Energiot Seedround Press Release

Energiot secures a seed funding round to boost the digitalization of the electricity grid,

optimizing its operation and maintenance and allowing better integration with renewable

sources.

Barcelona, [23-11-2023] – Energiot, the Spanish startup pioneering the development of self-

powered Internet of Things (“IoT”) devices for the smart management of the electricity grid,

has closed a seed funding round. The funds come from a syndicate of investors specializing in

the climate technology vertical led by Axon Partners Group, EIT InnoEnergy and COREangels

Climate, thus consolidating their commitment to innovation and the sustainable energy

transition.

A significant increase in electricity demand is expected in the coming years. 80 million

kilometers of new lines are expected to be created or replaced by 2040 worldwide. In addition,

increased renewable energy production and electrification, among other things due to the

deployment of electric vehicles, are leading to grid congestion that today costs billions of

euros annually – €3.2 billion in Germany alone in 2022. To meet these challenges, it is

necessary to invest in the modernization and digitalization of power lines, their real-time

monitoring and more predictive maintenance, and equipping it with dynamic management

systems and advanced analytics. The installation of new sensing devices on these lines,

especially overhead lines, will be necessary in the coming years. Unfortunately, using battery-

powered devices is not feasible, not only because of the ecological impact associated with

using millions of them but also because of the maintenance associated with replacing them.

Energiot intends to take on these challenges and, with this investment, seeks to optimize the

operation and maintenance of grid operators (“DSOs” and “TSOs”) through the

implementation of IoT devices that, equipped with multiple sensors that generate new data

and are collected on a cloud platform, significantly improve the maintenance and operation

of grid assets.

Energiot addresses critical challenges and use cases such as Dynamic Line Rating (DLR),

predictive maintenance, intelligent asset monitoring and bird protection on overhead power

lines. thus improving operational efficiency and environmental sustainability for network

operators.

This round will allow the development of new key pilots with other grid operators, the

scaling up of the manufacture and commercialization of our products and a gradual growth

of our team in order to complement their competencies,” says Gonzalo Murillo, President

and founder of Energiot.

Energiot’s patented technology allows the harvesting of waste energy from the environment,

which is used to power IoT devices sustainably and eliminates reliance on batteries, facilitating

a global and affordable deployment for grid operators. The versatility of Energiot’s devices

allows a wide range of assets, including conductors, towers, insulators, and substations, to be

monitored with a single device.Luis Castañeda, Partner leading Axon’s sustainability and energy transition strategy,

commented: “We must commit to the development of smart grids. The electrification and

decarbonization of the economy bring with them new challenges to distribution and

transmission networks that cannot be addressed with current technology. In this sense, both

Energiot and its technology developed by Gonzalo and his team are positioned as leaders to

face these new challenges.”

Currently, Energiot works with European electricity grid operators and has carried out pilots

with leading companies in the sector, such as Iberdrola (Spain), EDP (Portugal), and Enercal

(France/New Caledonia), among others.

About Energiot

Founded by Gonzalo Murillo, a distinguished researcher from Granada and now an

entrepreneur, Energiot is a spin-off of the Institute of Microelectronics of Barcelona (IMB-

CNM, CSIC) and has had the support of EIT InnoEnergy since its inception. In fact, Energiot

was the winner of its Cleantech Camp program in 2017. On the other hand, Gonzalo was

named Europe’s Newest Innovator Under 35 by the MIT Technological Review in 2016,

Economic Leader of Tomorrow by the Chousiel Institute in 2019 and 2020. He has recently

been awarded the prestigious National Research Award for young people in Technology

Transfer by the Ministry of Science and Innovation. Complementing his entrepreneurial team

is Pablo Ribeiro, a Brazilian with experience in business and product development who worked

at Endeavor, the most significant support network for high-impact entrepreneurs.

About Axon Partners Group

Axon is a global company focused on technology and innovation with a two-dimensional

approach: investment and consulting. Its commitment to innovation and investment in clean

technologies positions it as a strategic partner for companies in search of growth and

development in the field of sustainable energy and digitalization, managing assets of more

than €120 million dedicated exclusively to this strategy. The company employs around 90

experienced professionals covering Europe, the Americas and the Middle East and North

Africa, and is listed on the Madrid Stock Exchange [BME: APG] and manages capital of €685m.

About Innoenergy

EIT InnoEnergy operates at the heart of the energy transition and is the main driver of

innovation in sustainable energy, providing the technology and skills needed to accelerate the

green deal, move towards the European decarbonization target and improve energy security.

Ranked as the most active investor in the energy sector in 2022 by Pitchbook, named by Sifted

in 2023 as one of the top 10 investors in European deeptech, and recognized in 2022 as

Europe’s most impactful cleantech investor, EIT InnoEnergy supports innovation in different

thematic areas including energy storage, transport and mobility, renewable energy, and

sustainable buildings and cities, leveraging its trusted ecosystem of more than 1200 partners

and 29 shareholders.EIT InnoEnergy leads three strategic European initiatives including the European Battery

Alliance (EBA), the European Green Hydrogen Acceleration Centre (EGHAC) and the European

Solar Photovoltaic Industry Alliance (ESIA).

About COREangels Climate

COREangels Climate is the first Italian investment vehicle specialized in climate technology

start-ups located in Southern Europe, including Italy, Spain and Portugal. It is part of the

international group COREangels International, and invests in early-stage technologies with a

strong hardware component, capable of addressing the main climate challenges in the

reduction and elimination of CO2 and other GHGs.

As an active co-investor, COREangels Climate not only provides capital, but also valuable

knowledge and support in networking, expanding the reach and impact of the startups it

supports. With a strong commitment to a greener future, COREangels Climate is at the

forefront of promoting a more resilient and environmentally friendly business ecosystem.

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