LO3 Energy is a technology company.
LO3 Energy has raised $200K across 1 funding round.
LO3 Energy has raised $200K in total across 1 funding round.
LO3 Energy has raised $200K in total across 1 funding round.
LO3 Energy's investors include Ascend Venture Capital.
LO3 Energy was a Brooklyn-based technology company specializing in blockchain platforms for decentralized energy systems, enabling peer-to-peer (P2P) energy trading and local energy marketplaces (LEMs).[1][2][3] Its flagship products, like the Exergy platform and TransActive Grid (TAG), allowed consumers and businesses to buy, sell, and manage renewable energy locally, solving grid stability issues, promoting renewables, and giving users more control via tools such as hybrid TAG-e meters and mobile apps.[1][2][3][5] LO3 served utilities, retailers, communities, and partners worldwide, with pilots in the US, Australia, UK, Germany, Japan, and Colombia; it was acquired by Shell in 2021, integrating its tech into Shell's Exergy for ongoing transactive energy innovation.[1][5]
Founded around 2012-2014 in Brooklyn, New York, LO3 Energy was led by founder and CEO Lawrence Orsini, a machinist, technologist, and futurist, with early team members like Scott Kessler handling business development.[2][3] The idea emerged from expertise in renewables, cleantech, and emerging decentralized models, aiming to revolutionize energy production, consumption, and transactions using blockchain.[2][6] Pivotal early traction came from the Brooklyn Microgrid project, the world's first blockchain-based P2P energy trading demo, which metered over 50 sites and drew 300+ participants, partnering with Siemens and others to prove real-time metering and microgrid viability.[3][5][7][8]
LO3 Energy rode the convergence of blockchain, renewables, and grid decentralization trends, enabling the shift from centralized utilities to prosumer-driven microgrids amid rising DER adoption like solar and storage.[1][3][6][8] Timing was ideal post-2010s blockchain boom and energy transition pushes, with pilots proving P2P trading's potential for grid resilience in deregulated markets.[5][7] Market forces like regulatory support for renewables (e.g., in Europe, Australia, Japan) and utility needs for edge management favored its tech, influencing the ecosystem by inspiring transactive energy standards and partnerships that accelerated cleantech commercialization.[1][4][5]
Post-2021 Shell acquisition, LO3's team and tech underpin Shell's Exergy, poised to scale globally in transactive energy as DERs proliferate and AI/blockchain hybrids optimize grids.[1] Trends like net-zero mandates, EV integration, and Web3 energy tokens will amplify its legacy, evolving influence toward enterprise-grade platforms that blend legacy grids with decentralized markets—tying back to its Brooklyn roots in pioneering consumer-empowered energy revolutions.[1][2]
LO3 Energy has raised $200K across 1 funding round. Most recently, it raised $200K Series A in March 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2019 | $200K Series A | Ascend Venture Capital |