Free Electrons announces reLi Energy as startup of the year in the 2024 edition
After the bootcamp organised by EDP in May this year, 15 startups advanced to the Master Module and to the grand finale, which concluded during an event in Hamburg, Germany.
Free Electrons, the world's leading open innovation programme in the energy sector, concluded its 8th edition, carried out throughout 2024, at an event held in Hamburg, Germany and already announcing the opening of candidates for 2025. EDP, together with the other utilities responsible for carrying out the programme (CLP, E.ON, ESB, Jera, Hydro Quebec and Origin), participated in the choice of the startup highlighted in this edition. The startup of the year was reLi Energy, recognized for its revolutionary innovation in optimising energy storage systems with a special focus on improving battery performance, extending its operating life and maximising financial return for companies.
In the 2024 edition of Free Electrons, startups were encouraged to propose innovative solutions to the main challenges of the energy industry. The programme attracted more than 1,000 applications from more than 75 countries, reinforcing its global impact. In its initial phase, 60 startups participated in a digital presentation event (pitch event), showcasing their innovations to partners in the energy sector. After careful evaluation, 30 were chosen to participate in the Bootcamp, which took place in Madrid, Spain, organised by EDP, where the first conversations about pilot projects began to be explored, creating opportunities for future partnerships. From this event, 15 prominent startups followed the Master Module in Montreal, Canada, organised by Hydro Quebec, where discussions on pilot projects carried out in more detail. And finally, the Free Electrons journey concluded with the Grand Finale in Hamburg, Germany, promoted by E.ON, where concrete collaborations between utilities and startups were announced.
In this last event, called Open Day, Free Electrons brought together more than 250 representatives from the energy, logistics and venture capital sectors, to address the theme "The Scaling Challenge". Recognised participants in different areas, including António Coutinho, CEO of EDP Innovation, shared insights on large-scale innovation, with the aim of promoting strategic connections and inspiring discussions.
During this edition, Free Electrons also awarded the Akimoto Award to Jonathan Carrier, Co-Founder and CEO of Alley Energy, a recognition aimed at professionals who excel in promoting and cultivating new ideas.
Registration open for 2025
The closing of the 2024 Free Electrons program coincided with the opening of the application phase for the next edition that takes place throughout 2025, offering new opportunities for startups that want to impact the future of the energy sector. Top global utilities are looking for mature, with innovative projects and scalability potential, with solutions focused on the biggest energy challenges. In total, there will be nine strategic focus areas aligned with the energy sector: Next Generation Renewable Energies, Energy/Data Management, Asset Optimisation, Thermal Solutions, Grid Planning, Optimisation and Stability, Energy Storage, Connected and Involved Customers (B2B and B2C), Mobility and Electrification of Transport and others (open to other solutions).
Applications are open until 24 January 2025 and can be made through the Free Electrons website at https://freeelectrons.org/.
EDP on Free Electrons
EDP, committed to leading and accelerating the energy transition, is one of the founders of the Free Electrons programme and includes this initiative in 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. The current Free Electrons startup of 2024, reLi energy, has already signed a pilot project with EDP.
Since its participation in the programme, EDP has developed more than 60 pilot projects, with a total investment of almost 2 million euros. In addition, more than 10 startups have signed commercial contracts with EDP, totaling more than 35 million euros. EDP Ventures, EDP's venture capital arm, has also invested in 15 startups that have participated in Free Electrons over the last years, totalling more than 15 million euros. EDP is currently working with 7 of the startups participating in the program in this 2024 edition, which has now closed.
"By actively participating in initiatives such as Free Electrons, EDP not only promotes innovation in the sector, but also builds strategic partnerships that have the potential to transform the future of clean energy on a global scale," says Tomás Moreno, director of EDP's Innovation Ecosystem. "For the next edition, we want to continue to look for disruptive solutions that support us in the challenges of the energy transition", concludes Tomás Moreno.
Free Electrons is the leading global open innovation programme in the energy sector, dedicated to driving market transformation and promoting organisational growth. By connecting innovative startups with leading utilities in the energy sector, Free Electrons offers a robust platform to accelerate collaboration. These partnerships enable the design and implementation of cutting-edge solutions, enabling startups to effectively scale while providing public services with access to new technologies. Together, these efforts aim to propel us towards a sustainable energy future.
