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e2m and Swytch Announce Strategic Partnership to Collaborate on Proof of Concept Pilot

LEIPZIG, Germany–(BUSINESS WIRE)–Energy2market GmbH (e2m), a leader in aggregated energy trading
throughout Europe, and Swytch, a blockchain-based renewable
energy data and incentive platform, today announced a strategic
partnership for a Proof of Concept test. Beginning in January 2018, e2m
has been testing the efficacy of the Swytch blockchain platform across
its portfolio of assets in Germany, equivalent to approximately 3.5Gw of
solar, wind, hydro, and biogas energy capacity. The deal affirms the
ability of Swytch’s technology to function at industry-leading scale as
it pioneers an entirely new blockchain protocol built to verify and
track renewable energy production.

“We firmly believe that blockchain technology can be used to unlock
long-term value for Europe’s renewable energy assets,” said Andreas
Keil, CEO of e2m. “Today, renewable energies represent 31,5% of the
total energy market in Germany but we have a goal of reaching 70% within
2050. Government-based incentive programs can only do so much, and a
more dynamic option is needed. Additionally, some countries, like
Germany, will begin phasing out their incentive programs in the next few
years. We need to prepare for the future and identify new subsidy
instruments and trading mechanism.”

Swytch uses blockchain to bring together data, networks, and incentives
to encourage the adoption of renewable energy at scale. The Swytch
platform consists of an ERC20 token to facilitate exchange of production
data rights, a Proof-of-Production (POC) protocol to verify data
directly from the source, and an open-source “oracle” to aggregate data
and allocate incentives based on actual environmental and economic
impact. e2m uses Swytch because it sees its approach to tokenized
incentives in the energy market as particularly attractive to the larger
energy producers plus the energy traders it serves.

e2m hopes to gain insight into potential alternatives to existing
programs and build expertise in blockchain, an important emerging
technology, in the POC phase. Additionally, the company believes that
Swytch as a global incentive program and data source has the potential
to revolutionize the renewable energy market and reduce the burden
placed on governments to subsidize new and existing assets. In this way,
a partnership with Swytch will create a competitive advantage and
generate value for its customers and the marketplace as a whole.

“Generating more than 3.5 Gw, e2m is one of the biggest direct marketers
of energy in Europe,” said Evan Caron, Co-Founder and Managing Director
of Swytch. “Swytch’s blockchain system is the only technology tested in
gigawatts rather than megawatts allowing us to seamlessly integrate with
e2m’s infrastructure. This gives Swytch the unique ability to verify
production directly from the source. When compared to existing programs
this will drastically reduce administrative costs and open up incentive
mechanisms to residential properties which are the key to accelerated
adoption of renewables. This positions Swytch as a central player in the
global grassroots movement to reduce carbon emissions.”

About e2m

As an independent trading company operating throughout Europe,
Energy2market GmbH (e2m) specializes in managing and optimizing dynamic
portfolios and marketing the flexibility derived from decentralized
generation and consumption systems. With a marketed generation capacity
of renewable energy of more than 3,500 MW, e2m is one of the biggest
providers of market access services in Germany. It has the
infrastructure required for marketing flexibility as well as access to
all German and to international trading markets. As an international
group, e2m has subsidiaries in Poland, Austria, Italy, and Scandinavia,
and recently announced plans to expand to the UK. Read more: www.e2m.energy

About Swytch:

Swytch
is a blockchain solution for accelerating a sustainable and equitable
energy future. The Swytch platform includes token-based incentives,
open-source data aggregation, and unique blockchain protocols to secure
and verify energy production data.

Swytch fills the gaps in today’s marketplace for verified renewable
production and data sharing. By utilizing an ERC20 compliant utility
token, Swytch will incentivize investments in sustainable assets. In
addition, the data aggregation and protocol layers will also
revolutionize the way information is collected and shared in the
renewable energy market. Applications in infrastructure include
grid-scale, residential, and storage systems across all sources of
renewable energy (wind, solar, hydro, etc.).

From large-scale industrial power infrastructure to small residential
installations, Swytch Tokens can be generated through the production of
renewable energy. Swytch and its partners are building out the
technologies and community necessary for ensuring data and tokens can be
freely exchanged within the network. The Swytch platform was created by
the Token Commons Foundation, a non-profit foundation based in Zug,
Switzerland.

Join the conversation about Swytch and sustainable energy production
technologies on Telegram: https://t.me/Swytch.
Learn more about Swytch: https://swytch.io/.

Contacts

Porter Novelli
Greg Jawski, 212-801-8248
[email protected]