Spring 2023 marked the beginning of a remarkable journey for Element One Energy AS (EoneE), a Norwegian startup focusing on the future of renewable energy. Through the DeepTech Alliance's Clean Energy accelerator, supported by Kongsberg Innovation, EoneE received a unique opportunity to accelerate its growth and establish valuable connections with some of Europe's leading energy companies.
With the ambition to be a driving force in green hydrogen energy, EoneE has developed innovative technologies in electrolysis and fuel cells. Their advanced solutions in high-efficiency electrolysis and fuel cell systems set the stage for hydrogen as a competitive, carbon-neutral energy carrier. Based on Proton Exchange Membrane (PEM) technology, EoneE has developed a revolutionary design for electrolyzers and fuel cells with high efficiency, current density, and pressure.
Anders Even Kvåle, CEO & Founder of EoneE, shares his reflections on their journey through the Clean Energy program, stating: "The DeepTech Alliance program gave EoneE a unique opportunity to collaborate with leading European energy companies." This opened the door to meaningful discussions with key personnel and experts in the renewable energy sector, paving the way for potential collaborations and partnerships.
Through the program, EoneE had the chance to engage with Corporate Venture Capital (CVC) companies willing to explore early-stage energy deeptech investments. "In a short time, we built an impressive portfolio of business opportunities," says Kvåle enthusiastically. This was the result of dedicated work that would usually take months to achieve.
Participation in the accelerator program also opened the door to exciting collaboration opportunities with key individuals within "Open Innovation" organizations in large corporate partners. "We were introduced to decision-makers who were willing to explore Proof of Concept (PoC) projects with startups like us," says Kvåle. This gave EoneE a unique platform to test and demonstrate their innovative technology in collaboration with decision-makers who had the potential to realize the projects.
The journey didn't stop there. Through the Clean Energy program, EoneE managed to attract attention in the capital market. "The interest from European CVC/VCs was overwhelming," says Kvåle, opening doors for new opportunities for growth and innovation.
EoneE's journey through the Clean Energy accelerator program has been a transformational experience. From meetings with energy giants to establishing groundbreaking partnerships and attracting investors, this experience has set EoneE on course for a promising future.
Element One Energy also participated in our KongsbergHOW accelerator program in 2022, where they met industry leaders, gained unique insights, and benefited from mentoring to strengthen their value proposition. The program has proven to be a valuable arena for networking and guidance in making strategic decisions. We at Kongsberg Innovation are excited to follow the journey of our incubator companies.
