After the launch of the first module in May, EDP is now launching the second phase of the collaborative innovation program, with the aim of developing innovative solutions in renewable energies and green hydrogen for the global energy transition. Applications for startups are open until September 30.
EDP has just launched the second module of the Energy Starter 2022 program, the collaborative innovation program created with the mission of introducing startups and fast-growing technology companies (scaleups) to EDP specialists from around the world. This program, which already had the first module in May focused on the Energy Networks of the Future, aims to accelerate the development of innovative solutions that contribute to the energy transition.
In the second phase of this edition, projects with innovative solutions that can be applied to different renewable energies can submit their applications. Renewable sources are technologies in which EDP is a global leader, with about 20GW installed and with the goal of doubling this capacity by 2025. Startups can also present solutions that contribute to the development of green hydrogen, a fast-growing technology in which EDP has also positioned itself, with the development of projects in its main geographies. In this area, EDP intends to invest in projects that guarantee an additional 1.5 GW of capacity by 2030.
Through a-three phases approach, the seventh edition of Energy Starter focused on three key areas in the energy transition panorama. The first module focused on the Energy Grids of the Future and aimed to leverage the energy distribution grid infrastructure with innovative solutions. In 2023, the third and final module of this edition will focus on Customer Solutions that can help their decarbonization process.
Applications for this second phase can be submitted until September 30 on the program's website. After the evaluation process, those selected will participate in a bootcamp in Houston, United States, where, together with EDP and EDP Renewables’ specialists, they will be able to develop their ideas and work on pilot projects. At this stage, they will also have access to a wide range of mentors and experts who will help them develop their businesses. At the end of this edition of Energy Starter, the startups will have the opportunity to test their solution in the energy sector, in partnership with EDP, in the different countries where the group is present.
Throughout its six editions, more than 150 startups have participated in Energy Starter, having completed more than 80 deals (pilots, rollouts, and investments). In the last edition, the program received more than 700 applications.
Developing and finding innovative solutions for the energy sector has been a pillar of the EDP group, which intends to invest one billion euros in innovation by 2025. EDP has teams dedicated to Startup Engagement and Ventures in some of its main markets and is dedicated to the development of Open Innovation, with dozens of startups and academic partners, among others, being part of its innovation ecosystem.