Capital Energy Quantum launches its first open innovation challenge in Castile and León to boost the development of local startups

The renewables group’s corporate venture vehicle has announced this initiative within the framework of its participation in the CyL Hub, held these days in León

• The company invites Castile and León region startups to develop cutting-edge and disruptive technological solutions applied to Industry 4.0, the promotion, operation and maintenance of renewable assets, energy products for end-customers and sustainable mobility
• The challenge, supported by Wolaria, the accelerator of entrepreneurial projects of ICE –body belonging to the Castile and León regional government–, will have a one-month entry period and the winner will be able to develop, over six months, a pilot financed by Capital Energy Quantum and participate in ICE's innovative entrepreneurship programmes

León, 6 May 2022.- Capital Energy, the Spanish energy company founded two decades ago with the aim of becoming the first vertically-integrated, 100%-renewable energy operator in the Iberian Peninsula, has once again demonstrated both the pivotal role of innovation and green energy transition in its strategy, and its commitment to the socio-economic development of Castile and León, a key community for its clean energy project.

Through its corporate venturing vehicle, Quantum, the group has launched in this community, within the framework of its participation in the CyL Hub held these days in León, its first open innovation challenge in the region. Through this initiative, which will be supported by Wolaria, the accelerator of entrepreneurial projects of the Institute for Business Competitiveness of Castile and León (ICE) –body belonging to the Castile and León regional government–, Capital Energy Quantum invites Castilian and Leonese startups to develop cutting-edge and disruptive technological solutions applied to Industry 4.0, to the promotion, operation and maintenance of renewable facilities, to energy products for the end customer and to sustainable mobility.

Startups interested in taking part in the challenge will have to meet certain requirements, such as being based in Castile and León, having a significant presence in the region or having plans to set up there in the short term. They must also present a market-tested product and have sufficient operational and financial capacity to implement their project within the periods established in the call for proposals.

For its part, during the selection process, Capital Energy Quantum and Wolaria will assess aspects such as the contribution to sustainability and the degree of innovation of each application, as well as the experience of the working teams. It will also take into consideration implementation and production times, development costs and the estimated useful lifetime of the proposals.

There will be a one-month registration period for the challenge since the launch and the winner will have the opportunity to develop, over six months, a pilot project funded by Capital Energy Quantum, with work to begin no later than three months after being selected. It will also be able to participate in the ICE’s innovative entrepreneurial support programmes.

On the other hand, Quantum will afford visibility to the solutions short-listed as finalists, which will be disseminated on its website and social media profiles and evaluated by a panel composed of top-tier experts.

Capital Energy Quantum director, Erika Escolar Eguia, has pointed out that “this initiative confirms our total confidence in the capacity of the startups of Castile and León, a crucial region for our renewable project and which has a business and industrial fabric of undeniable quality”. She also declared that “our challenge has a threefold objective: to continue to create social and economic value for the community, to optimise our daily processes and to boost the competitiveness of all the participants”.

Quantum: 20 million euros to transform the energy sector

Provisioned with 20 million euros, Quantum, presented by Capital Energy at the end of 2020, aims 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. For this, the company explores different ways, such as association (Venture Client), direct investment (Venture Capital) and the building of new businesses (Venture Building).

Capital Energy Quantum is part of the group’s strategic commitment to promote entrepreneurship and generate a vast network of knowledge and talent in the Spanish energy market. It also helps to consolidate the transformation of Capital Energy into a customer-oriented company, improving the efficiency of its short and medium-term core business.

About Capital Energy

In line with its commitment to the Green and Fair Energy Transition, Capital Energy currently has a portfolio of wind and solar energy projects on the Iberian Peninsula amounting to more than 30 gigawatts (GW) of power, for which over 8 GW already have grid access licences granted.

Capital Energy reached its strategic goal of being present throughout the entire renewable energy generation value chain: from promotion, where the company has a consolidated position thanks to its 20-year history, through to construction, production, storage, operation and supply. The company has 15 offices in Spain and Portugal, where around 360 employees work.