The latest company to invest in a Blockchain startup is Tokyo Electric Power Company (TEPCO).

Announcing the news that they had invested in blockchain startup, Electron, the two companies are allegedly planning to develop and improve the use of technology within energy distribution. A press release, published on 19th January, said that the companies aim to create and maintain a more efficient, effective and reliable system.

TEPCO\'s managing executive officer and chief of global innovation and investments, Shin-ichiro Kengaku confirmed that the company was hopeful and excited to work with UK-based Electron, in order to investigate how Blockchain and its technology could positively affect the energy market. He concluded that TEPCO believes it is of the utmost importance to find new working opportunities, like this.

TEPCO, the Japanese electric utility holding company, has been interested in Blockchain technology for many years, most notably after an earthquake and subsequent tsunami destroyed its Fukushima Daiichi nuclear power plant in 2011. Moreover, TEPCO also revealed last year that they had joined forces with ethereum startup, Grid+ to create a system that permits consumers to pre-pay for power.

This latest Blockchain news comes after, TEPCO joined the Energy Web Foundation in May, a non-profit enterprise that promotes the use of Blockchain within the energy industry.