Blockchain-based EV charging trial gets $1M from Canadian government

Blockchain-based EV charging trial gets $1M from Canadian government

A three-year pilot scheme for an innovative blockchain-based electric vehicle, or EV, charging platform has received $1 million in funding from Natural Resources Canada, a department of the country’s government.

The scheme promises to reduce the cost of EV charging transactions and enhance power grid efficiency, according to an article on the independent Electric Autonomy Canada platform.

The pilot will take place at two multi-tenanted office buildings in downtown Toronto, and is run by EV charging platform SWTCH Energy and intelligent energy software developer Opus One Solutions.

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The innovation comes through the understanding that EVs aren’t just alternatively-powered cars, but batteries on wheels.

This allows them to be used in a bidirectional charging scenario whereby they are charged up overnight using cheap electricity and can then supply excess power to the building at peak times during the day.

The car owners are then credited for the power they provide, based on the competitive price of electricity at the time.

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