Earlier this month, blockchain startup WePower revealed an investment from conglomerate
Marubeni. The Japanese company entered into a convertible loan agreement with WePower for an undisclosed amount. WePower runs a renewable energy marketplace that enables commercial and industrial clients to source energy.
Marubeni believes that WePower’s marketplace helps to automate and reduce friction for commercial and industrial energy consumers. That’s because the platform allows corporates to transact directly with renewable energy producers in an automated fashion. They can also sell any excess energy.
“We believe that WePower is in a unique position to disrupt the traditional corporate energy procurement markets by allowing almost any company to buy energy directly from renewable producers,” said Yoshiaki Yokota, Chief Operating Officer, Marubeni Power Business Division.
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