EDP launches a new edition of Free Electron in search of the most innovative startups
The goal, to receive more innovative and promising suggestions from startups of the energy sector.
EDP, in collaboration with the main energy companies at a global level, searches emergent companies that can contribute to a more sustainable planet, through ideas and innovative solutions. With this goal of finding more differentiating projects, it opens this week the registration period for the 7th edition of Free Electrons, the biggest innovation program in the world in the energy sector.
As a global program of open innovation, Free Electrons will be focusing on the possibilities of projects’ and business’ development among startups and industry stakeholders. The goal is to find solutions that may impact energy transition, in areas like renewable energies, smart networks, energy management, sustainable mobility, energy storage, flexibility, green hydrogen or decarbonization. The applications can be presented until January 28 in www.freeelectrons.org
To EDP, open and corporate innovation with the different sector’s agents is a priority in order to develop the needed technologies and solutions to accelerate energy transition. The chosen candidates for this new 2023 edition will have unlimited access to different business units of Group EDP, that is present in 29 markets, and will also have specialized equipment with which they can test their solutions. It is also an opportunity to improve their commercial strategy.
The results of previous editions proof Free Electrons’ success and effect, as well as its impact in EDP’s business. In five years, the company has already invested more than 37 million euros in pilot projects, investments and business with startups that have taken part in the program.
After the submission of candidacies, there will be a review process, that will take place until February 28, when a group of startups will be invited to participate in an online pitch, that will be developed from March 13. This event will resolve the list of startups that will be incorporating personally in the module “Bootcamp” that will take place in Dublin, Ireland, from May 15. In this four-day-module, the selected projects will present their solutions and equipment to EDP and other utilities, that will decide who goes to the next stage of the program. After the “Bootcamp”, the chosen startups will participate in two modules (of four days) in Sidney, Australia (from July 24), and in Hong Kong or India (from October 16).
The finalists receive orientation and support from sector’s experts, as well as the opportunity to create a contact network. Nevertheless, the greatest value of the program is the opportunity that the startups have to test their solutions and their market potential through million clients of each energy company promoted by Free Electrons. During the course of the programs, participants collaborate closely with different markets’ players, firms with public services, experts and other agents to accelerate the company’s growth.
The unique structure of Free Electrons also enables partners to cooperate with each other in pilot projects, with which startups have the possibility of creating group projects and see thus their business idea grow much faster.
Alex Zorniger, vice president of entrepreneurial development of Power to Hydrogen, winner of Free Electrons in 2022, about the program: “We recommend Free Electrons to any startup that has solutions that, with development, favor the future of green energy”.
Created in 2017, Free Electrons is a program lead by a consortium of companies from all over the world, united with the common purpose of transforming the energy sector and create disruptive and innovative solutions for a cleaner and more efficient energy transition. The companies of this new edition are: American Electric Power (U.S.A.), CLP Power (Hong Kong), E. ON (Germany), EDP (Portugal), ESB – Energy for Generations (Ireland), Origin Energy (Australia). The innovation consulting Beta-I will oversee the management.
