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Accelerator

Australian startups Onvol and Economical Energy chosen for Shell’s climate tech accelerator Studio X

- October 23, 2023 2 MIN READ
Onvol Molly Fullee
Onvol cofounder Molly Fullee
Two Australian climate tech startups are among seven ideas as part of the third cohort for US-based Studio X’s global energy and climate tech innovation accelerator.

Economical Energy is a long-duration energy storage solution startup. It’s developed the VIPER – vertically integrated potential energy reservoir – a reinvention of gravity-based energy storage for suppliers to cost-effectively store cheap renewable wind and solar energy for resale at a higher price.

Onvol, which saw Molly Fullee named Best New Founder in the Startup Daily Best in Tech awards, is pioneering industrial IoT power solutions for applications in wind energy, transport, and mining. Onvol’s VolPower, an energy harvester that powers sensors installed within wind turbine blades, providing them 24/7 power for the life of the equipment with a simple plug-in-and-forget solution.

Studio X CEO Jeff Allyn said the California-based accelerator gives the seven startups involved investment, hands-on mentorship and access to world-class industry experts,

“Our accelerator program helps to close that gap through bringing together an engaged community that grows these companies at a faster rate, ultimately driving innovation, and helping to evolve global energy solutions,” he said.

Program director Max Gray said the. Studio X accelerator kicked off in 2020 to help accelerate the pace of innovation in climate tech for the energy industry and brings together great scientific minds, investors, and entrepreneurs.

“I have been privileged to see groundbreaking work in energy innovation over the past two Studio X Accelerator Program cycles,” he said.

“We can’t wait to help our new cohort members evolve and deliver viable solutions to help our industry realise step-change results in their energy transition journeys.”

The other five companies involved are:

AI Technology & Systems, a NASA iTech company that provides compressed AI models and software tailored for edge AioT (artificial intelligence of things) tiny electronics.

Austere Environmental, an environmental remediation solution specialised in extracting chemical contaminants in soil, drill cuttings, and tailings.

Flexergy, which is developing technology for a highly efficient hydrogen gas compression, storage and distribution system.

Project Geminae, an AI-powered portfolio optimisation platform, enabling predictive modelling across industries.

SeisWave, a geophysical innovation, delivering cost-effective cloud-based services with a focus on developing competitive-edge technology and transparent workflows.

More on Studio X and the accelerator program is available at x.studio.

 

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