Jutta Kleinschmidt founded Green Energy Wallet last year in a bid to invent a blockchain-powered energy trading system.
Although not immediately obvious, it’s a mission inspired by racing cars. Green Energy Wallet is about connecting the electric vehicle and home batteries to a large energy storage system for renewable energies to balance the power grid. So where do race cars come into it?
Kleinschmidt first rose to public prominence when she won the prestigious Paris Dakar rally in 2001 – becoming the first woman to do so. Her passion for all things fast and on four wheels has now manifested in the electric vehicle infrastructure space.
“My first profession was physics engineer. I later went into the auto industry, working for BMW for seven years, before going into professional race car driving. I’m still an engineer in my heart and during my career as a driver I helped all my teams to develop the cars I was driving. I even worked with Volkswagen to develop a car from scratch.”
That appetite for all thing automotive has always found an outlet. Since retiring from the pro circuit she had been in demand as a test driver. When electric cars came into her orbit, it spiked her interest and she found them ‘not as bad’ as had been depicted.
“At the end of day motorsport was always about using the latest technology. You can see developments and enthusiasm around Formula E now among manufacturers, and Formula E is getting bigger and bigger. The bigger car makers such as BMW know if they help develop cars to race electric, they will learn a lot about the battery, about heat parameters, everything. Motorsport is all about trying it – forcing it – until everything explodes. It’s going to the limits.”
“I’m always interested in the new technology. I do a lot of speeches regarding mobility and when this battery-as-storage idea started to be spoken about, I thought it was a good idea. When I researched to see who was doing it, I found that nobody was, and so then started to think about what was necessary to make it happen. That’s why I started the company.”
Formed last September, Green Energy Wallet has since built a team, partnerships and performed extensive market research.
The application being developed is aimed at controlling the charging processes as well as handling the energy trading and billing for all common smart devices. By using blockchain technology, the company says decentralized peer-to-peer energy trading will be possible in the smart grid of the future.
The provision of the batteries will be compensated by Green Energy Wallet with a token reward programme.
The application makes it possible to provide low-cost energy storage, realizes profits from energy trading, includes contingencies for emergency backup, uses blockchain technology for decentralized peer-to-peer energy trading, and stabilizes the power grid.
The technology will also serve to facilitate the integration of vital renewable energy, serve the fast-growing electric vehicle market, increase battery life by managed charging and makes long-term contributions to the environment.
Jutta Kleinschmidt is a speaker at Electrify Europe in Vienna in June. Click here for more details.
This article is an extract from a longer feature that will appear in PEi magazine later this month. Subscribe here to be sure of receiving your issue.