The milestone may further raise Powerledger's visibility in the sustainability and energy transition markets. But the moniker doesn't guarantee success.
Powerledger: Business Background and Software Focus
Powerledger, founded in 2016, emerged in Perth, Australia. The company is now headquartered in Zug, Switzerland. Powerledger raised AUD$34 million in 2017 via an initial coin offering (ICO), SmartCompany reported. Fast forward to 2022, and Sangha Capital acquired a stake in Powerledger -- though the dollar figure and company valuation were not disclosed.
Powerledger develops a "blockchain-enabled energy and environmental commodity trading platform to make energy markets more efficient." The company seeks is to "revolutionize the world’s energy markets by allowing individuals to trade electricity between themselves," Financial Review stated.
Powerledger's software focuses on three market opportunities:
energy trading and traceability;
flexibility trading; and
environmental commodities trading.
On the sustainability front, Powerledger can facilitate trading in energy, carbon, and renewable energy certificates, the company said. Example customers include:
France's Ekwateur (allows customers to track and trace their energy);
India's TATA Power (peer-to-peer energy trading).
Powerledger and Google Cloud Marketplace: What's Available?
Powerledger's Vision platform, available in Google Cloud Marketplace, "enables energy retailers to unlock and create new revenue streams, as well as retain existing customers," the company asserts. Vision leverage several Google Cloud platform services -- such as Kubernetes Engine, Compute Engine, and Cloud BigTable.
Jemma Green, chairman and co-founder, Powerledger
In a prepared statement, Powerledger Chairman & Co-founder Jemma Green said: "Powerledger’s Vision offers much needed energy visibility for RE100 companies, enabling the meticulous tracking of Scope 2 emissions at individual sites using electricity meters, and across their entire portfolio. It's a tool that transforms sustainability goals into actionable insights, providing companies with a comprehensive understanding of their energy usage."
RE100 is the global corporate renewable energy initiative "bringing together hundreds of large and ambitious businesses committed to 100% renewable electricity."
What is Google Cloud Ready for Sustainability?
Google Cloud Ready for Sustainability is part of the Google Cloud Partner Advantage program, designed to maximize Google Cloud partners' success across business models, customer requirements, success metrics, and strategic priorities, the company asserts. Google Cloud Marketplace Sustainability Hub provides customers with "easy access to validated sustainability solutions and will showcase Google Cloud Ready for Sustainability solutions," the company added.
To earn the Google Cloud Ready - Sustainability designation, the search giant says partner solutions must:
Be available on Google Cloud;
address ESG risk, and assist customers in achieving ESG targets and/or support typical ESG goal frameworks, such as the United Nations’ SDGs;
demonstrate repeatability;
meet minimum Google Cloud application development best practices, including security, performance, scalability, availability, and carbon footprint reporting for available services;
have at least one public customer case study available.Â
Still, partnering with Google doesn't guarantee business success. Among the struggling partners: mCloud Technologies Corp., a Google Cloud sustainability partner focused on energy management solutions, is seeking a buyer as of May 2024 amid multiple executive departures and various cost cutting measures in the business.
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