Powerledger

Powerledger is an energy software company, founded in Perth, Australia, in 2016, that builds tools to track, trace and trade renewable electricity. Its two main products are peer-to-peer (P2P) energy trading, which lets solar owners sell surplus power to neighbours, and TraceX, a marketplace for renewable energy certificates (RECs). Since October 2024 every Powerledger platform has run on Solana. Its POWR token exists natively on both Solana and Ethereum. Its customers are mostly utilities, registries and corporate energy buyers rather than crypto traders. As of October 2026 the company is still operating: it launched Transactive Lite in March 2026 and posts regularly about local energy markets.

Is Powerledger still active? What happened to Power Ledger

Yes. Powerledger is still trading as a company in October 2026. People ask because the POWR token trades far below its 2018 peak: CoinGecko records an all-time high of $1.89. The other reason is that the company has moved off Ethereum and its own chain onto Solana.

The evidence of activity is recent and primary. In March 2026 Powerledger launched Transactive Lite. Through September and October 2026 its X account kept posting about grid congestion. One post, on 8 October 2026, pointed to the IEA's ASEAN energy security review and said local energy trading had worked in Thailand and Malaysia.

One sign of a slower pace: the company blog has had no new post since April 2026. Most updates now go out on X and through co-founder Jemma Green's podcast, which the website features.

How Powerledger works on Solana

Power grids used to rely on a few big power stations. Now they must handle millions of rooftop solar panels and home batteries. According to its website, Powerledger builds software for the jams and swings this causes. Utilities, governments and firms get tools to run local energy markets and keep clear records of each trade.

The company argues that the panels and batteries already exist. What is missing is a market that can price and settle power between many small sellers and buyers, by time and place.

Solana keeps the records. Powerledger's blockchain page says "every Powerledger platform runs on Solana". Meter readings, trades and certificate transfers are stamped with time and place on-chain. That gives a trail that users and regulators can check. The energy itself still flows over the existing grid. POWR is the licence and access token for businesses that run the platform.

Powerledger peer-to-peer energy trading: Transactive and Transactive Lite

Powerledger's main product, Transactive, lets homes and firms with solar panels sell spare power straight to their neighbours. Without it, that power goes back to the grid at a price the utility sets. The website also lists smartCOMMUNITY, a real-time P2P trading and tracking product.

In March 2026 the company launched Transactive Lite. It is a simpler, batch-based version that works from existing meter data rather than real-time connections, and the company says it can be deployed in days rather than months. It matches generation to demand, handles carbon accounting and ESG reporting, and writes an audit trail to Solana. Powerledger pitches it for pilots that can later move to the full real-time platform, and says both use the same trading logic.

TraceX: renewable energy certificate (REC) trading

TraceX is a marketplace for RECs and other energy attribute certificates. It offers real-time price discovery, built-in payments and a blockchain audit trail.

It is integrated with M-RETS (the Midwest Renewable Energy Tracking System), which Powerledger describes as the largest voluntary REC registry in North America. The partnership was announced in January 2020. Sellers link their M-RETS account and pull in certificates to list. Each one stays locked in M-RETS while it is listed, so it can't be sold twice. Once the buyer pays, it moves to the buyer's account.

Powerledger reported that more than 1.2 million RECs were traded on TraceX in January 2025. It named ERCOT and NAR as planned registry expansions.

Energy tracing and carbon scoring

Powerledger also sells software that shows where a customer's power came from. In Greece it built a tool for Metlen (once called MYTILINEOS) and its retailer Protergia to track clean-power supply deals. The case study says users see their carbon footprint every 5 to 15 minutes. They also get a "carbon-free energy score": the share of the power they used that was matched with clean supply. Powerledger says it was the first tool of its kind in Greece.

The website also lists xGrid, Vision and PPA Vision, along with portfolio tools for 24/7 renewable matching, EV charging and hydrogen tracking.

Powerledger deployments in India, Thailand, Austria and Greece

Powerledger says it operates in more than 10 countries. Named projects on its website include:

• India: Calcutta Electricity Supply Corporation, which the company calls its largest P2P trading project, with more than 1,000 participants. Also Tata Power-DDL, for P2P solar trading across more than 150 meters in North Delhi. The company says its India work helped bring about regulatory changes there.
• Thailand: the T77 precinct in Bangkok with BCPG and the Metropolitan Electricity Authority (MEA), trading rooftop solar between buildings since 2018. Daily solar generation grew from 2.8 MWh across four buildings to 4.2 MWh across seven, per the case study. MEA uses Powerledger's metering data for customer billing. TDED is also listed as a Thai client.
• Austria: Energie Steiermark, for its smartCOMMUNITY monitoring and trading project.
• Greece: Metlen and Protergia, for energy tracing (above).
• North America: M-RETS, through TraceX.

Other names on the client list include Tata Power, BSES, ekWateur and Elia Group.

Powerledger token (POWR): Solana, Ethereum and the move from its own chain

POWR launched in 2017 as an ERC-20 token on Ethereum. Powerledger's 2017 whitepaper set out a two-token model. POWR acted as an access token, similar to a software licence, for platform operators. A second token, Sparkz, represented energy traded locally and could be converted to cash, according to a Norton Rose Fulbright summary. The token sale opened on 27 August 2017, and more than 90 million tokens were sold within days. RenewEconomy reported that the presale raised about A$17 million. It is widely described as Australia's first ICO.

Powerledger later ran its own blockchain, which its 2023 lightpaper described as a fast, low-cost public network. On 1 October 2024 the company began deprecating that chain and moved to Solana mainnet. It announced the completed integration on 13 October 2024. Co-founder John Bulich gave Solana's lower fees and faster processing as the reasons. Powerledger also retired its POWR staking platform: staked tokens were unstaked on 1 October 2024 and could be withdrawn after seven days. There is no official POWR staking today.

POWR now exists as an SPL token on Solana (POWR) and as an ERC-20 on Ethereum (contract 0x595832F8FC6BF59c85C527fEC3740A1b7a361269), per the official blockchain page. The migration created no new supply: Ethereum POWR was locked to match the tokens minted on Solana. Holders did not have to move.

Powerledger later adopted Wormhole W$0.011+1.4%'s Native Token Transfers (NTT) framework for cross-chain transfers. NTT burns POWR on the source chain and mints it on the destination chain, so there is no wrapped version. The August 2025 case study says transfers run through the Wormhole Portal interface. On Solana, the company lists Raydium RAY$1.79+9.1% and Jupiter JUP$0.264+3.8% as places to trade POWR. POWR is still used to license and access Powerledger platforms. The blockchain page also describes "embedded utility" across the company's ventures portfolio.

Who Powerledger is for

Powerledger is built for utilities, grid operators, energy retailers, REC registries and large energy buyers. It fits best in two cases. One is a utility that wants to test P2P trading using the meter data it already has. The other is a REC seller in the M-RETS registry that wants to get paid faster. Either way, the buyer must be happy to use a vendor's platform, not an open protocol.

It is not a DeFi app for retail users. A household can only trade power through Powerledger if its utility or community operator runs the platform. Holding POWR gives a retail investor exposure to the token, not a share of the company or its revenue.

Is Powerledger safe? Risks and limitations

• No published Solana audit. Powerledger has not published a smart-contract audit for its Solana deployment, and Compass has no on-chain program addresses on record for it.
• Bridge dependency. POWR's movement between Ethereum and Solana relies on Wormhole NTT. A fault in that bridge setup would affect the token on both chains.
• Token is not equity. Powerledger is a private company and is not listed on any stock exchange, according to Forge Global. POWR is a utility token. Its value depends on platform demand and the market, not on company earnings.
• Customer concentration and regulation. Revenue comes from a small number of utilities and registries, and P2P trading only works where regulators and grid owners allow it. Several named deployments are small, such as T77's seven buildings.
• Centralised operator. The trading platforms are run by Powerledger and its clients. The blockchain records the activity, but users trust the operator for meter data and settlement.

Powerledger alternatives

Few Solana projects do the same job. The closest are energy networks such as Sourceful Energy, which links home solar and batteries into one large virtual power plant. Those pay device owners in tokens. Powerledger sells software to utilities instead. Outside crypto, it competes with energy software firms and with the trading tools that registries run themselves.

Powerledger team, founders and history

Dr Jemma Green is co-founder and executive chair. She worked in investment banking at J.P. Morgan in London before a PhD on electricity market disruption, which the company credits as the origin of Powerledger. She was named Australia's EY Fintech Entrepreneur of the Year. John Bulich is co-founder and technical director.

Founded in Perth in 2016, the company raised its 2017 token sale in Australia, moved through Ethereum and its own chain, and settled on Solana in 2024. In 2024 it was listed among the top 50 companies in Switzerland's Crypto Valley (Zug), and it has won a Renewable Energy Markets award for innovation.

Powerledger is one of the older enterprise real-world-asset projects on Solana. It uses the network for its token and as a low-cost audit and settlement layer for energy market data.