The Techstars Alabama EnergyTech Accelerator is in its third year with 10 startups from Alabama, other states and even other countries. Alabama NewsCenter is putting a spotlight on all the companies in the 2022 class.

In this Startup Spotlight, we look at Eneryield.

Techstars Alabama EnergyTech Accelerator 2022: Eneryield from Alabama NewsCenter on Vimeo.

Company: Eneryield

Company hometown: Gothenburg, Sweden

Leadership: CEO and co-founder Johan Rådemar, co-founder Ebrahim Balouji and co-founder Karl Bäckström

Alabama NewsCenter: What is your company’s overall focus and mission?

Johan Rådemar: To future-proof electric power systems in grids and industry while contributing to an electrified society, empowered by renewable energy sources.

Johan Rådemar is CEO and co-founder of Eneryield. (Michael Tomberlin / Alabama NewsCenter)

ANC: What inspired you to start this company? How do you want to contribute to the future of energy and tech?

Rådemar: The co-founders Karl Bäckström and Ebrahim Balouji shared an office at Chalmers University of Technology in Gothenburg, Sweden. Ebrahim is an expert within power quality and power systems, and Karl knows everything about machine learning. They realized their complementary competencies could be utilized to analyze voltage and current data in a more efficient and accurate way. They believed the work was commercially feasible and could have a huge environmental impact. Therefore, they brought their idea to another masters program (entrepreneurship and business design) at Chalmers University. That’s where I met them and together we started to work on commercializing the idea.

The intersection of competencies within the team and the idea of AI-powered analytics in the power grid has the ability to target SDG 7 through ensured access to energy, increased energy efficiency and eased integration of renewable energy sources.

Currently, the integration of AI is at a low level in the energy sector and this innovation can contribute to accelerate such development. Also, the scalability of the core tech increases the chances of success and large-scale impact.

ANC: What attracted you to the Techstars Alabama EnergyTech Accelerator?

Rådemar: Eneryield wishes to target the U.S. market, and the program is a great opportunity to do so. Also, the focus of EnergyTech resembles the company profile of Eneryield very well.

ANC: What is the No. 1 thing you would like potential investors to understand about your company?

Rådemar: Eneryield can save a lot of cost related to O&M for utilities. The solution is scalable and the whole world is a possible market.

ANC: What takeaways do you hope to gain for your company by participating in the Techstars Alabama EnergyTech Accelerator?

Rådemar: Get a great introduction to the U.S. market, potential customers and investors.

ANC: What is your opinion of Birmingham so far?

Rådemar: It is great! The city and its surroundings are beautiful and the people are very friendly.

You can find Eneryield online at eneryield.com or at LinkedIn, on Facebook and Instagram.

Alabama NewsCenter is highlighting the 2022 Class of startups participating in the Techstars Alabama EnergyTech Accelerator. Learn more about Techstars here.