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Third Time’s A (Power) Charm

This is arguably the most exciting Open Innovation Program for the Energy industry in the world. Free Electrons, now in its third edition, has conquered the reputation of contributing to significant advancements in the Energy industry and boosting the growth of the startups that participate in this global program.

Make no mistake, Free Electrons has been designed for greatness from the start. Three years ago, eight energy utilities from all over the globe (AusNet Services, DEWA, EDP, ESB, innogy, Origin Energy, SP Group and Tokyo Electric Power Company) joined forces in a consortium built to push the boundaries of the energy sector, in order to find better and more sustainable solutions. Last year, American Electric Power and CLP have joined the gang, and are now part of the mighty 10 brave utilities.

The track record is unparalleled, both by the innovation injected in the utilities and by the growth achieved by the startups that become part of the big Free Electrons family.

So it comes with no surprise that the third edition, that wrapped up its third module last week, is already set to break some very high Free Electrons standards.

During this last module, startups and utilities had the chance to present the first pilots, after the match that took place in Module 1, with an impressive 27 pilots announced. Startups solutions are now being applied to utilities business challenges.

While on the second module of the program, Utilities and Startups also, based on the progress made on the first pilots, kicked off the development of new pilots and moved towards potential commercial agreements and/or investment contracts. Seven new pilots were announced by the end of Module 2, making the total of ongoing pilots of Free Electrons a mind blowing 41.

Free Electrons Utilities and Startups will now continue to work on their remarkable solutions that will be presented in an open day in Lisbon, on September 19 at Academia das Ciências. Hope you can join us there!