BOSTON (November 13, 2018) – Schneider Electric, a leader in the digital transformation of energy management and automation, has announced “Schneider Electric Ventures”, which identifies, nurtures and supports innovations that will make a major contribution to future sustainability and energy efficiency. Several major projects are underway and ready to be deployed.
Innovation is the essential precursor to sustainable growth. Beyond the imperative of finding solutions that will protect our natural environment, companies need to satisfy non-stop growth in global energy demand, adapt equipment for a hyper-connected industrial ecosystem, and comply with ever-stricter regulation.
Schneider Electric already prioritizes innovation at every level. The company spends €1 billion a year on R&D; and EcoStruxureTM, its IoT-enabled, plug and play, open, interoperable, architecture and platform is at the cutting edge of connected energy management and industrial automation.
A few months ago, the company created “Schneider Electric Ventures”. The mission of this initiative is to identify, support and nurture companies and entrepreneurs whose innovations will transform the way we live and work, how we produce and consume energy, and how we run buildings and factories.
Schneider Electric Ventures supports innovation through funding, incubation, and partnerships.
At its Innovation Summit North America, bringing together 1,200+ of the brightest entrepreneurs, executives, and industry leaders from across North America on November 13-14, 2018, at Hilton Atlanta Downtown, Schneider Electric announced some major projects developed by “Schneider Electric Ventures”. These projects include:
- eIQ Mobility, a start-up and spinoff from Schneider Electric Incubator, which enables and accelerates electric mobility at scale by providing “Electric Fleet as a Service ” to large commercial fleets.
- Clipsal Solar, a business venture for on-grid and off-grid solutions for residential and commercial applications in Australia, where 1.8 million homeowners have installed solar panels to help manage their energy bills. The market is forecasted to grow with additional 134,000 homes by 2021.
- Greentown Labs Bold Ideas Challenge in partnership with Greentown Labs, focused on fast- tracking entrepreneurs with the mentors, team members, grants of $25,000, and business and technical resources they need to launch successful ventures.
Through its different investment vehicles, Schneider Electric also made equity investments in six companies:
- Sense, the leader in load disaggregation technology
- Element Analytics, a leader in industrial big data analytics
- Habiteo, a 3D specialist for new residential housing
- QMerit, the “Uber” for contractors & MRO spend
- KGS, a predictive engine for just-in-time maintenance
- Claroty, the leading Cybersecurity company for industrial OT networks
“Schneider Electric Ventures is our way of helping innovators turn their vision into reality and make a real difference to the way we live and work,” said Schneider Electric Chairman and CEO Jean-Pascal Tricoire, at the Innovation Summit North America. “Schneider Electric Ventures demonstrates our commitment to innovation, helping innovators and entrepreneurs who share our values develop their ideas and gain access to global markets.”
Schneider Electric has committed to invest between 300 and 500 million euros in the coming years, in incubation projects, partnerships with entrepreneurs, and specialized funds, and welcomes ideas from innovators and entrepreneurs eager to turn their ideas into reality
“The investments we’ve made and the companies we’ve incubated so far are central to Schneider Electric’s vision for the future,” said Heriberto Diarte, Schneider Electric’s Head of Open Innovation and Ventures. “These innovative technologies and services we are investing in will make a huge contribution to creating a world that is more connected, greener, efficient and sustainable.”