The former chief executive of UK utility npower, Paul Massara, has become chief executive of British blockchain company Electron.

Massara has been an executive on the Electron board for the past year, however he has now stepped up to take over the chief executive role from Paul Ellis, who will now become executive chairman.Paul Massara becomes CEO of blockchain firm Electron

Jo-Jo Hubbard remains as chief operating officer.

Paul Massara said: “I am delighted to be joining the executive team as we expand the business both here in the UK and internationally. The potential for the business is huge with strong international demand for the flexibility platform that we have developed.”

Ellis said: “Paul Massara has been a part of the board as a director for some time now so I’m delighted to be able to finally welcome him into an executive role as our new chief executive officer.

“Paul brings a wealth of experience from the energy industry that will be invaluable to Electron as we capitalise on the momentum we have built.”

Yesterday, London-based Electron revealed that it has secured investment from SYSTEMIQ, an investment and advisory firm that tackles system failures.

The deal comes just two months after Electron attracted a consortium of nine energy industry heavyweights to work on bringing a decentralized energy trading platform to market.

The company’s chief operating officer Jo-Jo Hubbard is a keynote speaker at Electrify Europe in Vienna in June. Click here to watch our exclusive interviews with her, in which she covers digitalization, e-mobility, decentralization and more.

She told PEi: “Digitalization refers to the collection of data within the energy space. For Electron, we are looking at two key components: digitally representing physical assets on the system – so a digital twin identity – and we are looking at digitally representing the flows of those assets.Jo Jo Hubbard of Electron

“We are moving to a world with a million decentralized energy assets and maybe tens of millions decentralized energy resources if you include electric vehicles, batteries and connected homes. So suddenly that data becomes incredibly important, because all of the new business models coming up all rely on having access to that data.”