Elewit, Redeia's technological platform, has selected four startups in the 5^th edition of its Venture Client Programme, which this time will focus on the development of pilot projects for cybersecurity in communication networks of substations; new equipment and materials for overhead power lines; a computer platform to provide more information for project management, and the revitalisation of marine ecosystems in areas where there are electric cables.

This programme, Elewit's main corporate venture initiative, is designed to provide innovative solutions for Redeia and its subsidiaries (Red Eléctrica, Redinter, Reintel, and Hispasat) in an agile manner and that meets their needs. The four startups chosen by Elewit will have the chance to work on their pilots alongside expert professionals from these companies.

We are delighted about the launch of the fifth year of the programme because it demonstrates that this initiative is becoming more and more established in the market, and is generating great interest both in Spain and in other countries,” said Silvia Bruno, director of Elewit.

In this 5^th edition of Elewit's Venture Client programme, the chosen startups are:

• DeNexus (United States), a company that specialises in creating a platform for cybersecurity management, which has the ability to model cyber risks in industrial and electrical communication networks. The solution enables the quantification of the economic impact that different cyber risks could have on businesses.
• Asset Cool (United Kingdom), a startup developing photonic coatings for airline conductors capable of reducing conductor temperature by up to 25%, increasing transport capacity by 10-30%, and reducing conductor losses by up to 15%.
• Navgar (United States), a company that has created a computer platform focused on optimising operations in order to achieve more agile and transparent coordination of tasks and projects within teams, enabling members to save time on coordination and focus on higher value-added activities.
• Ocean Ecostructures (Spain), specialises in bio-structural solutions aimed at restoring marine life and mitigating the impact of human activities. The company designs structures such as barriers and mooring systems that aid in the regeneration and renaturalisation of degraded marine areas, while minimising environmental impact.

The Venture Client Programme

This years' programme by Elewit consists of three phases: defining the scope of the proof of concept, launching pilots, and evaluating results and potential interest in scaling up. The effectiveness of the venture client model has been demonstrated in previous years, as in over 80% of cases, fewer than 100 days elapsed from the programme's commencement to the initiation of pilot projects.

Up to this point, Elewit has invested over 1.7 million euros during the four previous years of the programme, promoting the development of 30 projects in collaboration with 26 Spanish and international startups, of which nine have been adopted.

We are currently at a pivotal moment where, in order to progress in the ecological transition, we need to implement major technological innovation and embrace new solutions to address the challenges we are facing. Bruno highlights the potential usefulness of programmes like Elewit's Venture Client in making a positive contribution.

Through this initiative, the company aims to drive technological innovation in the processes of ecological transition and universal connectivity, which are the main focus of its parent company (Redeia). In addition, it seeks to enable startups to develop their products effectively and potentially become suppliers for corporations.

About Elewit

In 2019, Redeia's technological platform was created with the aim of providing solutions to the new challenges in the electricity and telecommunications sectors, and with the goal of driving energy transition and connectivity to create a sustainable future. More information