The amount of the deal was not disclosed.
Led by Paul Ellis, CEO, Electron is a technology company leveraging blockchain technology to design new platforms and services for a decarbonising, digitising, decentralising and democratising energy sector.
Together, the two companies will explore the potential to change the existing centralized structures to decentralized systems in energy transactions by using blockchain.
Headquartered in Tokyo, Japan, Tokyo Electric Power Company Holdings is the largest utility in Japan serving millions of homes and businesses. Worldwide, the company has more than 34 subsidiaries and 32 affiliates in 8 countries and employs approximately 42,060 people. Consolidated revenue for the fiscal year ending March 31, 2017, totalled 5.3 trillion Japanese yen. The company was established in 1951 and is listed on the First Section of the Tokyo Stock Exchange.