AYeconomics Research Centre (SMART-TIO) wins the first open innovation challenge

For six months, the startup will have the opportunity to develop a pilot project financed by the energy company’s corporate venturing vehicle.

• Over the next three months, this innovative SME linked to the sector of research and experimental development in social sciences and humanities will launch a project focused on quantifying the direct and indirect impact of implementing renewable energy projects locally
• Through this initiative, which received support from Unirisco, Quantum invited Galician startups to develop cutting-edge and disruptive technological solutions applied to industry 4.0 and to the promotion, operation and maintenance of renewable energy facilities, energy products for the end customer, and sustainable mobility
• The award ceremony was attended by the rector of the University of A Coruña, Julio Abalde; the vice-rector of Scientific Policy, Research and Transfer, Salvador Naya; the councillor for Education, Historical Memory, Innovation, Industry and Employment of the City Council of A Coruña, Jesús Javier Celemín; the managing director of Unirisco, Inmaculada Rodríguez; the director of Capital Energy Quantum, Erika Escolar; and the head of Promotion in Galicia for Capital Energy, Xabier Monteagudo

A Coruña, 29 September 2022.- Capital Energy, a Spanish energy company established two decades ago that seeks to become the first vertically-integrated 100% renewable operator in the Iberian peninsula, has underlined the central role that the innovation-ecological energy transition partnership plays in its strategy and its commitment to the socioeconomic development of Galicia.

The group's corporate venturing vehicle, Quantum, has decided on the award for the first open innovation challenge launched in the region, with the collaboration of venture capital firm Unirisco, which was announced last April when it took part in the Startup Congress Galicia 2022. The project presented by AYeconomics Research Centre (SMART-TIO), an innovative SME born as a spin-off of the University of Santiago de Compostela (USC) and linked to the sector of research and experimental development in social sciences and humanities, was selected as the winner by a jury of top-class experts.

The award ceremony held in the rector’s office at the University of A Coruña, was attended by the rector of the university, Julio Abalde; the vice-rector of Scientific Policy, Research and Transfer, Salvador Naya; the councillor for Education, Historical Memory, Innovation, Industry and Employment of the City Council of A Coruña, Jesús Javier Celemín; the managing director of Unirisco, Inmaculada Rodríguez; the director of Capital Energy Quantum, Erika Escolar; and the head of Promotion in Galicia for Capital Energy, Xabier Monteagudo. The award was designed and presented by members of Amicos, a non-profit association with which Capital Energy recently worked on the restoration of the so-called Ruta das Fervenzas, which runs between Outes and Mazaricos.

For six months, AYeconomics Research Centre (SMART-TIO) will have the opportunity to develop a pilot project funded by Capital Energy Quantum, which focuses on quantifying the direct and indirect impact of implementing renewable energy projects locally. The startup will have to start working on this project within the next three months.

Through its first open innovation challenge in the region, Quantum invited Galician startups to develop cutting-edge and disruptive technological solutions applied to industry 4.0 and to the promotion, operation and maintenance of renewable energy facilities, energy products for the end customer, and sustainable mobility. Companies interested in taking part in the challenge had to meet certain requirements, such as being based in Galicia, proving a relevant presence in the region or having plans to settle there in the short term. They also had to submit a market-tested product and have the operational and financial capacity to implement their project within the deadlines set by the call.

During the selection process, Capital Energy Quantum assessed issues such as the contribution to sustainability and the innovative nature of each application, as well as the experience of the teams. It also took into account implementation and production deadlines, development costs, and the estimated useful life of the proposals. In addition to recognising the AYeconomics Research Centre (SMART-TIO) project, the company’s energy corporate venturing has provided visibility to the solutions chosen as finalists, which were published on their website and social media profiles.

Quantum: €20 million to transform the energy sector

With €20 million, Quantum, presented by Capital Energy at the end of 2020, seeks to identify a portfolio of EnergyTech startups in Spain and Portugal with the potential to transform the energy sector, reach agreements, and invest in them in the coming years. To this end, the company is exploring different avenues, such as partnership (Venture Client), direct investment (Venture Capital), and the launch of open innovation challenges.

Capital Energy Quantum is part of the group's strategic commitment to boost entrepreneurship and generate a vast network of knowledge and talent in the Spanish energy market. It also contributes to supporting the company's territorial strategy, boosting the local industrial network and fostering innovation in all its aspects.

About Capital Energy

In line with its commitment to a green and fair energy transition, Capital Energy currently has a wind and solar portfolio on the Iberian Peninsula of over 30 gigawatts (GW) of power, with more than 8.5 GW already awarded grid access permits.

Capital Energy has achieved its strategic goal of being present along the entire value chain of renewable generation: from design, where the enterprise has a consolidated position thanks to its 20-year track record, to construction, production, storage, operation and supply. The company has 16 offices in Spain and Portugal, with almost 360 employees.