Dortmund | 1. April 2019
The newly established company urban ENERGY is developing an innovative IoT platform for the smart cities of tomorrow. The company's investors include the IT service provider adesso and Phoenix Contact Innovation Ventures, the investment company of Phoenix Contact Group.
urban ENERGY's innovative platform will tackle one of the main challenges of electromobility: The increasing number of electric vehicles, and the associated charging stations, will lead to higher peak demand for electricity and overloaded power grids.
To tackle that problem, urban ENERGY has developed software that uses artificial intelligence to network energy generators and users. Predictive algorithms determine the best possible charging time for electric vehicles, based on constantly updated data regarding energy consumption and supply. The advantages include the optimisation of grid utilisation by energy generators and cheaper rates for consumers, which will save them money.
urban ENERGY’s modular platform can be used in a number of areas, and with a variety of business models. For example, residential property developers, municipal utilities, and commercial and industrial companies can use it to offer their customers time-dependent rates.
The concept for urban ENERGY emerged from adesso’s energy sector business. The founders, former adesso managers, also managed to convince Phoenix Contact Innovation Ventures of their innovative business model. The globally active Phoenix Contact Group offers products and services in the fields of electrical engineering and automation – as a supplier of components, it is therefore the ideal partner for a joint investment in this new company. Both companies are making an initial investment of 20 percent in the launch of urban ENERGY.
Paul Dittrich, Co-founder and Managing Director of urban ENERGY, sees the combination of the two investors as a stroke of luck: “With adesso and Phoenix Contact we have the support of two strong players, who bring market-leading IT and electrical technology expertise to the table. Together, with our energy and mobility services, we will be able to realise our vision and play a significant part in shaping the transformation of the energy system in urban spaces.”
Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures, is equally pleased to be involved in the project: “The provision of comprehensive intelligent charging solutions for electric vehicles is an important step towards climate-friendly mobility. urban ENERGY's solution contributes to that goal. Together with our e-mobility solutions, we hope that will result in numerous exciting projects with our customers.”
The transaction is subject to approval from the Federal Cartel Office (Bundeskartellamt) and other bodies.