10 May 2021
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2 min read
A breakout space at Sustainable Ventures | Credit: Sustainable Ventures
Established and emerging companies encouraged to apply to take part in four month programme
Engineering giant Schneider Electric and clean tech hub Sustainable Ventures have teamed up to launch a funding competition for entrepreneurs looking to scale "open energy" technologies and solutions.
Launching the new competition today, the partners urged start-ups and established companies working on innovative technologies that leverage data and digitalisation in the nascent and inter-disciplinary field of "open energy" to apply.
Eligible projects could include technologies that boost monitoring, prediction, and management of electric vehicle infrastructure, smart grids, and other solutions crucial to the net zero transition, or tools that optimise energy use at data centres, substations, and office buildings, they said.
Successful applicants will take part in a four-month programme that kicks off on 2 August, during which they will have a chance to undertake fully-funded trials and proof of concepts of their technology. The winning company or companies will then have a chance to scale-up and commercialise their solution in partnership with Schneider Electric.
Katie Mills, head of innovation at Schneider Electric, said "open energy" systems would be critical to achieving a net zero emission economy. "As 2050 draws closer, we understand the critical need for open energy systems," she said. "This competition has been designed to develop and go-to market with the best innovative solutions as quickly as possible."
"Decarbonisation effects all aspects of the economy, transport, business and our homes," Mills added. "To meet the net zero targets, we must become smarter, better connected and more efficient. Fundamentally, we must have a better understanding of how our energy is used across sectors to drive sustainability.
The competition, which is open to both established and emerging companies, follows the launch last year of a separate competition from the partners for smart home technologies.
Arsha Branson, head of innovation services at Sustainable Ventures, said the programme was a "unique opportunity" for innovators and start-ups, noting that three of the companies that took part in 2020's competition had clinched a commercial contract with Schneider Electric.
"This programme represents a unique opportunity for innovators and scale-ups," she said. "By the end of 2021, they could be working with one of the largest players in the energy sector to achieve rapid scale-up and mass-market deployment."
The application window for the open energy competition closes on 9 June. Shortlisted applicants will be invited to attend a pitch day on 29 June, and four companies will be selected to take part in the programme.
