Smart Energy Innovation Challenge culminated at Cleantech Venture Day London
Virta and Zero Hertz Systems competed for victory at Cleantech Venture Day in London on 31 October.
In March 2018, the Smart Energy Innovation Challenge by Grid.vc, Nord Pool, Fingrid, Lahti Energia and Nordic Innovation Accelerator called for ideas on smart energy usage without the formation of demand clusters. The call was open to all fields of innovation such as electric mobility, market mechanisms, smart grid systems and demand response. The call was answered in impressive volume, 24 high-quality applications from 8 different countries.
Top 10 companies were invited to pitch at Cleantech Venture Day Lahti in June in front of a corporate jury, and a full house of smart energy industrials and financiers.
“The resulting range, from research teams taking their first steps to commercialize their idea, to internationally operating companies with several dozens of employees, made this challenge all the more interesting”, says Nicholas Sharaf from Nord Pool AS.
After Cleantech Venture Day in Lahti and during the months leading up to London, the teams have been able to further develop their ideas and business models with the help of the world-class mentors. From the Top 10 companies Virta and Zero Hertz Systems were selected to pitch at Cleantech Venture Day London on 31 October and competed for the challenge victory.
Winner of the challenge was Zero Hertz Systems Oy. Zero Hertz Systems develops direct current technology for electricity distribution networks. “Their technology makes it possible to scale up microproduction, storage and self-sufficiency of distribution networks. These measures can improve stability in the grid significantly and cost effectively”, describes Jaakko Isotalo from Grid.vc. Zero Hertz Systems is based in Lappeenranta, Finland.
The Top 10 of Smart Energy Innovation Challenge are 3A, Bubble, Cation Ltd, DEPsys, Greenbird, GreenPocket, Virta Ltd, VoltStorage GmbH, Xigrid Technology and Zero Hertz Systems.