Major kitchen manufacturer joins UrbanChain’s P2P energy exchange

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Premiere Kitchens is set to reduce energy costs and bolster its net zero ambitions after joining the rapidly growing peer-to-peer energy exchange

The UK’s first provider of peer-to-peer (P2P) energy has introduced Premiere Kitchens to its growing trading platform.

UrbanChain, through its network of renewable electricity generators, is now enabling the supply of 100% green energy to Premiere’s 110,000 sq ft factory and offices.

Premiere, part of the Markey Group, says the switch to UrbanChain’s P2P energy exchange will see a reduction of up to 300 tonnes of carbon dioxide equivalent, based on the latest UK Government emission conversion factors.

Every year Premiere typically uses around 1.5 million kiloWatt hours (kWh) of electricity to produce 150,000 kitchen units.

Markey Group MD Paul Markey said: “UrbanChain’s P2P exchange is a remarkable platform that connects renewable energy generators to corporate consumers like us. And we are delighted to have signed this renewable energy contract to power our factory and offices.

“The Markey Group takes its environmental responsibilities very seriously and becoming part of this trading platform is the best move we could have taken, not just due to the carbon neutral goals we have in place but because we want to inspire more businesses to follow suit.”

He added: “Every kitchen that rolls off the assembly line will now be made with 100% renewable energy and we have already delivered our first sustainably produced kitchen to our long-standing customer, Bristol City Council.”

Manchester headquartered UrbanChain currently manages +150GWh (gigawatt hours) of power and has over 1.2TWh (terawatt hours) in the pipeline, ready to connect to corporate consumers.

The company last month closed a £5.25m Series A round led by leading global investment firm Eurazeo and has previously received significant investment from Innovate UK and the Department for Energy Security & Net Zero.

CEO Somayeh Taheri said: “We’re thrilled to have Premiere Kitchens onboarded in our P2P exchange.

“The Markey Group is committed to its net zero objectives while reducing its energy costs and we are pleased to be enabling this through our integrated blockchain and AI trading platform.

“We firmly believe that UrbanChain is the future of electricity markets and look forward to working with more companies like Premiere, that want to consume clean and green energy.

Somayeh Taheri, CEO, UrbanChain

For more about UrbanChain and Somayeh, who is available for media contributions, click here