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ElectronX is building a stock market for electricity trading
ElectronX, a startup developing an exchange for electricity trading, has secured $10 million in funding led by Systemiq Capital, with support from Equinor Ventures, Shell Ventures, and Innovation Endeavors. The U.S. electricity market, traditionally regulated and reliant on coal-fired plants, is evolving with the integration of renewable energy sources like solar and wind. ElectronX's platform allows trading in 1 megawatt blocks on an intra-hour or hourly basis, aiming to make the market more accessible to smaller entities, similar to retail stock trading. Currently awaiting approval from the Commodity Futures Trading Commission, the exchange seeks to reduce trading costs and enhance market flexibility.
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