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Making clean and affordable energy available for everyone is one of the greatest challenges. Right now, there is a necessity for a drastic change in the energy transition. And, many companies are debating how to achieve this transition in energy and what different they should do.
Utrecht-based iwell is one of the energy startups that has built a portfolio of smart battery solutions. One of its products is the Cube battery system, which enables sustainability without being too expensive. It focuses on apartment complex owners, especially housing corporations, homeowner associations and real estate investors.
Investment from DOEN Participants
Recently, DOEN Participants, an investment company that funds social, innovative and sustainable enterprises has invested in iwell. It helps the Netherlands energy startup accelerate the energy transition with the latest round of investment.
Fully recyclable power storage system
Cube is iwell’s first fully recyclable power storage system. It levels off-peak loads for high-rise buildings and apartment complexes letting them save thousands of euros every year. This power storage system enables housing corporations and social tenants to benefit a lot.
Focuses on people with low budget
Besides storing and returning clean solar energy when there is not much sunlight, Cube also supplies power when there is high demand. This way, it lowers peak load letting corporations save money. iwell makes sure to focus on people with a low budget, a section that is usually forgotten when it comes to achieving sustainability.
Lets users save time and money
When it comes to installing solar panels, it is time-consuming for all tenants to agree to return to solar energy but Cube helps circumvent this issue. “By placing Cube in the central facilities of the apartment complex, the housing corporation remains the owner. All endless meetings are no longer necessary. This saves time and immediately yields money for tenants”, explains Jan Willem de Jong, Commercial Director at iwell. “Instead of just talking about sustainability, this business model makes immediate action possible and lets tenants benefit directly.”
Achievements of iwell
BNG Bank endorses the potential of iwell battery system. The Utrecht-based startup won VNG’s and BNG’s Global Goals Social Impact Challenge in 2018. As of now, the power storage startup powers housing corporations in Eindhoven, Amersfoort, Amsterdam, Ouddorp, Alphen aan den Rijn and Veenendaal are already using the system. Soon, corporations fro Apeldoorn, Waddinxveen and Nijmegen and a major Amsterdam property investor will also use it.
Stay tuned to Silicon Canals for more updates in the tech startup world.