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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Schneider Electric SE    SU   FR0000121972

SCHNEIDER ELECTRIC SE

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Schneider Electric : Greentown Labs have selected four startups for Greentown Labs Bold Ideas 2020 in partnership with Schneider Electric

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09/14/2020 | 04:25am EDT

Greentown Labs, the largest climatetech startup incubator in North America, and Schneider Electric, the global leader in the digital transformation of energy management and automation, have selected four startups for Greentown Labs Bold Ideas 2020 in partnership with Schneider Electric. The six-month partnerships accelerator program is focused on enabling the swift deployment, integration, and operation of energy storage assets at scale.

More than 115 startups from six countries applied to Bold Ideas 2020. After a highly competitive recruitment and deliberation process, four companies were selected to participate in the accelerator program: *e-Zinc, based in Toronto, develops a low-cost, flexible, and long-duration electrochemical technology solution that stores energy in zinc metal.

*Packetized Energy, based in Vermont, develops a platform solution to transform existing energy devices in homes and businesses into smart, valuable, and flexible energy resources. Packetized Energy has been a Greentown Labs member since January 2020.

*Salient Energy, based in Nova Scotia, makes a unique zinc-ion battery with a water-based chemistry that is cheaper, safer, and longer-lasting than lithium-ion batteries.

*Sensai Analytics, based in Massachusetts and Cork, Ireland, develops a prescriptive analytics engine that rapidly produces robust forecasting models for prescriptive maintenance, demand forecasting, and operations management.

"We are excited to work with Greentown Labs and the selected entrepreneurs to help scale their energy storage ventures," said Edison Almeida, Business Incubation Leader at Schneider Electric. "Energy storage is key to transitioning the world to renewable energy and tackling climate change, and we need bold ideas like these to get there. Accelerator programs are core to Innovation at the Edge, where we incubate new businesses, partner, joint venture, or invest through SE Ventures, a EUR 500 million fund."

Over the next six months, Bold Ideas 2020 will provide the four participating startups with a structured platform to explore potential partnership outcomes with Schneider Electric. In the process, it will connect them with experts, resources, and programming that will help them achieve their commercial and technical milestones. The program is based on Greentown Launch, Greentown Labs' flagship corporate partnerships accelerator platform.

Bold Ideas 2020 follows the success of the first Bold Ideas Challenge, a program run by Greentown Labs and Schneider Electric in 2018. The Bold Ideas Challenge resulted in Schneider Electric entering into a joint development agreement and investment with Titan Advanced Energy Solutions, a program participant whose technology increases charge capacity and battery life. SE Ventures co-led Titan's $10 million Series A funding round.

"Greentown Labs is proud to welcome these innovative young companies to Bold Ideas 2020 and we're excited to see all the progress they'll make during the six-month program," said Dr. Emily Reichert, CEO of Greentown Labs. "Based on the meaningful outcomes that came out of the 2018 Bold Ideas program, we're confident this program will catalyze great partnerships with Schneider Electric and develop solutions needed for the coming energy transition!"

All participating startups will receive: *Acceptance into Greentown Launch, a six-month startup-corporate partnerships accelerator at Greentown Labs, the largest climatetech incubator in North America *A structured platform to explore potential partnership outcomes with Schneider Electric, such as investments, incubations, commercial agreements, and joint ventures *Access to the Schneider Electric network, including market access to a wide range of trusted customers across the world in segments including data centers, residential buildings, commercial and industrial buildings, utilities, communities, and more *Leverage of Schneider Electric's global footprint and access to technical experts and business line leaders for team building, mentoring, and other support *Mentorship, networking opportunities, and partnership-focused programming from the Greentown Labs community of climatetech startup experts *$25,000 in non-dilutive grant funding *Membership within Greentown Labs for the duration of the program

Greentown Labs and Schneider Electric will host a public Bold Ideas 2020 Kickoff event on Sept. 9 from 11:30 a.m. to 1 p.m. ET to introduce the participating startups and bring the climatetech ecosystem together around energy storage.

At a final showcase event in March 2021, the program partners and participants will share the startups' progress, accomplishments, and successful results of working with Schneider Electric and Greentown Labs throughout the program.

Registration for the kickoff event is open to the public here.

About Schneider Electric

Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management - Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.

#SchneiderElectric #SchneiderNews #Schneider

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