Norwegian start-up Aevy, which provides digital tools for managing renewables assets, has been chosen for TotalEnergies’ On accelerator programme.
The collaboration aims to transform how renewable energy assets are managed by unlocking critical information held in thousands of documents.
TotalEnergies, a global integrated energy company and one of the world-leading renewable developers in the world, has chosen Aevy as one of seven start-ups selected from over 200 applicants for their prestigious acceleration programme, which has supported innovative start-ups in the electricity value chain since 2022.
“Being selected for the TotalEnergies ON program marks a significant milestone in our mission to transform renewable asset management and due diligence,” said Stig Sund, CEO and co-founder of Aevy.
“This collaboration with one of the world’s leading energy companies will accelerate our ability to help asset owners optimize their renewable portfolios.”
The six-month programme will focus on testing and scaling Aevy’s platform with different business units within TotalEnergies.
“Working with TotalEnergies’ extensive renewable operations provides a unique opportunity to demonstrate how our technology can save time and improve operations of large-scale wind and solar portfolios,” said Gautier Moulin, co-founder of Aevy.
“The Aevy platform helps navigate the complexity of managing thousands of technical, legal, and operational documents that impact performance and return on investments.”
Aevy has also closed an investment round to accelerate commercialisation of its technology.
The Nkr6.2m (€530,000) investment round was led by StartupLab and also included Aidiom, CTO Roundtable and Antler.
The new capital will accelerate Aevy’s expansion throughout 2024, including development of advanced automation features for asset management and due diligence, addition of key roles to strengthen the team and expansion in European renewable energy markets.
Sund said: “Owing to increasing complexity, asset managers now spend up to 40% of their time looking for information.
“With expectations of continued exponential growth, the industry desperately needs a solution that can increase asset management efficiency.
“This investment enables us to further accelerate development of our platform and deliver significant time and cost savings to the renewable energy sector.”