Acciona to back renewable energy startups with new programme

Spanish infrastructure group Acciona SA (BME:ANA) has unveiled a corporate accelerator programme aimed at supporting renewable energy and sustainable infrastructure startups in Spain.

The platform is the first of its kind in Spain and will function under the umbrella of the company’s I’mnovation initiative for technological innovation and research, Acciona said last week. Under the new programme, Acciona will provide its technical capabilities and research and development (R&D) facilities to sector startups and partners in order to “drive disruptive technologies and new businesses in the areas of renewable energy and sustainable infrastructure.”

Acciona has pre-qualified 16 companies from four countries to compete for entering the accelerator's first round. The candidates had to offer technological solutions within Acciona’s three core business areas -- construction, water and renewable energy -- and technologies with a horizontal impact. The selected candidates will work on a pilot project linked to Acciona in order to assess how the technologies they provide apply on a large scale. They will be offered Acciona’s financial, operational and business support and will also be able to enter commercial, partnership or funding agreements with the company within the three-month programme, expected to be announced soon.

The Spanish infrastructure group has invested EUR 194 million (USD 228.3m) in R&D initiatives in 2016, it says. Through its I’mnovation programme, the company aims to accelerate technology trends and “materialise them in competitive applications that are compatible with its sustainable business model.”

(EUR 1.0 = USD 1.177)

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