11 April 2018

Aussie energy start-up punches above its weight

Energy start-up Relectrify will work with some of the world's leading energy companies after being named the only Australian company in this year's Free Electrons global start-up accelerator program, supported by Origin.

Relectrify, which is exploring the possibility of giving retired electric car batteries a second life so they can be reused as energy storage units for homes and power grids, emerged as a big winner at the Free Electrons bootcamp in Portugal last week.

More than 500 start-ups from around the world applied, with the top 15 companies traveling to Sydney and Melbourne in May to take part in a week-long accelerator program hosted by Origin.

Tony Lucas, Executive General Manager Future Energy said, “Origin is thrilled to be working with Free Electrons to help develop leading edge innovation in energy, and it’s even more satisfying when we can unearth a start up with a great idea in our own backyard.

“It is a huge achievement for Relectrify to be selected in the 2018 intake of Free Electrons after more than 500 applications were received globally, and a great opportunity to help take their idea to the next stage.

“Relectrify is a company that has recognised an emerging market in repurposing electric car batteries and we’re excited to spend some time working with them to see if we can help them develop it commercially.

“Technology is driving rapid change in the energy industry, facilitating 24-7 interaction with our customers and giving them greater control over their energy use and costs. We are embracing start-up culture through our involvement with Free Electrons and opening the doors to new ideas and ways of interacting with our customers,” Mr Lucas said.

Relectrify CEO and co-founder, Valentin Muenzel said, “We are immensely pleased to be one of the 15 companies in the 2018 Free Electrons program.

“Working with Origin and eight other leading power utilities from around the world will allow Relectrify to further accelerate the positive impacts our battery life-extending technology will unlock.”

Free Electrons is a global business accelerator supporting start-ups working on clever and innovative energy solutions. Past participants have progressed to customer trials with Origin and other Free Electrons founding members, including Tempus Energy, which is currently working on a demand management trial with Origin customers.

Luis Manuel, executive board member at Portuguese energy company EDP Innovation, which oversees the Free Electrons project for EDP, said there was a strong field vying for the top 15 at last week’s bootcamp in Lisbon, Portugal.

About Free Electrons

Founded in 2017 by nine world-leading utilities, Free Electrons selects the world’s best future energy concepts to collaborate with leading energy companies and experts to accelerate their growth.

The 2018 top 15 will participate in three modules, the first in Sydney and Melbourne (Australia) in May, in Silicon Valley in June, and the final stage, in Berlin, Germany in October.

Free Electrons 2017 generated an overall US$2 million in contracts between the 12 start-ups and participating utilities, with a pipeline of ongoing opportunities surpassing US$12 million.

Free Electrons was founded by Ausnet Services (Australia), DEWA (Dubai), EDP (Portugal), ESB (Ireland), Innogy (Germany), Origin Energy (Australia), SP Group (Singapore) and Tokyo Electric Power Company (Japan), with also the participation of American Electric Power (USA). The program is supported by entrepreneur support specialist Beta-i (Portugal).


Contacts

Media
Tracy Ong
Senior Manager External Affairs
Ph: +61 2 8345 5213
Mobile: +61 408 400 227

 

   

Peter Rice 
General Manager, Capital Markets 
Ph: +61 2 8345 5308
Mobile: +61 417 230 306