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Open Call
The world is transitioning from carbon-intensive energy generation to renewable, decarbonized, and decentralized energy systems, but there are significant challenges. Renewable energy sources are intermittent, which means we must devise efficient ways to capture and store this energy for reliable, on-demand usage. Furthermore, the existing power grid, rooted in legacy systems, requires a substantial overhaul to accommodate increased renewable and decentralized energy generation. This extensive undertaking necessitates innovative solutions to defer and economize the substantial time and capital investments required for infrastructure upgrades.
Moreover, industries with high energy demands face mounting pressure from governments, investors, and society to decarbonize their processes by shifting to cleaner sources of process heat and electricity. This transition is not only crucial for sustainability but also offers economic benefits. In all these scenarios, the adoption of novel methods for energy storage, dispatch, and utilization is critical.
The Future Energy Storage Studio, a partnership between Ørsted, a prominent player in the clean energy sector, and Newlab is aimed at propelling progress in the novel energy storage space through technical feasibility and industrial scalability. We believe that energy storage is a cornerstone of the evolving energy landscape, fostering sustainability, reliability, and flexibility in our energy systems. Its multifaceted contributions are essential for achieving a cleaner, more resilient, and decentralized energy future.
We are focused on helping scale novel energy storage technologies versus more established lithium-based battery chemistries. High lithium demand, largely driven by mobility electrification and volatile cost and supply chain of the critical mineral, in addition to inherent safety risks (e.g. thermal runaway) and specialized manufacturing requirements (e.g. cleanroom), have led us to focus on alternative technologies for long duration energy storage. The world needs de-risked novel energy storage solutions ready to be deployed at scale.
The Ørsted Ventures and Open Innovation (VOI) team leads Ørsted's startup engagements and investments, researches and assesses emerging technologies and scientific advancements, and creates partnerships between the internal business and the external clean-tech ecosystem. This can include startups, academic partnerships, and peer corporate relationships.
To date, we have piloted around 15 new and novel technologies including offshore communication tools, AI imaging software for migratory bird detection, ML-based weather predictions, and power-to-X solutions. Through a mixture of venture investing and venture clienting, Ørsted VOI is well-positioned for future-proofing our business and keeping Ørsted at the forefront of innovation for the clean energy transition.
Our operating model allows us to engage across the innovation value chain from early-stage research, developing and exploring ideas, preparing and executing pilots, all the way to scaling and implementing solutions for our asset projects. With our mixed model of funding and collaboration, we can drive significant change and proactively build the energy system of the future.
Access to strategic partnerships, testing infrastructure, feasibility and pilot stipends, funding
Early access to high-potential innovation, proprietary insights, deal flow, risk and cost sharing
