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RWE Innovation Division expands into the USA, bringing high-tech
products from Silicon Valley to Germany
Essen, 05/02/2016
- Close collaboration with innovative technology start-ups
- Foothold in the US infrastructure market for EV chargers
- USD 15 million investment in a reputable venture capital fund focusing on
green Technologies
RWE is making great strides with its innovation campaign. Following his visit to the
Californian RWE New Ventures LLC in Silicon Valley, CEO of RWE AG, Peter Terium,
announced the start of a range of collaborative projects with innovative technology start-ups.
“I decided to make Innovation a CEO priority, as I firmly believe it is crucial to our future
success. And the progress our Innovation Division has made in the space of one year is quite
remarkable. Our small US team in the hot spot of Silicon Valley plays a very special role in
this”, says Terium.
RWE prefers partnerships of equals: “There are many clever start-ups prepared to crunch the
numbers for anything you may need, but we have the customers – all 23 million of them –
and we know what they want”, says Peter Terium. Collaborating with US start-ups is a
win-win situation because both sides benefit: “It allows us to develop products that meet
customer needs – we want to make energy an enjoyable experience for our customers in
Europe and the USA”, says the CEO.
RWE is the first German provider to introduce the products of the “Bidgely” start-up company
to Germany. “Customers will be able to track the power-hungriest appliances in their own
home and in real time too”, says Thomas Birr, Head of Strategy and Innovation at RWE. They
will be able to answer questions like: ‘What does a load of washing really cost me?’, or
‘Whoops, did I forget to turn the iron off?’ just by glancing at their mobile phone. “Having
access to such personalised energy intelligence is a real bonus, particularly given our aging
society”, says Birr.
The existing collaboration with US provider KnGrid will also be expanded. For RWE, this is all
about gaining a foothold in the US infrastructure market for electric vehicle charging points.
Thomas Birr: “If we succeed in making our mark in the US growth market of electric mobility
by marketing our charging technology there, it could prove to be a very lucrative business for
us.” For, unlike the situation in Germany, there are considerable tax benefits for people
buying electric vehicles in the US, which makes them a popular option. There are already
over 52,000 EVs on the road in California – or half of all electric vehicles in the US and a
quarter of the global market.
Together with the Californian innovation platform “Mach 49“, RWE wants to export the
successful business model “PowerHouse” that was originally developed in the Netherlands
and market it to corporate customers in the USA. As the energy service provider, RWE will
help companies purchase power at favourable rates, reduce their power consumption and
also market the energy they produce themselves. RWE involvement with STEM also
promises to deliver innovations for the industry. The Californian supplier of smart energy
RWE AG | Corporate Communications | Opernplatz 1 | 45128 Essen | P.O. box 10 30 61 | 45030
Essen
T +49 201 12-15120 or -15095 | F +49 201 12-15252 or -15094 | E [email protected]
Follow us on Twitter: @RWE_Group
Press Information
storage units is rated by the World Economic Forum as one of the 50 most promising
start-ups for new technologies.
However, RWE does not want to restrict itself to individual partnerships alone in Silicon
Valley: “We want a piece of the entire spectrum of innovation”, says Peter Terium, “which is
why we intend to invest USD 15 million in a reputable venture capital fund focusing on green
technologies.”
What’s more, RWE also plans to set up a strategic venture capital fund of its own, with a
ceiling of EUR 130 million.
RWE AG | Corporate Communications | Opernplatz 1 | 45128 Essen | P.O. box 10 30 61 | 45030
Essen
T +49 201 12-15120 or -15095 | F +49 201 12-15252 or -15094 | E [email protected]
Follow us on Twitter: @RWE_Group