Enechain added real-time contract execution to its online power trading platform eSquare, the Tokyo-based start-up announced last week. Along the upgrade in functionality, enechain renamed the platform to eSquare Live.
“We founded enechain with the ambition of ‘realizing fully automated trading like in Europe and the United States in Japan,’ and today we have finally taken the first step,” said enechain’s Founder and CEO Ryo Nozawa. “We believe that it will take time to improve the liquidity of automated trading, but we will continue to contribute to Japan’s electricity market by making improvements step by step,” he added.
When announcing the new service, enechain also noted that the cumulative wholesale electricity transaction volume traded through its platform is approaching 2 trillion yen ($13.4 billion) and that the company has also seen growth in environmental value trading on its platform.
Enechain was founded in July 2019 with the goal of developing an energy marketplace and related tools. This April, it raised a 6 billion yen Series B through both equity and debt from companies including major Japanese power market players such as JERA, Kansai EPCO’s K4 Ventures, Chugoku EPCO, and Chubu Electric Power Miraiz.
