IOTA Inks Tangle-Fueled Deal with French Energy Play ENGIE Labs

iota engie labs partnership

IOTA already boasts multiple partnerships with companies in the automotive and energy sectors. Many companies are getting benefits and synergies by using the IOTA Tangle technology. IOTA is now expanding its reach into the energy industry amid a deal with ENGIE Lab CRIGEN.

Yesterday, IOTA announced it signed a MOU with French utility ENGIE Lab CRIGEN. Together, they want to explore how the power company can use IOTA’s technology.

New Deal with ENGIE Lab CRIGEN

ENGIE Lab CRIGEN operates its own research institute, which is dedicated to artificial intelligence and distributed ledger technology (DLT). The company has been a member and active contributor to the IOTA marketplace for some time, and there has been a link between both projects, IOTA and ENGIE. Now, ENGIE hopes to use IOTA’s Tangle technology to optimize its business processes and. Above all, ENGIE wants to revise its product range and related services across smart cities and smart buildings.

Wilfried Pimenta de Miranda, IOTA’s Head of Business Development, stated:

The IOTA Foundation looks forward to working with ENGIE Lab to accelerate the technology development and prototyping cycle through concrete pilot projects and international collaboration within the Power & Utilities industry. ENGIE Labs has extensive know-how and its own initiative in exploring new digital technologies and smart energy business models are real benefits to our ecosystem

Meanwhile, IOTA may expand the partnership with ENGIE Labs, which similarly recognizes great potential in Tangle.

Just a few days ago, it was revealed that CarPass, developed by IOTA and Volkswagen, is in the home stretch and scheduled for release in early 2019. CarPass is a performance data tracking protocol designed to ensure reliable and secure data collection for maintenance and efficiency improvement.

IOTA’s price has been stable during the last 24 hours at 0,57$US after a sharp drop yesterday. With a market capitalization of 1.6 Billion $US, IOTA currently occupies the 11th place in the raking of the biggest cryptocurrencies.

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