Singapore Power (SP) has launched Free Electrons, a global accelerator program in partnership with a global consortium of utilities and accelerators.
The program aims to recruit energy start-ups to drive the next generation of ideas and solutions that address emerging and future energy trends in clean energy, energy efficiency, e-mobility, digitization, and on-demand customer services.
Free Electrons is the first-of-its-kind in the energy sector that is initiated by eight international utilities – SP, AusNet Services, Dubai Electricity and Water Authority (DEWA), ESB (Electricity Supply Board), EDP (Energias de Portugal), innogy, Origin Energy, and Tokyo Electric Power Company (TEPCO).
These utilities are leaders in clean energy transition, and have extensive experience in driving technological innovation. Together, the eight utilities represent a global footprint covering 73 million end customers across more than 40 countries, with a combined net income of 148 billion.
The program is supported by two accelerator partners from Silicon Valley – New Energy Nexus and swissnex San Francisco, which have extensive networks in the innovation ecosystem and have the experience and expertise in connecting innovators.
Twelve start-ups will be selected to participate in the six-month long accelerator program, consisting of three separate week-long “customer adoption” modules in Silicon Valley (San Francisco), Lisbon and Dublin, and Singapore.
At the modules, the start-ups will gain exposure to various markets all around the world by collaborating with major utility companies. The program is designed for energy start-ups to further refine their products and services, with the potential of testing and developing them on a global customer base.
“Singapore Power is committed to providing a high quality, sustainable lifestyle for customers. Together (with the consortium) we can develop transformational energy solutions to provide customers with more choices, and help them to save energy and cost,” said May Liew, director of strategic development at SP.
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