The former chief executive of RWE npower, Paul Massara, has joined the board of Electron, a London-based energy blockchain development company.
Electron is a start-up harnessing new blockchain technologies to design more efficient, resilient and flexible systems for the energy sector.
The company designs platforms and services which are intended to empower the industry to address the challenges and maximise the potential of new technologies such as distributed generation and energy storage.
Paul Massara, who is now chief executive of North Star Solar, will join Electron as a director. He said: “I am really excited about joining the board and investing in Electron. It is clear that blockchain will disrupt many markets including the energy market and having scanned the market, it was clear that Electron will be a major player.”
Electron chief executive Paul Ellis said Massara “will bring invaluable industry and business experience. This is also a testament to the growing recognition within the energy industry of the opportunity afforded by blockchains to speed innovation and cut costs.”
Electron says that it recognises the potential for blockchain to transform the shared virtual infrastructure of the energy industry, and is taking a top down, collaborative approach to platform development by working with various key stakeholders across the energy industry.