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Shell Invests in Blockchain Tech Startup for Energy Tracking

May Arjomand

Summary: Shell Oil, the fifth-largest oil and gas company worldwide, will invest in LO3, a New York based tech startup that uses a modified version of the ethereum blockchain to address the challenge of tracking energy from different sources across supply networks.  Kirk Coburn, investment director at Shell Ventures, commented: “As we move into a less ...

Shell Oil, the fifth-largest oil and gas company worldwide, will invest in LO3, a New York based tech startup that uses a modified version of the ethereum blockchain to address the challenge of tracking energy from different sources across supply networks. 

Kirk Coburn, investment director at Shell Ventures, commented: “As we move into a less carbonized future, Shell aims to invest in innovative companies that will help enable the energy transition. LO3 Energy fits right in that space.”

Author: May Arjomand

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