Power Ledger in Silicon Valley electric car deal

Perth-based blockchain business Power Ledger has signed a deal to work on an electric vehicle charging project in California’s Silicon Valley.

Power Ledger, which provides technology to track peer to peer energy movements underpinned by a cryptocurrency token launched last year, has inked a range of agreements for use of its product in the past year.

Those include trials with Sydney-based utility Origin Energy, and arrangements to take the product into developing markets such as India.

The latest deal is in collaboration with the Clean Energy Blockchain Network and utility Silicon Valley Power, which is owned by the City of Santa Clara, although a value for the contract was not disclosed.

The idea is that the project will link renewable energy production and storage with community charging of electric vehicles.

Power Ledger managing director David Martin said Silicon Valley Power was a highly innovative utility.

“We’re excited to demonstrate how the platform can assist with cutting both costs and carbon in a simple manner with a secure and clean energy source,” Mr Martin said.

Silicon Valley Power chief electric officer John Roukema said using the platform would enable the tracking of carbon-free electricity from its source to customer electric vehicles.

“This will provide a clear audit trail in support of proposed changes to the low carbon fuel standard program that will allow for incremental credits while automating the entire process,” Mr Roukema said.