AEW Energie AG has entered into a strategic partnership with Virtual Global Trading according to a press release. It will gradually acquire a stake in the start-up based in Aargau of up to 35 percent.
Virtual Global Trading has developed eNet, a digital trading platform for the energy sector. It offers various business models to the customers of energy providers, meaning that companies can for instance present offers for battery storage or solar panels on the platform. These offers can then be used by private individuals, i.e. the energy suppliers’ customers.
The platform uses data that is updated daily from the network operator’s smart meter. The traded and settled energy data is automatically compared with the systems of the distribution network operator. If the platform registers a new smart meter, it creates a unique token. Using this token system developed and patented by Virtual Global Trading, proof of origin is provided for the energy. Overall, the platform also enables all participants to quickly react to market trends.
Together with Liechtensteinische Kraftwerke (LKW) the start-up is already implementing its system in Liechtenstein. Use of the platform there is also to serve as a model for other regions. The aim is now to continuously roll out eNet across Switzerland and Europe.
Marc Ritter, Head of the Energy Business Area at AEW, is quoted in a press release from the AEW, saying: “By engaging in this start-up company, we are securing market knowledge from bordering countries, where regulation and liberalization of the energy market are very advanced. We want to use this knowledge in our preparation for complete liberalization of the energy market.” Together with the start-up, AEW hopes to also develop new market models for Switzerland.