Free Electrons: 28 Pilots Already Launched between Startups and Utilities
11 Juillet 2018 - 11:00AM
JCN Newswire (English)
Free Electrons, the first global energy accelerator program that
connects the world's most promising startups with leading utilities
around the world, has wrapped up its second module with an
impressive total of 28 running pilots with a final module in Berlin
to go.
The program kicked off its 2018 edition with a successful Bootcamp
in Lisbon, followed by module 1 in Sydney/Melbourne, where initial
pilots were scoped between utilities and startups. Module 2 took
place in Silicon Valley, the global tech hub, and focused on growth
and learning.
In module 2, sessions where utilities and startups forwarded their
on-going pilots were key in maximizing performance. The module was
also an opportunity to develop new relationships and opportunities.
In module 1 only one pilot per startup was recommended in order to
insure focus and traction. In module 2 the learnings were shared
and the playing field was open.
Free Electrons allows for utilities to cooperate with each other on
pilots, which is unique, and effective for startups, as they only
have to go through a learning curve with a utility once and allows
for them to scale much faster. To date startups could only have one
pilot, but from now they have the opportunity to work with multiple
utilities.
One such example is between Verv, that created a clever home energy
assistant, and ESB, that has already successfully completed a pilot
with Sterblue, and is now preparing the next steps to apply their
solution to monitoring wind farms. Another example is SOLshare, a
blockchain platform that is doing a pilot with Innogy where a donor
can choose individual users or a predefined group of users (like a
village) to donate energy and a second pilot with Tokyo Electric
Power Company (TEPCO) to develop a technology and implement for
field-testing to enhance data access in DC microgrids.
"We wanted a safe, fast and accurate solution to inspect our wind
turbines to minimize maintenance costs & generator downtime.
Sterblue were super-accommodating of all our requirements.
Sometimes we find it can actually be easier to work with startups
than larger companies because they are more flexible, enthusiastic
and listen intently to their customer's needs", says John
McKiernan, Head of External Collaboration at ESB. "This program
connects us with new companies that we might never otherwise find.
It is a tremendous catalyst for accelerating change and innovation
at ESB", adds John McKiernan.
Module 2 (San Francisco)
The first two days of the module were partially dedicated to
sharing learnings derived from the first 15 pilots underway. This
process is core to the program structure and allows startups and
utilities to build on the experiences of each other.
The third day represented one of the module's high notes with the
Level-Up Energy Innovation event, which presented the Free Electron
participants to the Silicon Valley ecosystem. The 15 startups in
the program were each given the opportunity to showcase their
cutting-edge solutions to an audience comprised of investors and
tech experts.
The module closed with the announcement of the new pilots which had
been defined throughout the week, and an overview of the roadmap
towards the final module in Berlin.
"Naming this program Free Electrons says a lot about the utilities'
shared perspective and view regarding the evolution of power and
energy industry and markets around the world. Electricity as a
commodity will tend to lose value over time, so we need to develop
new business models and new services to add value to our
shareholders, and they will certainly revolve around digital, data
and data management", says Luis Manuel, Executive Board Member at
EDP Innovation.
The Free Electrons members are American Electric Power (USA),
AusNet Services (Australia), CLP (Hong Kong), DEWA (Dubai), EDP
(Portugal), ESB (Ireland), Innogy (Germany), Origin Energy
(Australia), SP Group (Singapore) and TEPCO (Japan). The program is
supported by Beta-i (Portugal).
In total, the program received 515 applications, from 65 different
countries, a testament to the global reach of the initiative. After
a selection process that culminated in the Bootcamp (that took
place last April, in Lisbon, Portugal), 15 startups qualified for
the acceleration phase. The final stage, that closes the program,
will happen in Berlin, Germany, in October.
Structure
Three international modules held across the globe are the
cornerstones of Free Electrons. During the course of the program
participants will work closely with local players, utilities,
mentors and other resources in order to accelerate their company's
growth.
The utilities backing Free Electrons are leading innovation in the
energy sector. This project embodies their commitment to work with
startups in building the future of the sector with clean, smart and
widely accessible energy.
About TEPCO
Tokyo Electric Power Company Holdings, Inc. (TSE:9501),
headquartered in Tokyo, Japan, is the largest utility in Japan
serving millions of homes and businesses. Worldwide the company has
more than 34 subsidiaries and 32 affiliates in 8 countries and
employs approximately 42,060 people. Consolidated revenue for the
fiscal year ending March 31, 2017, totaled 5.3 trillion Japanese
yen. The company was established in 1951 and is listed on the First
Section of the Tokyo Stock Exchange. For more information visit
http://www.tepco.co.jp/en/
About Free Electrons
The Free Electrons Program is the best opportunity for startups in
the energy space to grow and develop their businesses. The energy
market has seen rapid changes in recent years with the rise of
renewables, decentralization of the energy system, regulatory
uncertainties and disruptive new technologies. To stay ahead, there
is a strong need for utilities to source more innovation externally
and consider the 'beyond utilities' business models.
http://www.freetheelectron.com/
Source: TEPCO
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