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Most Promising Energy Startups in Europe 2018
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FOREWORD In this leaflet you can find a short introduction of the most promising energy startups in Europe listed by Vaasa Entrepreneurship Society in collaboration with the EnergySpin and the University of Vaasa. Top30 Most Promising Energy Startups in Europe is a student run project. It is a way for students to learn more about evaluating startups and their market potential. The team gathered information from more than 450 energy startups in Europe and made the evaluation. As a result of the evaluation we formed this leaflet which contains the list of TOP30 companies in an alphabetical order. The chosen companies represent various fields of businesses - smart housing, power generation, transportation and energy consumption platforms
On behalf of the Jury for TOP30 2018 Oskari Kaskinen President of Vaasa Entrepreneurship Society
ENERGYWEEK 2018
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THE JURY AND MENTORS THE JURY This year’s jury of the TOP30 energy startups consisted of 15 international bachelor and master’s student of University of Vaasa. The all are business students from various fields such as finance, marketing, international business and strategic business development. This cross-functional and international project was facilitated by three main stakeholders: VES, EnergySpin and University of Vaasa.
VAASA ENTREPRENEURHIP SOCIETY VES has actively taken part in TOP30 Most Promising Energy Startups in Europe -project. We accured as facilitator for the conversation and active team members doing the evaluation. Thorough this project we want to add knowledge about startups and their phases.
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VASEK & ENERGYSPIN ACCELERATOR PROGRAM EnergySpin has been actively facilitating the learning process of students by showcasing business practices and helping students to apply them directly on existing energy startups. The coordinator of this project, on behalf of EnergySpin, was Marko Koski, business advisor at VASEK and the business angels coordinator. He is also one of the organizers of EnergySpin Forum and EnergySpin Accelerator Program.
UNVERSITY OF VAASA The project is linked with the course Startup valuation at the University of Vaasa, where students are learning to assess the potential of startups from the viewpoin of investors. Course coordinator is professor Jorma Larimo from the Academic unit of Marketing and Communication.
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THE SELECTION PROCESS
TOP 30 Energy startups
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Startups STAGE 3
200
Startups
500
Startups STAGE 1
STAGE 2
STAGE 4
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THE SELECTION CRITERIA STRENGTH OF THE ENREPRENEUR AND THE TEAM •Previous experience •Completion of the management team SIZE OF THE OPPORTUNITY •Size of the target market (total sales) •Potential for revelues in 5 years STRENGTH OF THE PRODUCT AND INTELLECTUAL PROPERTY •Level of completion and definition of the product •Attractivity for customers COMPETITIVE ENVIRONMENT •Strength of competitors on the market •Strength of competitve products MARKETING/SALES/PARTNERS •Sales channels, sales and marketing partners
NEED FOR ADDITIONAL ROUNDS OF FUNDING
SOCIAL & ENVIRONMENTAL IMPACT
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Adionics Adionics is a French company created in 2012 after five years of research focused on salt extraction from sea water or brine. The company has patented technology, AquaOmnesÂŽ, tackling the needs of variety of industries and cities. While other desalination solutions extract water from the salt, Adionics does the contrary, which allows the process to be more efficient, sustainable and customizable. Adionics aims to be the leading technology provider in the desalination supply chain.
www.adionics.com
Alfa Solar Energy
www.alfasolarenerji.com
Alfa Solar Energy is a startup based in Turkey that specialises in production of solar energy panels that can be used both, at homes and solar farms. They manufacture high quality monocrystalline and polycrystalline solar panels that are TUV certified and offer a guarantee of 25 years. Their vision is to provide their customers access to sustainable energy sources while gaining significant cost reductions.
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Apateq
www.apateq.com
Apateq, Luxembourg based company developing and manufacturing turn-key, custom designed oil-water separation systems for oilfield operators, compact wastewater treatment plants for demanding applications and pre-treatment systems for industrial wastewaters. Apateq’s goal is client’s satisfaction, environmental protection and water conservation. The company recently received a multi-million Euro order for an industrial size plant from Mörbylånga kommun in Sweden to treat wastewater up to a quality that meets drinking water levels.
BioGTS BioGTS is a Finnish startup that has developed a solution for converting organic waste into energy. The company manufactures patented biogas and biodiesel plants, which end-products are for example vehicle fuel, industrial gas, electricity and heat. The products of BioGTS can be used in diverse surroundings ranging from farms to metropolises. BioGTS aims to offer efficient and environmentally friendly waste management.
www.biogts.com
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Deepki Deepki is a French startup aiming to digitize the energy management of large property portfolios by developing applications that combine data analytics and real estate expertise. Since 2014, Deepki has helped more that 100 customers to streamline the energy management processes for their properties, which lead to lower energy consumption and costs.
https://www.deepki.com
EasySolar App
http://easysolar-app.com/en/
The true essence of digital revolution is the empowerment that was offered to the customer. Smartphones have changed the way we perceive the world and EasySolar app is the answer to that change. Cloud-based, easily accessible solution that allows the user to design the photovoltaic system tailored to his needs with just a touch of a finger. Based in Poland, delivers its solutions worldwide.
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EcoReal Oy EcoReal Oy is a startup based in Finland with expertise in energy efficiency and project management, with competitive advantages in the field of real estate through understanding of customer needs. EcoReal Oy offers overall service for energy consulting. EcoReal Oy also promotes digitization of energy management in real estate by developing an Optiwise application based on IoT technology in co-operation with Core Factory Oy.
https://www.ecoreal.fi
Elestor BV
http://www.elestor.nl
Elestor BV was founded in 2014, in the city of Arnhem, the Netherlands. There are enough renewable sources of energy and advanced technology to harvest them, but the challenge is to create low cost electricity storage. Elestor has created the enabling technology for a 100% clean electricity supply. Elestor’s breakthrough flow battery stores electricity at a fraction of the cost of traditional batteries, safely and with a long lifetime.
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Epoch Wires
https://www.epochwires.com
Expektra
http://www.expektra.com
Epoch Wires is a UK based startup company specializing in manufacturing of superconductor wires using environmentally friendly, abundant and cheap material called Magnesium Diboride (MgB2). The patented technology offers high capacity production of infinitely long wire at the lowest market price. Epoch Wires has a vision of bringing superconductivity to the masses with countless benefits in energy transmission, energy storage, power generation, fusion reactors, accelerators, magnetic resonance imaging (MRI), magnetic levitation and space applications.
Expektra is a swedish company focused on improving and streamlining the management of physical power trading, from forecasting and planning to balancing management and follow-up reporting. Their products use AI and automation for more energy efficient solutions. The company’s mission is to provide innovative products and services for electricity trading business.
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Gradis Gradis is an innovative Polish startup applying Artificial Intelligence algorithms to provide best in class tools to design street and road lighting. They tell what poles to use, where to put them, what luminaires and light sources to choose and how to install them to save both investment and operational costs. Using GRADIS AI Solution with modern LEDs results in operational cost savings reaching 71%.
http://www.gradis.pl/page/en/
Gridhound UG
https://www.gridhound.de/
Gridhound UG is a spin-off from project at RWTH Aachen University. Founded in 2015, this German company develops simple and low-cost solutions for monitoring and control of power distribution systems with cutting-edge tools, allowing efficient grid operation by making the best use of available data. Gridhound solutions enable Distribution System Operators to effectively monitor and control their grids in presence of distributed energy resources with minimal measurement infrastructure.
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Has.To.Be. gmbh Has.to.be gmbh was established in 2013 in Austria, and is creating the future of e-mobility. The company has become Europe’s leading provider for the operation of charging stations with their software be.ENERGISED. , which is used by many well-known brands. Company’s vision is to be the leading service provider for transactions for energy and mobility in Europe. The company believes that they have many opportunities to expand their operations.
https://beenergised.com/
Heindl Energy Gmbh Heindl Energy is a Germany based company developing Gravity Storage. Gravity Storage is a concept with which unprecedentedly large quantities of power can be stored for a long time of 6-14 hours, and can be made available again. The fundamental principle is based on the hydraulic lifting of a large rock mass. The capacity of energy storage reaches 8 GWh or more, comparable to large Pumped Hydro Storage.
https://heindl-energy.com/
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LGM S.A. LGM S.A is a Polish power control technology start-up that provides solutions to save energy. The idea behind LGM S.A is to help customers to get more power out of their electricity generators. Energy generators can give up to 5 times more energy or be 5 times smaller at same power output and LGM S.A is the firm that has the technology to upgrade one’s generator.
http://lgm.io
Nuuka Solutions
http://www.nuukasolutions.com
Nuuka solutions is a Finland based startup company. The Nuuka smart building software solution is the tool your building needs to become more efficient, environmentally-friendly and sustainable. With Nuuka, your building becomes ‘smart’. Nuuka provides a state-ofthe-art building process analytics platform for public and commercial buildings that ensures productive work environments for users, helping them to reduce energy consumption and maintain sustainable real estate activity. Nuuka software operates on Microsoft Azure platform
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OxyMem OxyMem is an Ireland based startup company that solves OPEX intensive wastewater treatment using an innovative Membrane Aerated Boifilm Reactor (MABR). MABR technology provides huge energy saving, 50 % less sludge and an ability to add additional capacity to tanks in days. OxyMems technology is patented in the Europe and the USA. The company is looking for to create more ground breaking applications in the MABR field.
https://oxymem.com
Qinous
https://www.qinous.de
QINOUS is a German based company, providing standardized and intelligent energy storage solutions that clients can plug & play with ease for on-grid and offgrid applications. QINOUS address a main problem for storage systems within this power range: the availability of an integrated solution that is simple to install and to operate. QINOUS’ technology is based on hardware and software that is researched, engineered, and enhanced in-house – resulting in a standardized platform concept that is adaptable to specific project requirements at very competitive pricing.
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Quantum Electric Oy
http://www.qe.fi/
Rotoby
Quantum Electric is a Finnish startup company that has developed new E-Gear technology. This novel electric gearbox technology enables very high peak power and high efficiency over significantly wider electric power range than existing motors and generators that are using traditional speed control or frequency converter technology. The Company has multiple patents pending and is going to start pilot production. Management team indicates various experties and experience in electrical development.
Rotoby is a young Polish startup company providing wind turbine blades based on two patents registered by its founders. The concept is simple: to create innovative blades for wind turbines, using high-tech thermoplastic materials and a simplified production process. Rotoby aims to significantly lower the price of wind power generation to make it even more affordable all over the world.
http://rotoby.com
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Scanbots
https://www.scanbots.net/
Solato
http://www.solatostart.pl/
Scanbots is a Poland based startup company specialized in providing infrastructure inspection and data collection. By using UAVs (Unmanned Aerial Vechiles) Scanbots can collect data from powerlines, oil and gas pipes and detect dangerous vegetation and trees and illegal structures and activities violating infrastructure. Scanbots unique software provides owners use reports which present a diagnostic of the asset and its corridor and can be used to optimize asset maintenance and associated investments.
Smart heating in your hands. Created in Poland, Solato is an innovative all-round system solution that gives customers full control over the heat of their house. It lowers your energy bills by letting the home to learn your daily routine. It allows customers to monitor and steer heat distribution remotely from any device with internet access. And sharing information with the power company helps grid load optimization.
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Solnet Green Energy Solnet Green Energy is a Finnish company founded in 2014 with HQ in Otaniemi, Espoo. Company provides Smart Solar Solutions, offering IoT enabled solar utilities and systems integrations for B2B customers easily, conveniently and cost efficiently as a managed service and turn-key solutions. The company has already delivered many systems including Arcada university of applied science main campus and Port of Helsinki.
https://solnet.fi/
Teraloop Teraloop is a Finnish start-up company, established in 2014 with the focused on kinetic energy storage. Company’s aim is to produce the world’s largest, cleanest and most economical kinetic energy storage system for power grid operators and it is the world first scaleable, 10-100MW class energy storage.Teraloop is now collaborating with Japanese Yaskawa Electronic Company.
http://teraloop.org/
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Trifilon Trifilon is a Swedish company pushing the limits of biobased composites and getting innovative products out of the lab and into real-life applications. Trifilon can build smarter and more environmentally friendly products from natural fibers. They believe that by 2025, natural fiber composites will be the obvious choice for lightweight car designs, high performance sporting goods and even wind turbine blades.
http://www.trifilon.com/
Trine
https://www.jointrine.com
Trine uses crowdinvesting to enable people to support solar energy projects, while also delivering a return to the investors. It’s based in Sweden. They provide the expertise, organization and the platform for enabling secure investments in carefully selected projects and bring finance to local solar entrepreneurs in emerging nations to electrify the world. Their crowd-investors will fund the initial cost for installing the solar system, over time this loan is paid back with interest by the value of electricity produced from the solar system
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TwingTec Swiss start-up Twingtec is developing the new technology to harvest wind power by using a tethered wing. Without a tower or foundation, this new generation of energy system is easy to transport, and can be swiftly setup or demobilized, which is a key advantage for remote locations. With the goal of revolutionizing wind farming with drones, TwingTech further unlocks the renewable energy potential, creating a future, where electricity is produced in an efficient and sustainable way.
http://twingtec.ch/
Uniti
Uniti is a Swedish startup developing an electric city car. Optimised for high performance and agility in urban environments, with a user experience that replaces “press and pull” with “touch and swipe”. Holistic safety, sustainability, and scalability in manufacturing are their primary focus, enabled by their recyclable carbon fibre body and organic composite interior. They will start their first deliveries in 2019.
https://www.uniti.earth
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Valoya Oy Valoya is a provider of wide spectrum LED grow lights. It is based in Helsinki, Finland. Valoya’s patented wide spectra are designed to optimise growth for a variety of plants in various applications and thus offer the best possible light for plants in an energy efficient way. They are expanding their network of resellers at the moment for growth.
http://www.valoya.com
Watty
Watty is an innovative Swedish startup tackling the climate change together with its customers. It is a simple way to keep track of what goes on at home regarding energy consumption. Powered by AI, the company develops tools to help people understand what is happening in their home in real-time.
https://watty.io/
VES
UNIVERSITY OF VAASA
Everyone has the potential to be an entrepreneur. VES is there to serve, support and enable people to chase their dreams. VES was founded in early 2015 to boost the entrepreneurial scene in Vaasa region. Our purpose is to serve the entrepreneurial minded with powerful insights, skills & connections that inspire, motivate and help them create new businesses. With other entrepreneurship societies in Finland, we are a part of the movement towards a more innovative, entrepreneur-friendly and economically healthy Finland.
The University of Vaasa is a business-oriented, multidisciplinary, international university, focusing on areas of management and change, energy and sustainable development and finance and economic decision-making. With 50 years of experience the university systematically promotes societal influence by producing up-to-date, high-level research and education.
VASEK & ENERGYSPIN The Vaasa Region Development Company (VASEK) was founded in 2003 and is jointly owned by seven towns and municipalities on the West Coast of Finland. VASEK promotes and reinforces growth and competitiveness in the region. This is done by improving the preconditions for business activities in the Vaasa region in cooperation with the regional authorities, municipalities, local action groups and enterprises. & Energypin Forum is a project under VASEK and it is a place, where energy startups and and talents meet with international investors and executives. EnergySpin Forum features top tier speakers, who are business founders, experienced ivestors and inspiring people behind the newest success stories withing energy business.
CONTACT INFORMATION
VES Oskari Kaskinen VASEK & EnergySpin Marko Koski University of Vaasa JormaLarimo
pj@ves.fi marko.koski@vasek.fi jorma.larimo@uva.fi