This marks a milestone for the startup towards bringing its AI-powered SaaS for intelligent network selection STEER® to automotive, fleets, and networks.

Driving the future of connectivity through the development of 5G and Edge Computing technologies that enhance smart asset management.

Since 2019, Elewit has been promoting and driving technological innovation among Redeia's companies to accelerate the ecological and digital transition.

The new fund, known as Adara Ventures Energy I, is classified under Article 9 of the Sustainable Finance Disclosure Regulation for its commitment to sustainable investment objectives.
It is backed by the European Investment Fund (EIF), which has contributed €35 million of Adara Ventures Energy I's planned overall investment of €120 million.
It will support early-stage companies specialising in the development of innovative technologies that accelerate the transition to a new, decarbonised energy model.

The hybrid storage project with grid-forming control developed by both companies demonstrated the ability of the combined system to operate in GFM mode providing a wide range of services.

The four startups chosen will launch pilot projects in partnership with Redeia's subsidiaries, including Red Eléctrica, Redinter, Reintel, and Hispasat.
Elewit has invested 1.7 million euros through this programme and has already supported 30 commercial pilots with 26 startups from both national and international backgrounds.