Electrify
Electrify Pte Ltd is a Singapore-based energy technology company operating the Electrify.SG retail electricity marketplace and the patent-pending Synergy peer-to-peer energy trading platform, serving C&I consumers, solar prosumers, and national utilities across Southeast Asia.
- Company typePrivate
- Founded2017
- HeadquartersSingapore, Singapore
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Electrify does
Electrify Pte Ltd is a Singapore-based energy technology company founded in 2017 that operates a retail electricity marketplace (Electrify.SG) and a patent-pending peer-to-peer (P2P) energy trading platform called Synergy. The Synergy engine dynamically allocates green energy from prosumers (such as rooftop solar owners) to consumers with claimed 100% matching efficacy, processing IoT digital private meter data at 1-minute intervals and reconciling against national utility meters. The platform is built on a micro-services architecture on Amazon Web Services (AWS), incorporates a blockchain settlement layer (the ELEC token), and is engineered from the ground up to be grid-compatible — incorporating tariff structures, grid losses, grid usage charges, and VAT/GST so it can integrate with utility-scale grids rather than operate as an isolated micro-grid. Its commercial pilot deployment, SolarShare (launched August 2020 with Senoko Energy and ENGIE Factory), is Singapore's first commercial P2P renewable energy trading pilot and reached 100 paying customers by April 2021.
The company's revenue model combines a freemium retail marketplace (Electrify.SG), pilot and transaction-fee economics on SolarShare, and enterprise platform deployment of Synergy with national utilities and industrial parks (e.g., GPSC in Thailand, TNB X in Malaysia, FREA/Aizu Lab in Japan). Go-to-market mixes self-serve marketplace and SolarShare signup funnels for SMBs and consumers with direct enterprise sales to utilities. Electrify has raised capital through one of the largest token sales by a Singapore company in 2018 and a strategic investment from Japan's TEPCO in 2019; the team is small (~10-15 employees) and includes a CEO (Martin Lim, ex-Sunseap) appointed in December 2019 and a Head of Technology with 14 years of industry experience serving as lead blockchain developer. The company's sub-brands (Synergy, SolarShare, Electrify.SG, Marketplace) collectively position it as a regional P2P energy infrastructure provider across Singapore, Thailand, Malaysia, Japan, Australia, and Spain.
Electrify firmographics
Firmographics- Name
- Electrify
- Legal name
- Electrify Pte Ltd
- Website
- https://electrify.asia
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Electrify Pte Ltd is a Singapore-based energy technology company operating the Electrify.SG retail electricity marketplace and the patent-pending Synergy peer-to-peer energy trading platform, serving C&I consumers, solar prosumers, and national utilities across Southeast Asia.
- Ownership category
- akta.pro rank
Electrify industry classification
Industry- Product category
- Retail Electricity Marketplace / Peer-to-Peer Energy Trading Platform
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Services-Computer Programming Services (7371)
- akta.pro primary industry
- DER Aggregation & Virtual Power Plants (VPPs) (EUAMAJAC)
- akta.pro secondary industries
- Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR) (EUAGABAI), Advanced Grid Integration & Control R&D (AI Forecasting, Digital Twins, Synthetic Inertia, Virtual Power Plants) (EUAMAOAG), Solar Inverters, Power Electronics & MLPE (String/Central Inverters, Optimizers, Microinverters) (EUAMABAE)
Keywords
Where Electrify is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
Electrify business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- Electricity marketplace transactions (Electrify.SG): Cloud-based retail electricity marketplace in Singapore. Free for consumers to use with no hidden costs; revenue model implied to be transaction/marketplace-based with retailers, having transacted more than 60 GWh since 2017.
- Synergy platform deployment with utility/industrial partners: B2B deployment of the patent-pending Synergy P2P platform to national utilities and industrial parks (e.g., GPSC in Thailand, industrial parks, shopping mall 500 kWp solar PV project). Revenue likely structured around deployment, integration, and ongoing platform/transaction fees.
- SolarShare pilot energy sales: SolarShare is a 6-month commercial pilot with Senoko Energy and ENGIE Factory; prosumer solar energy is sold above wholesale price, with a fixed-price plan offered by Senoko Energy for non-sun hours.
- ELEC token transactions (planned): First deployment of the ELEC token for blockchain-based settlement on a 500 kWp solar PV project in Bangkok (shopping mall pilot). Designed to stay within Thailand's monetary regulations via a licensed agency partner.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Electrify.SG marketplace — free to use for consumers |
| Usage-based | Pay-as-you-go | SolarShare — two-part pricing (Senoko non-sun rate + selected solar producer sun-hour rate) |
| Other | Pay-as-you-go | Synergy Beta — no participant hardware costs during pilot |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Electrify product offering
Product offeringCore offering
Electrify operates two interconnected businesses: (1) Electrify.SG, Singapore's first retail electricity marketplace that lets residential, commercial and industrial consumers compare and switch electricity retailers on a single cloud platform, and (2) Synergy, a patent-pending peer-to-peer energy trading platform with a proprietary matching engine that dynamically allocates green energy from prosumers to consumers across city-wide utility grids. SolarShare is the commercial pilot deployment of Synergy, launched in Singapore in collaboration with Senoko Energy and ENGIE Factory, and is also being deployed internationally with partners such as GPSC in Thailand.
Product overview
Electrify operates a platform-plus-modules architecture comprising three interconnected offerings. Synergy is the company's core patent-pending peer-to-peer (P2P) energy trading engine that dynamically matches prosumers and consumers across city-wide grids with 100% matching efficacy. Electrify.sg Marketplace is Singapore's first retail electricity marketplace (launched 2017) that enables residential, commercial and industrial consumers to compare and select retailer plans on a single platform. SolarShare is the commercial pilot deployment of Synergy in Singapore, launched in August 2020 in collaboration with Senoko Energy and ENGIE Factory, and represents the first live commercial instantiation of Synergy technology. The Marketplace leverages Synergy's matching algorithm to create producer-consumer matches in real-time, while the underlying technology stack (built on AWS with micro-services architecture and Ethereum blockchain) supports IoT meter integration at 1-minute intervals for data visualization, analytics, and settlement.
Differentiator
Problem solved
Functional benefit
Brands
- Synergy: Electrify's patent-pending peer-to-peer (P2P) energy trading platform that matches energy prosumers with consumers in real time across existing utility grids.
- SolarShare
- Electrify.SG
- Marketplace
Products and services
- Synergy
- Electrify.SG Marketplace
- SolarShare
Quantifiable outcome
- 60 GWh+ of electricity transacted via Electrify.SG since 2017
- +5 more outcomes
Companies that use Electrify
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
Electrify technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability3 records
Feature7 records
Electrify partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship, core and minor.
- Global Power Synergy Company (GPSC)flagshipElectrify signed an MOU with GPSC (PTT Group's flagship electricity and utility company) to deploy the patent-pending Synergy P2P platform at multiple sites in Thailand, integrating with GPSC's smart energy offering (rooftop solar, floating solar, ESS, EMS). Marks Electrify's first business venture in Thailand.
- Combined Heat and Power Producing Co. Ltd. (CHPP)coreCHPP, a wholly-owned subsidiary of GPSC, will integrate Synergy with its smart energy solution as part of the Thailand deployment — enabling combined heat and power sites to participate in P2P energy trading.
- Senoko EnergyflagshipSingapore-based Senoko Energy (an ENGIE subsidiary) is a long-standing launch partner for SolarShare — the commercial P2P pilot powered by Synergy. Senoko provides retail electricity plans for non-sun hours; James Chong, Head of Commercial at Senoko, endorsed the partnership publicly.
- ENGIE FactoryflagshipENGIE's dedicated innovation arm, ENGIE Factory, co-developed and helped launch SolarShare in Singapore. Quentin Vaquette, Managing Director of ENGIE Factory, is a public endorser.
- TNB X (Tenaga Nasional Berhad innovation division)minorElectrify is in discussion with TNB X, the innovation division of Malaysia's national utility, to design the framework for a P2P energy solution in Peninsular Malaysia. A data trial was scoped within two months of the announcement to demonstrate platform efficacy.
- Amazon Web Services (AWS)flagshipAWS is Electrify's primary cloud platform. Electrify was awarded AWS Partner Network (APN) Select Technology Partner status and works closely with AWS Solutions Architects to redesign Synergy's micro-services architecture (capacity for 2M+ participants) and to integrate IoT and blockchain services.
- Fukushima Renewable Energy Institute, AIST (FREA) and Aizu LabminorResearch collaboration in Fukushima, Japan around demand response (DR) and P2P energy trading. Hardware deployment to 300 households to match consumption load with FREA's wind and solar generation.
Scale indicators10 records
Recent moves6 records
Expansion highlights7 records
Electrify competitors and assessment
Company assessmentDirect peers
- Piclo: UK-based independent matching platform for renewable energy trading, operating in jurisdictions such as the UK and Australia. Comparable to Electrify's Synergy as a software/algorithm layer that matches generators and consumers; directly relevant for utility-scale P2P and group buying.
- SunContract: Slovenia-based peer-to-peer energy trading platform that uses blockchain tokens to enable households and businesses to buy and sell renewable energy directly. Direct comparable to Electrify's prosumer-to-consumer P2P energy trading model.
- Energy Web Foundation: Non-profit building open-source blockchain infrastructure and operating tools for the energy sector, including a decentralised operating system for grid assets. Adjacent competitor to Electrify's ELEC token/Synergy blockchain settlement layer.
- Electron (ElectronConnect): UK-based blockchain infrastructure company building flexibility and metering products for the energy sector, including a meter registration platform. Comparable to Electrify's blockchain + IoT stack and target customers (utilities, DNOs, energy service companies).
- WePower: Blockchain-based platform for green energy trading and tokenised PPAs/renewable energy certificates. Comparable to Electrify in the use of blockchain for energy settlement and in target customer (utilities and corporate renewables buyers).
- LO3 Energy: Pioneer in peer-to-peer energy trading, known for the Brooklyn Microgrid project. Competes with Electrify in building P2P trading infrastructure and is a direct comparable in product category, although LO3 has historically focused on micro-grid deployments.
- Power Ledger: Australia-headquartered peer-to-peer energy trading platform that uses blockchain to enable prosumers and consumers to trade rooftop solar and other distributed energy. Direct competitor to Electrify's Synergy platform across Asia-Pacific, with similar enterprise sales motion targeting utilities.
Broad incumbents
- SP Group: Singapore's national grid operator and dominant electricity retailer. Incumbent that competes with Electrify.SG Marketplace for residential and C&I customers, and whose cooperation is required for any city-wide P2P deployment in Singapore.
- ENGIE (incl. Senoko Energy, ENGIE Factory): Global utility and low-carbon energy major that owns Senoko Energy and operates ENGIE Factory, both of which are partners and (potentially) customers of Electrify. Broad incumbent with the balance sheet to build or acquire in-house P2P capabilities.
Emerging players
- Enosi (Energy Align): Australian energy software company building P2P renewable energy trading and energy data solutions for utilities. Emerging player with overlapping technology and target customers, particularly in the Australia and broader APAC market where Electrify is also expanding.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Electrify social profiles
Digital presenceElectrify financial estimates
Financial estimateRevenue estimate
Valuation estimate
Electrify leadership team
Management profileNumber of profiles
Profiles10 records
Electrify subsidiaries and ownership
Company hierarchySubsidiaries1 record
Electrify funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Electrify M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Electrify
What does Electrify do?
Electrify operates two interconnected businesses: (1) Electrify.SG, Singapore's first retail electricity marketplace that lets residential, commercial and industrial consumers compare and switch electricity retailers on a single cloud platform, and (2) Synergy, a patent-pending peer-to-peer energy trading platform with a proprietary matching engine that dynamically allocates green energy from prosumers to consumers across city-wide utility grids. SolarShare is the commercial pilot deployment of Synergy, launched in Singapore in collaboration with Senoko Energy and ENGIE Factory, and is also being deployed internationally with partners such as GPSC in Thailand.
Is Electrify a public or private company?
Electrify is a private company. It is classified as venture growth investor backed and is currently operating.
When was Electrify founded?
Electrify was founded in 2017. It employs 11 to 50 people.
Where is Electrify based?
Electrify is headquartered in Singapore, Singapore, in the Asia region.
How does Electrify make money?
Four revenue lines are on record. Electricity marketplace transactions (Electrify.SG) is the primary driver. The others are synergy platform deployment with utility/industrial partners, solarShare pilot energy sales and ELEC token transactions (planned).
Who are Electrify's main competitors?
Direct peers on record are Piclo, SunContract, Energy Web Foundation, Electron (ElectronConnect), WePower, LO3 Energy and Power Ledger. Broad incumbents are SP Group and ENGIE (incl. Senoko Energy, ENGIE Factory). Enosi (Energy Align) is listed as an emerging player.
Does Electrify have an API?
No public API is recorded for Electrify.
What industry is Electrify in?
Electrify's product category is Retail Electricity Marketplace / Peer-to-Peer Energy Trading Platform. Its primary akta.pro industry code is EUAMAJAC, DER Aggregation & Virtual Power Plants (VPPs), with a secondary code of EUAGABAI, Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR). Its NAICS code is 221114 and its SIC code is 4911.