 4 billion credit facility with Japan’s Sumitomo Mitsui Finance and Leasing Company will be steered towards solar project development in the country.
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