Plug and Play Partners with Siemens to Launch New Energy & Sustainability Innovation Platform

To address the rapid changes in the energy market, Siemens is partnering with leading accelerator Plug and Play to identify and work with startups that have the potential to disrupt the energy industry.

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Plug and Play

Jul 28, 2017, 22:53 ET

SUNNYVALE, Calif., July 28, 2017 /PRNewswire/ -- Siemens participates in the newly founded Plug and Play Energy & Sustainability Program, which focuses on new technologies that can be adapted across the energy market value chain. This program renders a network between leading startups, corporations, and venture capitalists at the heart of Silicon Valley. Siemens joins the platform to identify startups for collaborative projects. Technical focus areas include digital platforms and new business models in the energy market, energy efficiency, distributed energy resources; wind, solar, energy storage and microgrids, electric mobility, alternative energy, etc.

Plug and Play Energy & Sustainability is a program designed to bring innovation to the energy sector. Twice a year, they will run 3-month programs for early and growth stage startups, industry leading corporations, and venture capitalists. The goal of the program is to give startups the opportunity for pilot projects, investment, and acquisition.

"The collaboration with Plug and Play as a member in the new energy program is a key initiative for Siemens to develop the relationship with leading startup companies in the energy and adjacent markets. We are passionate about this partnership and the opportunities that come with the connection to this global ecosystem," says Zuozhi Zhao, Chief Technology Officer of the Power and Gas Division of Siemens.

"This partnership with Plug and Play supports the implementation of our innovation roadmap for topics that address the changes in the energy market. Key targets include the reduction of emissions, the utilization of digital technologies and new business models, the increase of energy efficiency, and the management of the growing renewable install base, all embraced by the Energy and Sustainability Program," says Bernd Wachmann, Head of Innovation of the Power and Gas Division of Siemens. "With its global customer base, its broad portfolio and the global sales channels Siemens offers huge opportunities for startups."

"Plug and Play has built the critical mass and developed the know-how to foster startup innovation in partnership with the leading corporations around the world. Our partners in the energy sector have line-of-site into the emerging technologies across various sectors like finance, automotive, retail, new materials, etc. The Energy platform serves to find new technologies in artificial intelligence, predictive maintenance, blockchain, data analytics, machine learning, supply chain optimization, Industrial IoT, asset tracking, cybersecurity, and more in order to adapt them for the energy sector," says Wade Bitaraf, Director of Plug and Play Energy & Sustainability.

Plug and Play Energy & Sustainability will run 12-week business development programs twice per year, accepting up to 20 startups per class. This program is stage-agnostic and does not require equity or fees from the startups to participate. For startups and corporations interested in joining, contact [email protected]

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2016, which ended on September 30, 2016, Siemens generated revenue of €79.6 billion and net income of €5.6 billion. At the end of September 2016, the company had around 351,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

About Plug and Play
Plug and Play is a global innovation platform. We connect startups to corporations and invest in over 150 companies every year. Since inception in 2006, our programs have expanded worldwide to include a presence in 24 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 180 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 365 networking events per year. Companies in our community have raised over $6 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com/energy

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SOURCE Plug and Play