Stockholm, Sweden, March 23, 2019 – Blue, a Stockholm-based mission-driven investment company, today said that a radical approach to collect wind data and provide predictive insights to maximize wind energy output had won a competition it sponsored to find tomorrow’s clean water, sustainable energy and health business innovations. The jury selected Alveo Wind Solutions as the winner from six entries shortlisted from a total list of 15 hopefuls.
Alveo Wind Solutions stood out due to the potential offered by its end-to-end solutions for collecting wind data at a higher resolution throughout a project life-cycle and provide predictive insights designed to maximize wind energy industry output. The competition was a collaboration between Blue and a group of other partners including the Stockholm Royal Institute of Technology (KTH) Innovation, Venture Cup and the Stockholm School of Entrepreneurship.
“Alveo was able to demonstrate that they were able to deliver on their vision to disrupt the utilization of traditional fixed met masts and fixed remote sensing (RS) devices with a cheaper, more reliable alternative by 2025,” said Blue co-founder and CEO Anders Jacobson.
Under the terms of the ED Global Challenge, entrepreneurs with a startup idea that could contribute to the clean water, sustainable energy and health ambitions of the UN Sustainable Development Goals were able to apply for a chance to win 5 000 SEK in Proof of Concept funding from KTH Innovation, with a chance to get up to 300 000 SEK to fund their startup project. Additionally, Blue, the principal ED Global sponsor, provided competitors the opportunity to pitch their idea to them in a ‘Dragons Den’ chance to win up to 500 000 SEK in additional investment.
“Blue embraces investing in human capital because human ingenuity has the ability to bring to life sustainable technologies and solutions that can improve human and planetary well-being” said Ander Jacobson. He noted that Blue, founded in 2017, has rapidly emerged a major player in the global impact investing arena with investments in companies such as Bluewater, a world leader in drinking water technologies and solutions, as well as a growing portfolio of game-changing companies, including Climeon, Baseload Capital, Save by Solar, FloWater,Spout, TAPP, Chilean premium eyewear maker Karün and Visiba Care.
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