Amsterdam-based global accelerator-VC Rockstart announced on Wednesday that it will collaborate with Fredericia, Denmark-based sustainable energy company Ørsted to identify innovations for a future powered by renewable energy.
According to a statement from Rockstart, the partnership will identify and accelerate innovative startups that offer renewable energy solutions. The partnership will pilot their technology and mature it for scaling across the industry.
Aim of this partnership
The two companies will launch an accelerator programme focused on energy system integration as part of Ørsted’s new Innovation Hub in the Netherlands. The Hub, and a dedicated Ventures and Open Innovation team, will connect the regional innovation ecosystem with Ørsted’s expertise and resources.
Rune Theill, CEO and co-founder of Rockstart, says, “Ørsted is a leader in the transition to clean energy which is urgently needed both from a climate and security perspective and we are proud to partner with them. By partnering with Ørsted we aim to empower more purpose-driven founders to develop renewable energy solutions and build a sustainable and resilient energy system. We believe this partnership and programme is a great opportunity for energy startup founders to fast track their solutions by having them tested and ready for commercial use.”
Rockstart has run over 30 programmes dedicated to startups innovating in tech, energy, agtech, and foodtech since its founding in 2011. To date, the company has leveraged an international network of investors, mentors, experts, and corporate partners to support over 260 ventures that have raised more than €150M of funding.
What does Ørsted offer?
Ørsted is named after Hans Christian Ørsted, the Danish scientist who discovered electromagnetism in 1820. Ørsted claims its curiosity, passion, and interest in nature encompass everything needed to create a world that runs entirely on green energy.
The company develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted also claims to be the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative (SBTi).
Rasmus Errboe, SVP, Head of Continental Europe, Ørsted, says, “Innovation is crucial in the energy transition. It has been the key to the success of the offshore wind industry in Europe. We are confident that together with Rockstart we can support promising systems integration initiatives. We are facing major challenges in the transition to the Netherlands which runs entirely on green energy. Think of solutions for electricity surpluses and shortages, network instability and bottlenecks. We look forward to further helping the Netherlands in achieving all climate objectives with our new Innovation Hub, especially for promising companies and initiatives.”
One of Europe’s first startup accelerators
Founded in 2011, Rockstart is a domain-focused accelerator venture capital firm that provides follow-on growth funding to support and empower the “best” startups on their way to success across four domains: energy, health, agrifood, and emerging technologies.
The firm also provides startups with access to capital, market, community, and expertise by connecting them to partners, investors, mentors, and the wider Rockstart network.
Since its inception, Rockstart has invested in more than 260 startups and its alumni value to date is $1B. The company has a team of more than 40+ professionals dedicated to empowering ‘purpose-driven founders to become scalable and drive positive change on a global scale’.
Rockstart has had notable exits such as Wercker, Bouw7, iClinic, 3D Hubs, and Brincr – the last two being in 2021. The company has offices in Amsterdam, Copenhagen, and Bogota.
In May, 2021, Rockstart announced the closing of its AgriFood fund at €22M. The fund saw participation from Vaekstfonden’s Green Future Fund, new informal investors Joke Pronk, longtime Rockstart investors Marcel Beemsterboer, Jasper de Rooij, Hans Maltha, and new investor global dairy cooperative Arla Foods.