Düsseldorf An international association for the promotion of clean technologies has awarded the German start-up Twaice the European Cleantech Company of the Year 2021. The Munich-based company, which uses analytical software to measure the health of electric cars and calculate the aging process, came off best in the Cleantech Group’s analysis.
The association, based in San Francisco, promotes energy-efficient, environmentally friendly technologies in electromobility, agriculture and other areas and publishes a list of the 100 most promising companies every year. Twaice is on it for the first time and got the most points in Europe.
“The jury was particularly impressed by the successful financing round in March and the partnership with Munich Re,” said Richard Youngman, head of the Cleantech Group. Ten months ago, Twaice received 11 million euros in fresh capital. The cooperation between Twaice and the insurance group makes it possible to insure lithium-ion batteries using the data from Twaice.
The software analyzes how operating conditions, driving style and charging behavior affect the quality of the battery. This model can be used to predict the state of the unit at a certain point in time in the future. The information helps the reinsurer, for example Munich Re in the process of appraising performance guarantee insurance for the batteries.
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Two weeks ago, Twaice joined the European Battery Alliance initiated by the EU Commission in 2017. “With our technology and our expert knowledge, we can support various players in the market to optimize the development and use of their batteries,” said managing director Stephan Rohr.
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The offer is not only aimed at insurers and car manufacturers such as Audi – another customer of Twaice – but also to fleet operators and energy companies. So far, the company, founded in 2018, has single-digit million sales. “We want to triple sales every year,” Rohr announced in 2020.
In the energy and electricity sector, however, Twaice is not the only German representative in the cleantech ranking. There are seven more that stand out with intelligent heating systems or hydrogen storage systems.
62 of the 100 award-winning companies come from North America, five from the Asia-Pacific region and 33 from Europe and Israel. The Europeans have raised a total of 1.9 billion US dollars in investments. This corresponds to around 34 percent of the capital that the 100 cleantech companies received.
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