Energy Focused Blockchain Company Receives Investment from Shell Ventures and Sumitomo Corporation

According to an announcement made on July 10, 2019, American energy-focused blockchain firm LO3 Energy has raised investments from Shell and Sumitomo Corporation for the commercialization of a blockchain-based community energy platform.

LO3 is Looks to Scale

Brooklyn firm LO3 Energy, a fast-growing company with deep roots in energy, finance, and technology, is working on a decentralized model for energy distribution. In order to support the global development of its blockchain-based community energy networks, LO3 Energy announced on July 10, that both Shell and Sumitomo Corporation have invested in the project. The company had previously received investments from Braemar Energy Ventures, Centrica, and Siemens.

The platform developed by LO3 which is reportedly the first of its kind,…

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