EDP Ventures Brasil, EDP's venture capital investment vehicle, made a financial contribution of R$ 2 million to Time Energy, a company that provides technology and equipment for the electricity sector. The Campinas startup developed an IoT (internet of things) solution aimed at the efficient management of energy consumption in commercial and industrial establishments.

Time Energy was created in 2012 with the mission of assisting residential and business customers in accessing information and in controlling energy consumption. The approach with EDP Ventures took place in 2019, when the startup was one of the finalists in the Starter Business Acceleration, the EDP group's global acceleration program.

Time Energy develops its own hardware with state-of-the-art consumption meters and has a platform that allows the analysis of all generated consumption data, bringing greater energy efficiency to various profiles, such as shopping malls, airports, universities, hospitals, industries, hotels, franchises and banks, among others. The startup's solutions provide customers with accurate, real-time information on detailed equipment consumption, and even recommendations to reduce electricity costs.

“In order to continue to lead the energy transition, EDP's strategic objective is the empowerment of its customers, offering information and solutions that optimize the consumption of electricity and, thus, improving energy control and efficiency. Time Energy attracted our interest in having a team of brilliant founders, with an outstanding track record in ANEEL's Research and Development programs, and who managed to put on the market products created in the main research centers in the country ”, says Rosario Cannata, manager Investment Fund of EDP Ventures Brasil.

EDP Ventures' investment will enable Time Energy to leverage its commercial traction in various industries and increase the scalability of its business, with state-of-the-art technology.

"Our experience with EDP has been positive since the first day. The Starter Business Acceleration enabled our relationship with different companies and people in the group, in addition to great learning. This investment will allow the expansion of our business and a great advance in our technology, because, in addition to capital, we have EDP's expertise in the electrical sector to build a joint and innovative solution”, says Leandro Pereira, CEO of Time Energy.

About EDP Ventures

Created in September 2018, EDP Ventures Brasil is the first venture capital vehicle of the Brazilian electric sector, with resources to be used for startups operating in six verticals: renewable energy, smart grids, energy storage, digital innovation (block chain, IoT, big data, virtual reality), customer-focused solutions and cross-cutting areas (legaltechs, fintechs, HRtechs). Interested people can visit www.edpventures.vc for more information.

In addition to Time Energy, startups Colab, Dom Rock, Delfos and Fractal Engenharia e Clarke Energia have already received investments in Brazil. Since 2008, EDP Group's Venture Capital conduit s have invested 38 million euros globally in 33 startups, which together employ more than 1.200 employees and have more than 140 million euros of revenue per year.

About EDP in Brazil

With over 20 years of experience, EDP is one of the largest private companies in the electricity sector operating throughout the value chain. The Company, which has more than 10,000 direct and outsourced employees, has six hydroelectric and one thermoelectric generation units, in addition to operating in Transmission, Commercialization and Energy Services. In Distribution, it serves about 3.5 million customers in São Paulo and Espírito Santo, in addition to being the main shareholder of Celesc, in Santa Catarina. In 2020, it was elected the most innovative company in the electricity sector by the Valor Inovação ranking, of the Valor Econômico newspaper, and is a reference in Governance and Sustainability, having been on the B3 Corporate Sustainability Index (ISE) for 14 consecutive years.

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