edp news

Hong Kong’s leading energy investor CLP joins Free Electrons

Tuesday 08, May 2018
Companies -Edp Group

1st Module of the global startup accelerator launches today in Australia with Top 15 startups

CLP Holdings Ltd. is joining Free Electrons, the first global energy startup accelerator program that connects the world’s most promising energy startup companies with leading utility companies.

CLP operates a diversified portfolio of generation assets across Hong Kong, Mainland China, Australia, India, Southeast Asia and Taiwan.  With equity generation capacity in operation and under construction of 19,395MW, and long-term capacity purchase of 5,159MW, the CLP Group’s business also includes over 15,6000 kilometres of transmission and distribution lines, and energy retail activities that serve about 5.2 million electricity and gas customer accounts.

“The Free Electrons Accelerator Program enables CLP to work with some of the world’s smartest and most dynamic innovators on solutions to 21st century’s digital energy challenges. With our industry leadership across Asia Pacific markets spanning Greater China to Australia, CLP is excited by the opportunity to partner with the best start-ups to create transformative new energy technologies and applications for individuals, businesses, cities and governments,” said Austin Bryan, Senior Director for Innovation at CLP.

The Free Electrons members now are Ausnet Services (Australia), CLP (Hong Kong), DEWA (Dubai), EDP (Portugal), ESB (Ireland), Innogy (Germany), Origin Energy (Australia), SP Group (Singapore) and Tokyo Electric Power Company (Japan), with also the participation of American Electric Power (USA). The program is supported by Beta-i (Portugal).

1st Module (Australia)

In total, the program received 515 applications, from 65 different countries, a testament to the global reach of this initiative. After a selection process that culminated in the Bootcamp (that took place last April, in Lisbon), 15 startups qualified for the acceleration phase.

The 1st Module starts today, and will take place in Sydney and Melbourne (Australia). The 2nd Module will then move to Silicon Valley (USA), and the final stage, that closes the program, will happen in Berlin (Germany), in October.

Free Electrons structure

Three international modules held across the globe are the cornerstone 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 is a testimony of their commitment to work with startups in building the future of the sector with clean, smart and widely accessible energy.

Free Electrons 2017 generated an overall financial value of contracts signed between the 12 startups and the 8 utilities of about 2 million dollars, with a pipeline of ongoing opportunities surpassing 12 million dollars.