Siemens Invests in LO3 Energy; Strengthens Existing Partnership

Siemens AG (SIE.XE) said that it has invested in energy-tech company LO3 Energy, strengthening its existing partnership.

In a joint statement Wednesday, the companies said they expect to partner on further projects around the globe, but did not reveal the specific terms of the investment. The existing partnership has been in place since late 2015.

"Siemens' investment in LO3 represents our acknowledgement of the future potential of block-chain technology as an enabler of local energy market places," said Ralf Christian, chief executive of Siemens Energy Management.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

December 20, 2017 03:53 ET (08:53 GMT)