Grid7 Will get $1 Million DOE Grant for Decentralized Power Grid

Colorado based mostly power tech firm, Grid7 has been awarded virtually $1 million USD in grant cash by the US Division of Power to fund its efforts to develop a decentralized power grid. 

The information was introduced in a authorities press launch, Monday. The corporate is one in every of 95 grant recipients, which the DOE mentioned will advance nationwide and power safety. 

Grid7’s venture, E-Blockchain: A Scalable Platform for Safe Power Transactions and Management, goals to make use of blockchain expertise to handle energy plant cybersecurity points and discover how a decentralized method can enhance the reliability of power networks.

The precise sum being awarded is $999,363 USD, a part of the overall $95 million USD made accessible to 80 small companies throughout the US, as a part of the DOE’s Small Enterprise Innovation Analysis (SBIR) and Small Enterprise Know-how Switch (STTR) packages.

Grid7 was among the many choices for a Part II analysis and growth grant, having demonstrated the technical feasibility for its innovation throughout part one of many course of. It needed to compete for this extra funding, which will probably be over a interval of two years. Grid7 had already obtained a $150,000 USD grant from the sooner part, in keeping with the DOE knowledge.