Renewable energy startup EtainPower secures strategic investment from decentralized AI computing platform DeepBrain Chain to enable smart grid infrastructure for the renewable energy ecosystem.
EtainPower offers a decentralized energy trading and investment platform that uses blockchain and smart contracts to tokenize energy for peer-to-peer trading. Typically, renewable energy projects have a hard time getting funding for their upfront costs and have had to rely on traditional financing from centralized institutions like banks. Meanwhile, private investors are hungry to get involved in renewable energy, both as a profitable investment and as a cause they personally support. EtainPower brings sustainable energy producers, investors and consumers together to revolutionize both financing and circulation of sustainable energy, powered by their token, EPR.
The partnership, the first of its kind in renewable energy sector, will allow EtainPower to address even more challenges for power grid operators through smart grid technology. DeepBrain Chain (token: DBC) is a decentralized artificial intelligence platform that utilizes spare computing resources to distribute the high data computation demands of AI. Their system makes AI programs more affordable for partners in their network, decreasing costs by an estimated 70 percent. Their strategic investment in EtainPower will enable smart grids within the ecosystem to leverage AI for more efficient energy distribution.
Many nations are committed to advancing renewable energy and reducing their dependence on fossil fuels, but without smart grid technology, have faced challenges with infrastructure that has slowed adoption.
Recognizing the need for sustainable energy, many nations offer government subsidies for new projects. However, the availability is becoming more scarce, with many new projects entering the market and existing power grid operators competing for funds to upgrade their infrastructure. Renewable energy can put a heavy load on power grids, as weather factors can cause wide fluctuations in energy supply. The infrastructure is not well equipped to deal with this instability, and neither are the operators themselves experienced with the unique challenges of renewable energy. EtainPower, with the addition of DeepBrain Chain’s AI capabilities, will help operators adapt. Smart grids efficiently balance the load, eliminating waste and distributing available energy across the ecosystem. Pilot projects are launching in the US, China and Caribbean Islands.
EPR token holders have the opportunity to invest in new renewable energy projects by purchasing energy tokens used to fund projects of their choosing. These energy tokens can also be used to buy electricity from these suppliers and other power suppliers in their local region, and even pay for relevant services like electric vehicle charging. Further, EPR holders are able to participate in power generation mining through the platform as a steady source of dividends. This gives renewable energy supporters the opportunity to contribute to projects in a meaningful way, bridging the funding gap for new projects raising capital, playing a part in protecting the environment, and of course profiting from investment in a fast growing industry.
Meanwhile, the DeepBrain Chain strategic investment enables a more stable and efficient power trading ecosystem through their powerful AI network, allowing conventional power grids to adapt to the requirements of renewable energy. This partnership removes the obstacles that have so far prevented widespread adoption of renewable energy.
DeepBrain Chain Foundation has joined EtainPower’s roster of investors including Gobi VC, Gorun Energy, Blue Rising Capital, Shuyin Capital, Sell Capital, ARChina Capital Partners.