France-based energy giant TotalEnergies announced a series of acquisitions of startups aimed at accelerating the development of its electricity business, and supporting its ambition to achieve net zero by 2050.
Each of the companies participated in TotalEnergies’ On accelerator program, aimed at supporting the development of new companies in the electricity and renewable energy sector, and targeting companies that offer solutions across the electricity value chain, with a particular focus on digital solutions.
TotalEnergies said that the success of the programs in collaborations and tests with these startups led the company to negotiate their acquisition and integration into its business units which with they collaborated.
The acquisitions include energy portfolio management SaaS platform Dsflow, renewable project optimization software platform provides NASH Renewables and AI-driven predictive analytics company Predictive Layer.
Accordint to TotalEnergies, Dsflow will provide the company’s multi-site, electricity-intensive B2B customers with a platform to pilot their asset in real time and optimize their procurement strategy, while NASH Renewables is expected to enable TotalEnergies to improve profitability by factoring in the impact of the projects’ geographical specificities on the captured market prices and Predictive Layer will enable the company to improve the performance of its trading operations by internalizing the startup’s machine learning and artificial intelligence solutions focused on energy price forecasting and other tailor-made forecast modeling of demand, supply, production, or non-commodity trading.
TotalEnergies is acquiring a majority stake in startup Time2plug, aimed at facilitating and accelerating the deployment of EV charging points in France for its small B2B customers. Time2plug offers a marketplace where customers can obtain instant quotes and tap into a certified in-house installer network.
Stéphane Michel, President, Gas Renewables & Power at TotalEnergies said:
“All these solutions will enable us to improve our B2B offers; the development of our renewable projects; our market analyses; and the deployment of EV charging points.”
Since its launch in May 2022, TotalEnergies On has supported 19 start-ups during 2 six-month sessions, and the program is currently welcoming its third cohort, composed of ten participants, each working on digital solutions relating to electricity ranging from renewable production and storage to distributed electricity management, trading, retail, and electric mobility.