Free Electrons Accelerator Program has named SOLshare, a Bangladesh based energy startup, World’s Best Energy Startup 2018 and awarded $200,000. SOLshare enables peer to peer electricity trading between off-grid households connected to solar panels. SOLshare allows households to sell their excess energy by growing their network as well as supply and allocation. It also provides data analytics, mobile money payment and grid management services.
Lead by New Ventures LLC, the Silicon Valley-based arm of the innogy Innovation Hub, the accelerator and venture capital investment arm of the German utility Innogy, the company raised over $1.66 million in a series A investment round. Portugese utility firm EDP and the IIX Growth Fund from Singapore also participated in the round.
Free Electrons Accelerator is a global collaboration of ten utility companies including Energias de Portugal (EDP), American Electric Power, Australian utilities Ausnet Services and Origin Energy, Hong Kong’s CLP, Dubai Electric and Water Authority, Ireland’s Electricity Supply Board and Germany’s innogy New Ventures, Singapore’s SP Group and Tokyo Electric Power Co. (SEPCO) operating in 40 countries with over 76 million customers.