Swytch Announces Strategic Partnership with HST Solar to Accelerate Solar Installations

AUSTIN, Texas–(BUSINESS WIRE)–Swytch,
a blockchain-based solution for accelerating a sustainable and equitable
energy future, today announced a joint development agreement with HST
Solar, the leading end-to-end solar platform. Under the terms of the
agreement, HST will provide Swytch with proprietary data and analytics
for forecasting production capacity and efficiency for solar
installations. This data will also allow for developers to run different
financial scenarios for an existing or planned installation.

The data arms Swytch with the ability to help users identify which
locations will provide the best returns on investment and, therefore,
how to maximize monetary returns and Swytch rewards. This gives holders
of the Swytch Token access to otherwise costly information. In turn, HST
will gain visibility from a wide array of Swytch network participants
and be able to refine the quality of their models using Swytch network
data. This will further enhance HST’s position as the leading purveyor
of high-quality data that will maximize the efficiency of solar
installations.

“The transition toward sustainability and a renewable energy power
infrastructure has strong tailwinds and Swytch will make them even
stronger,” said Rudy Roy, Cofounder of HST Solar. “Solar power has
become the cheapest form of electricity in the world with
record-breaking projects being built. We are excited that this
partnership will help us showcase how HST can help a blockchain-based
solution leverage our 25GW+ of solar modeling experience.”

HST Feasibility is the world’s #1 ground mount solar data and
development platform, automating and optimizing the development and
engineering workflows for firms that include Total, Enel, Eon, Nextera
and Avangrid. HST offers a secure API framework and architecture around
the software to allow applications that incentivize renewable energy
production to achieve Energy Data, Payback Time, LCOE, IRR, and more
data.

“The most progressive businesses want to implement solar energy with
highly optimized design and functionality,” said Evan Caron, Swytch
Co-Founder and Managing Director. “Our partnership with HST Solar is a
natural fit, as it enables a more data-driven approach, informing users
of the Swytch platform where and how they should operate to boost
revenue streams.”

Swytch uses blockchain to bring together data, networks, and incentives
for the world to finally adopt renewable energy at scale. The Swytch
platform consists of an ERC20 token to facilitate exchange of production
data rights, a Proof-of-Production protocol to verify data directly from
the source, and an open-source “oracle” to aggregate data and allocate
incentives based on actual environmental and economic impact. As the
Swytch network grows, so too will the value of the underlying data,
maximizing the collective potential of its participants to drive
exponential change in how energy markets are structured and function.

About Swytch:

Swytch
is a blockchain solution for accelerating a sustainable and equitable
energy future. The Swytch platform includes token-based incentives,
open-source data aggregation, and unique blockchain protocols to secure
and verify energy production data.

Swytch fills the gaps in today’s marketplace for verified renewable
production and data sharing. By utilizing an ERC20 compliant utility
token, Swytch will incentivize investments in sustainable assets. In
addition, the data aggregation and protocol layers will also
revolutionize the way information is collected and shared in the
renewable energy market. Applications in infrastructure include
grid-scale, residential, and storage systems across all sources of
renewable energy (wind, solar, hydro, etc.).

From large-scale industrial power infrastructure to small residential
installations, Swytch Tokens can be generated through the production of
renewable energy. Swytch and its partners are building out the
technologies and community necessary for ensuring data and tokens can be
freely exchanged within the network. The Swytch platform was created by
the Token Commons Foundation, a non-profit foundation based in Zug,
Switzerland.

About HST Solar:

HST
Solar is pioneering a new way to reduce the cost of photovoltaic
power through the industry’s only end-to-end solar design and
engineering platform. After users input site data, boundaries, and
company-specific inputs, our cloud-based platform allows contractors and
developers to design and engineer high performance solar projects using
multi-dimensional optimization techniques previously not applied to the
industry. Combining automation and optimization techniques, our HST
Inside™ is the industry’s only algorithm-based PV system design software
that can build and compare hundreds of permutations of PV system
designs, using a proprietary search function to search through the best
global solution for a system design. To do this it pulls data from
extensive module, inverter, wiring and other component databases and
puts them into proprietary combinations. The result it yields can be
20%-40 reductions in the cost of solar power.

Contacts

Porter Novelli
Greg Jawski, 212-801-8248
Greg.jawski@porternovelli.com