Power Ledger finalist in Richard Branson’s tech challenge

The Extreme Tech Challenge finalists. Image: Catherine Aeppel

Peer-to-peer market for renewable energy Power Ledger has been selected as one of three finalists in Richard Branson’s 2018 Extreme Tech Challenge.

Speaking from CES in Las Vegas, where she presented on behalf of Power Ledger as one of 10 semi-finalists in the competition, co-founder and chair Dr Jemma Green said she was thrilled to be selected.

“Having the chance to present our peer-to-peer energy trading platform at CES was an invaluable opportunity to raise awareness and share our message on a global scale,” Dr Green said.

Established in 2014, the Extreme Tech Challenge is a competition that identifies emerging companies with the potential to dominate markets.

It aims to empower their success through visibility, infrastructure and resources that help the companies to scale quickly, at a low cost.

To make it to the final round, Power Ledger first progressed through a rigorous application process, and then advanced to the top 25.

The company was then selected as one of the top 10 companies, and invited to present on stage in front of a live audience at Eureka Park, CES’ flagship startup destination.

The Power Ledger team will head to Necker Island for the final presentation round later this year.

They will be joined by fellow finalists Owlet Baby Monitors and Revl, and a panel of judges led by Sir Richard Branson.

“Power Ledger has continued to go from strength to strength,” Dr Green said.

“After raising $34 million in Australia’s first Initial Coin Offering (ICO), and signing major partnerships in Australia and India last year, we have high hopes for 2018.

“To start 2018 on stage at CES was already a great privilege and honour, and being named an Extreme Tech Challenge finalist has exceeded all our expectations.

“We are excited to take this opportunity and use it to further grow the business, and bring more POWR to the people on a global scale.”

Power Ledger’s plans for 2018 include the transition to a modified fee-less consortium Ethereum network; and the first asset germination event, where token holders will be able to become co-owners and beneficiaries of renewable assets.