26 Jun Free Electrons: the accelerator program for Energy Start-ups
If you work in the energy sector and you are in a Startup or a Utility, you may already know this accelerator program for Energy Startups, Free Electrons.
In this article, we’ll tell you what this accelerator program consists of and why it has aroused so much interest among Energy Start-ups around the world…
What is the Program Free Electrons
As we all know, the energy market has undergone major changes in recent years as a result of the increase in renewable energies, the decentralisation of the energy system, new regulations relatedto sustainability and climate change, and of course we cannot forget that we are in the midst of a digital transition era.
All of this reflects the need for an innovative and intelligent energy transition, and the world’s major utilities and energy traders have realised it. So, in order to innovate and add value to their business models, they came up with the idea of the Free Electron Program.
10 Utilities from all over the world, including EDP, SP Group or CLP amongst others, are in charge of its organization. If you want to know the complete list, go to the “Who we are” section in the official website.
Okay, and now, let’s get straight to the point, what does this program consist of?
Free Electrons is a program intended to accelerate innovative ideas from Energy Start-ups around the world. It aims to give a boost to proposed technologies and solutions focused on the sectors of renewable energy, energy efficiency, energy digitization, electric mobility and real-time customer service.
Thanks to this accelerator program, the selected Startups will have the opportunity to present their solutions and deploy them in different pilots around the world.
But how can your Startup participate?
First, you must register your Startup to the program through the official website. Registrations usually open early January and close at the end of February.
A first selection is made from all registered Startups to determine which ones will participate in the first module, known as Bootcamp. In 2019, for example, a total of 481 Startups from more than 60 countries were registered. The Top 30 Startups showcased their solutions and their teams during this module, in order to be selected among the 15 finalists.
And here comes the best part of Free Electrons, the next 3 modules, which last approximately one week, and take place between May and September 2019:
- Module 1 – Columbus, Ohio: The objective of this first module is to match solutions with concrete challenges and define a collaboration roadmap for the first pilot among startups and utilities.
- Module 2 – Hong Kong: The objective of this second module is to define the scope of potential pilot projects, present to all Utilities and Startups the progress that were made on their first pilot and go forward with commercial transactions and/or investment contracts.
- Module 3 – Lisbon: This last module focuses on concluding negotiations of pilot projects as well as the definition of scaling prospects.
The Energy Startup that will become the “Free Electrons World’s Best Energy Startup”, will receive a prize of 200.000 dollars, without conditions.
6 Reasons why your Energy Startup should participate in Free Electrons
Sounds interesting, doesn’t it? Well, look at this list of 6 reasons why Energy Start-ups around the world register every year:
- To be able to work side by side with 10 important energy Utilities from all over the world.
- Make your energy solution known globally.
- Conduct pilots in different geographical areas of the world.
- See what is happening in the global energy sector.
- Know the challenges faced by the sector in different geographical areas.
- Get funding for your project, thanks to the final prize of 200.000 USD.
There are many other reasons why this is an important accelerator program for energy start-ups. After reading what Free Electrons is, you’re probably really interested to register your Startup for the next edition.
DEXMA, one of the Finalist of the Free Electrons World’s Best Energy Startup 2019
Free Electrons 2019 is the 3rd edition of this accelerator program for energy startups, in which DEXMA has been selected among 15 finalists from all over the world.
DEXMA’s innovative project, also known as DEXMA Detect, focuses on the development of a management and energy efficiency software based on Artificial Intelligence. Thanks to IA, this innovative software detects the potential energy savings of each building, making it easier to identify hidden savings. And all without the need to install any hardware or perform on-site audits.
The solution presented aims to improve not only energy savings but also to reduce CO2 emissions.
If you want to know more about the project “DEXMA Detect” contact our R&D Director, Miguel Cruz.
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