Iberdrola launches startups competition for greener grids

Spanish energy firm Iberdrola has set up a competition for tech startups to develop more sustainable energy grids to help bring about the green transition.

Organised through its PERSEO scheme, the firm will be looking for companies to develop new materials, designs, manufacturing and construction ideas for electrical substations and very high voltage lines, specifically designed for clean energy to bolster its portfolios in the US, Spain, the UK and more.

It is likely that smarter, greener energy grids will be essential in the energy transition, allowing for multilateral generation, both from the private sector, government and "prosumers" - consumers who also self-generate.

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Outside of the changes in infrastructure, innovative new technologies will also be required to make the road to net-zero possible within the timeframes that many governments have set.

Not only will these grids make powering homes possible, but also other methods for the decarbonisation of industry, such as EV charging, urban farming, or storage for sectors like construction.

Outside of developing new methods, Iberdrola's competition will also look to optimise current techniques, likely to reduce operational emissions or reduce disruptions and delays in production in addition to bringing costs down. Increasing safety and time investments would also be a significant boon.

The scheme will be based at its new innovation centre, allowing prospective startups to engage with Iberdrola's engineers and technicians as well as those from other companies.

Iberdrola currently owns around 4,500 high-voltage substations across the globe, with 1.6 million medium-to-low-voltage transformers at electrical hubs. All of this is connected through 1.2 million kilometres of power cables. 

Projects that cut material use, or replace inefficient or less eco-friendly materials, will likely see a great amount of success in the scheme. Other criteria include soil improvement and reducing plant suppression for agricultural technologies, or contributing to overall safety by minimising human intervention in dangerous conditions in sectors such as energy, construction or manufacturing are also being sought.

As Iberdrola is seeking these technologies to make its own offering more efficient, successful applicants could see their technologies "scaled up" through contracts with the energy firm.

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Since 2008, the PERSEO scheme has invested roughly €100 million into sustainable businesses. Iberdrola claims it analyses data from around 300 companies per year and has "an ecosystem of around 7,000 entrepreneurial companies", according to a statement announcing the latest round.

This equates to around 25 technology tests per year. In the last two years alone, more than 700 startups have been considered.

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