Brazilian startup is selected in EDP's global innovation program
Energy Starter, EDP's open global innovation program for accelerating adoption of technologies that drive energy transition, has selected 8 startups to be part of the program's bootcamp during May 26th and 27th, followed by an Open Day on May 28th, where concrete results of the program are to be shown and also their initiatives. Among the selected, there is the Brazilian startup Fox IoT, from Santa Maria (RS), presenting a solution based in artificial intelligence and using satellite images to identify irregular electrical connections.
The Proof of Concept (PoC) is being developed to be tested in an area of around 50 km² in the municipalities of Vitória and Vila Velha, in Espírito Santo, where EDP is the energy distribution concessionaire, as one of the initiatives to combat non-technical losses. The expectation is that the use of technology will make it possible to reduce losses by approximately 20%, bringing more efficiency and energy gains.
Global open innovation programs are one of the pillars of our innovation strategy, as they enable collaboration and the exchange of knowledge and technology between different geographies and markets. This helps us to always be on the lookout for solutions to our day-to-day challenges, thinking about identifying ways to be more efficient. Having a Brazilian startup among those selected is interesting, as in addition to having the possibility of developing and co-creating a solution to a challenge in our business, the startup also has access to EDP's challenges and teams in other geographies, being able to develop projects that go beyond Brazil”, reinforces Rafaella Fatureto, Innovation Manager for EDP in South America.
This module, dedicated to Future Grids, is the first from the 9th edition of the program, which will still see modules such as Client Solutions, and Renewable Energies and Green Hydrogen. The startup companies selected for this step were Camlin and Volquant (United Kingdom), Earthgrid, Phoenix Boring and Toumetis (United States), Repath (Germany) and Sensewaves (France), along with Fox IoT, from Brazil. Energy Starter's Future Grids bootcamp didn't has a Brazilian startup company since 2022. In the selection process, EDP performed online pitching and monitoring meetings which involved different business units and innovation teams from different locales.
During bootcamp dates of May 26 and 27, the selected companies will have the opportunity to work with EDP to fast-forward the co-development of pilot projects and commercial agreements. On top of that, they might gain access to eventual financial support and benefit from the contact network experience of EDP Ventures, the risk capital society from EDP.
After the bootcamp, the companies begin a collaboration journey with EDP teams to improve, validate and implement the proposed pilot projects. Such actions are wholly financed by EDP and will involve the access to their data and assets, along with continuous monitoring to ensure that the solutions are adapted to the company's needs. The goal is to accelerate the innovating initiatives when it comes to commercial viability, opening way to long-term partnerships that can contribute to boost energy transition.
Open Day, which happens in May 28 in Lisbon, Portugal, with online streaming, will be open to the global energy and innovation ecosystem. During the event, results and impact of EDP's innovation programs and initiatives, as well as how disruptive technologies and projects that can contribute to a faster and more efficient energy transition, will be brought to discussion.
Participants of Open Day include Vera Pinto Pereira, EDP's Executive Administrator and responsible for the group's innovation office; Diana Costa, from EDP's Global Digital Acceleration team; and António Coutinho, from EDP's Innovation team. The full program and registration form can be found here.
Considering all innovation projects with startups, as well as the Energy Starter program, EDP has reached considerable results: there has been over 150 pilot projects, 40 commercial implementations, 30 risk capital investments and circa 140 mi Euro in business deals.
Learn more about the 8 selected startup companies:
- Camlin (United Kingdom): online monitoring to anticipate critical failures in strategic assets, such as power transformers.
- Earthgrid (United States): plasma tunneling technology to build underground energy infrastructure.
- Fox IoT (Brazil): AI platform to detect irregular electric connections using satellite images.
- Phoenix Boering (United States): multi-tool technology to build underground power lines with no need for pit excavation.
- Repath (Germany): climate risk assessments in regards to assets and adaptation paths directed to more resilient power grids.
- Sensewaves (France): platform that provides a 100% precise model of a power grid, providing visibility on energy flows and bottlenecks.
- Towmetis (United States): triggered prevention alerts about asset flaws before service disruptions occur, through grid data analysis.
- Voltquant (United Kingdom): AI-powered virtual assistant for energy businesses, improving productivity of planning teams.
ADD TO YOUR CALENDAR
Open Day Energy Starter: Co-innovation on Energy Transition
When: May 28th, Wednesday
Where: Time Out Market, Lisbon, Portugal, with online streaming
Full schedule and how to participate: click here
More information about Energy Starter: https://theenergystarter.com.