AssetCool wins startup of the year at the 2025 edition of Free Electrons
Following the bootcamp with 30 startups held this year in Sydney, 15 advanced to the Master Module and reached the grand finale, which concluded during an event in Dublin, Ireland.
Free Electrons, the world’s leading open innovation program in the energy sector, wrapped up its 9th edition, developed throughout 2025, at an event held in Dublin, Ireland, and announced the opening of applications for 2026. EDP, along with the other utilities responsible for organizing the program (CLP, E.ON, ESB, Jera, Hydro Quebec, and Origin), participated in selecting this year’s winning company.
The startup of the year award went to AssetCool, a UK-based startup that develops technological solutions to support the energy transition, including an innovative coating that helps mitigate grid overload, aiming to increase capacity, improve resilience, and pave the way for a more sustainable future.
In the 2025 edition of Free Electrons, startups were challenged to present innovative solutions to the energy industry’s main challenges. The program attracted over 700 applications from 86 countries, reinforcing the global impact of this initiative.
In the initial phase, 60 startups took part in a digital pitch event, where they presented their innovations to partners from the energy sector. Following a thorough evaluation, 30 were selected to participate in a Bootcamp held in Sydney, Australia, organized by Origin. It was during this stage that the first conversations around pilot projects began to take shape, creating opportunities for future partnerships. From this event, 15 startups advanced to the Master Module, which took place in Hong Kong, China, hosted by CLP, where discussions around pilot projects were further developed. Finally, the Free Electrons journey culminated in the Grand Finale, held in Dublin, Ireland, and hosted by ESB, where concrete collaborations between utilities and startups were announced.
At this final event, known as the Open Day, Free Electrons brought together more than 250 representatives from the energy, logistics, and venture capital sectors. During this edition, the program also presented the Akimoto Award to Karina Yamamoto, co-founder of Gridbrid. This award honors program participants who stand out for inspiring and encouraging others, fostering new ideas, mentoring startups, and embodying the spirit of open innovation and collaboration—core values of the Free Electrons ecosystem.
Applications now open for 2026
The conclusion of the 2025 Free Electrons program coincided with the launch of the application phase for the next edition, which will take place throughout 2026. This new phase offers opportunities for startups aiming to make an impact on the future of the energy sector. The world’s leading utilities are looking for mature startups with innovative projects, scalability potential, and solutions focused on the industry’s biggest challenges.
There are nine strategic focus areas aligned with the energy sector: next-generation renewable energy, energy and data management, asset optimization, thermal solutions, grid planning, optimization and stability, energy storage, connected and engaged customers (both B2B and B2C), and mobility and transport electrification.
Applications are open from October 17 until January 31, 2026, and can be submitted through the Free Electrons website at https://freeelectrons.org.
EDP at Free Electrons
EDP, committed to leading and accelerating the energy transition, is one of the founding members of the Free Electrons program and integrates this initiative into its global innovation strategy. By investing in startups with disruptive solutions, the company reinforces its vision of accelerating the development of technologies that drive sustainability and energy efficiency.
Since joining the program, EDP has developed more than 60 pilot projects, with a total investment of nearly 2 million euros. In addition, over 10 startups have signed commercial contracts with EDP, amounting to more than 35 million euros. EDP Ventures, the company’s venture capital arm, has also invested in 15 startups that participated in Free Electrons over the past few years, totaling more than 15 million euros.
“EDP’s participation in Free Electrons reflects our commitment to innovation and global collaboration to accelerate the energy transition. Initiatives like this allow us to identify disruptive solutions and establish strategic partnerships with the potential to redefine the future of clean energy. That’s also why we will continue to be part of the next edition — so that together, we can keep accelerating the energy transition,” says Tomás Moreno, Head of EDP’s Innovation Ecosystem.
Free Electrons is the leading global open innovation program in the energy sector, dedicated to driving market transformation and promoting organizational growth. By connecting innovative startups with leading energy companies, Free Electrons offers a strong platform to accelerate collaborations. These partnerships enable the design and implementation of cutting-edge solutions, allowing startups to scale effectively while providing access to new technologies. Together, these efforts aim to foster a strategy focused on a sustainable energy future.