Startups behind energy optimization platforms for smart buildings and industrial machines were among the award winners
.jpg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale "A large group of award winners in front of a wall of sponsors")
ABB’s electrification business has recognized four startups for creating sustainable AI solutions.
The competition, now in its fifth year, attracted 164 participants from more than 36 countries.
Startups were tasked with developing AI systems that would advance low-carbon.
energy transition.
The winners of the 2024 ABB Startup Challenge were announced in Zurich, Switzerland.
Winners were awarded a deal with ABB worth $30,000 to develop their idea into a Minimum Viable Product.
The four winning startups also receive mentoring support from Microsoft and a six-month membership to SynerLeap, ABB’s startup accelerator.
“The ABB startup challenge is all about enabling collaboration, from sharing insights to building on each other’s strengths,” Anton Kotov, ABB’s head of corporate strategy and mergers and acquisitions. “Our aim is to create long-term relationships with talented entrepreneurs.
Among the winners was Enline from Portugal, which developed grid management software that leveraged AI and digital twins to improve grid monitoring and optimization without the need for additional sensors.
Also receiving an award was Toronto-based Edgecom Energy which came up with an AI-powered digital optimization engine for industrial and commercial buildings. Edgecom’s virtual energy manager continuously optimizes energy use, analyzing real-time data and external factors like weather and energy prices.
Other winners included Germany’s Kugu Home, which created an automated solution for optimizing energy in smart buildings and Canadian firm Xaba, which developed a generative AI solution for optimizing industrial machines.
“The judges were hugely impressed by the caliber of entrants and the solutions they brought to this year’s contest,” Kotov said. “All the entries showcased how AI could enable the energy transition and demonstrated the fresh new thinking that is needed to help tackle the issues facing the energy sector.”
In addition to the four winners, ABB said it is still collaborating on commercial contracts with finalists from previous years.
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