German-Portuguese Cleantech Startup ANNEA Raises €1 Million to Assist in Europe’s Energy Transition

Published on: 21 May 2022 06:02 PM
by KnowESG

ANNEA has just secured €1 million of fresh funding. The cleantech startup is based in Hamburg and Lisbon and was co-founded by Faber and Innopart. It's on a mission to make wind and solar assets more efficient.

On a mission to accelerate the energy transition by helping to make wind and solar assets more efficient, ANNEA has just secured €1 million of fresh funding.

Founded in 2019, ANNEA was developed with the aim to help renewable energy companies reduce their operations and maintenance costs.

With Europe on the road towards net-zero and pushes for more renewable energy coming from society, governments and corporates alike, this market area is massive.

There's huge potential to help make the industry more efficient and an opportunity to make green energy more affordable.

Dr Maik Reder, ANNEA Founder & CEO, commented:

"As the worldwide energy demand is continuously increasing, the renewable energy market needs to grow significantly within the next decade. Due to high O&M costs, the renewable energy industry faces various challenges when compared to conventional energy resources. ANNEA combines several cutting-edge technologies, such as Digital Twins, Machine Learning and physics-based modelling, to make renewables more cost-effective and reliable. ANNEA's all-in-one platform covers the whole O&M process of renewable energy assets - bringing together the world of mechanical engineering and AI to make wind and solar energy more efficient."

The insights from ANNEA are highly actionable and valuable in making wind and solar energy more efficient and will no doubt incentivise the adoption of these technologies.

Marcel Frenzel, ANNEA Founder & CCO, added:

"ANNEA is investing the additional capital in stabilising and expanding its position in the renewable energy market by expanding the team of experts that combines deep technical knowledge in the industry with digitalisation. Capital will enable ANNEA to make its platform available to global industry players, while reliability will provide confidence in data-driven innovations that revolutionise operations and maintenance. With ANNEA, global industry players are leveraging hidden potential while making a significant contribution to net-zero emissions. By 2025, ANNEA hopes to become the number one international predictive maintenance company in the renewable energy sector."

Source: EU-Startups