31 May '17, 5pm

Drift Is a New Startup Applying Peer-to-Peer Trading to Retail Electricity Markets

A Seattle-based startup is taking some of the most talked-about technology applications -- machine learning, high-frequency trading, and peer-to-peer selling -- and applying them to retail energy markets. The 15-person company, called Drift , is attempting to change electricity delivery in deregulated markets by connecting consumers directly to energy producers on a cryptographically secure system (think blockchain), allowing it to granularly match a customer's environmental or cost preferences. Drift is made up of engineers who've worked at Amazon, Google and Microsoft; a data scientist from Argonne National Laboratory; a head of marketing from Uber; and a former FERC attorney. Greg Robinson, the co-founder and CEO, said the platform was designed to "ruthlessly lower costs in the supply chain" and provide a more customized experience for people looking for energy choice. ...

Full article: https://www.greentechmedia.com/articles/read/drift-is-a-s...

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