Three global start-ups to collaborate with TotalEnergies on sustainability solutions, after winning OCBC Innovation Challenge 2023
Three companies won a big competition about creating new, eco-friendly ideas. Nunam Technologies from India, which works with used lithium-ion batteries; Bia Power from Spain, which is a new company focusing on clean technology; and Pili Seal from the Philippines, which makes eco-friendly sealants, are the winners. They won the second OCBC Sustainability Innovation Challenge. These companies will test their ideas with parts of TotalEnergies, a big energy company, in early 2024. OCBC is giving each winner $50,000 to help them with their projects.
The OCBC Sustainability Innovation Challenge started in 2022. Its goal is to work together with businesses to come up with new ideas for sustainability. It also gives people who have these new ideas a chance to share and grow them. This year, almost 90 ideas were sent in from 27 different countries. They were answering four special challenges set by TotalEnergies. These challenges were about renewable energy and eco-friendly ways to travel. These areas are very important for changing how we use energy and for helping to stop climate change.
1. Find new uses for old electric vehicle batteries to use them again safely.
2. Get more local power systems set up in Asia.
3. Create affordable ways to use renewable energy to make electric vehicle charging stations work better.
4. Make manufacturing materials that are better for the environment.
The Solutions for Success
Nunam Technologies began by taking old laptop batteries and using them again. They learned from this and now also reuse electric vehicle (EV) batteries, making them last longer. These reused batteries, which can connect to the internet, are flexible and can be put together in different ways. They can be used for many things, like small solar power systems in homes or as backup power for big buildings and businesses.
Bia Power made a smart way to charge electric vehicles. They gather information from power plants, people who run lots of vehicles, and places where EVs are charged. Their system watches, plans, and improves how electric vehicles are charged. It is expected to:
1. Permit an increase of EV charging by up to 80% in settings with restricted power capacity;
2. Cut electricity expenses by as much as 50%;
3. Enhance the management of power sources and facilitate the incorporation of renewable energy.
In the Philippines, they take the sap from the Pili tree and use a special method to make essential oils. After this, they usually throw away the leftover resin. But a company called Pili Seal found a unique way to use this leftover resin. They make a strong glue and sealant called Pili Seal. This product is healthier to use than other glues and sealants that are made with chemicals. Pili Seal has been used in airplane making and in building things like houses. People think that more and more people will buy Pili Seal in the next few years, with its sales increasing by about 6% each year until 2026.
The people who win the OCBC Sustainability Innovation Challenge will start testing their ideas with TotalEnergies in early 2024. They will also skip ahead to the last round of another competition, TotalEnergies On, happening in February 2024. TotalEnergies On is a program by TotalEnergies that helps new companies focused on electricity. It is based at STATION F in Paris, which is the biggest place in the world for new companies to grow. This program started in May 2022 and helps promising new companies find ways to do better in electricity and renewable energy.
The winners of TotalEnergies On will get to work with experts in new energy from all over the world and connect with more than 150 important investment groups. They will also work closely with different teams at TotalEnergies to test and improve their new products, services, and business ideas.
“One of OCBC’s core strategic priorities is to drive the transition to a low-carbon world. The urgency of this goal has heightened further based on the latest research which says that the window to avoid 1.5°C of global warming will close before 2030 if emissions aren’t reduced sufficiently. Initiatives like the Challenge, where we partner like-minded industry stakeholders such as TotalEnergies to support green solution providers and co-develop sustainable innovations, are essential for accelerating our progress on this goal. This year’s winners impressed us with their keen understanding of the gaps in the renewable energies and sustainable mobility market, and the technical soundness and potential commercial viability of their solutions. We are committed to supporting them and more aspiring solution providers to bring their innovations to fruition.”
said, Mr Mike Ng, Group Chief Sustainability Officer, OCBC
“TotalEnergies has been actively contributing towards Singapore Green Plan 2030. Innovation plays a critical role in accelerating our energy transition progress, with the Company investing over US$1 billion in R&D and innovation, of which 65% is dedicated to decarbonization solutions. As we continue to push forth the frontiers of innovation, partnering like-minded players such as OCBC on this Challenge, enables us to co-create and implement innovative sustainable solutions with start-ups. It also allows TotalEnergies to keep abreast of new technologies that are relevant to our business, thus helping to future proof our existing solutions to better serve customers.”
– said, Mr Ting Wee LIANG, Country Chair Singapore and President, TotalEnergies Asia-Pacific & Middle East – Marketing & Services
“India desperately needs more clean energy. We’re pleased that OCBC and TotalEnergies acknowledge the importance of second-life battery solutions for decarbonizing electric mobility and renewable energy storage. Collaborations between startups and large companies can accelerate the inclusive energy transition. Nunam’s team is thankful for the support and is dedicated to advancing second-life battery reuse in the APAC region. We look forward to working with both the companies to realise this goal”.
– Darshan Virupaksha, Co-Founder & CEO of Nunam Technologies
“We are thrilled to be part of this program, as it has provided valuable insights into the challenges confronting e-mobility companies in Singapore. Our team is excited about the substantial growth potential of EVs in this market. We also appreciate the opportunity to collaborate with industry leaders to develop innovative solutions that will contribute to the sustainability of the Asian mobility sector.”
– Roby Moyano, Head of Product and Co-Founder, Bia Power
“The OCBC Sustainability Innovation Challenge helped me to share and propagate my perspective that beneficial and sustainable usage can be found from waste materials, such as my Pili Seal invention. I hope we can inspire greater innovation in the global arena, while empowering the livelihoods of our local farming community through new streams of income and opportunity. With the support of OCBC, TotalEnergies and Hutchinson, it is now possible to revolutionize the global aviation sector through green initiatives and sustainable innovation.”
– Mark Kennedy E. Bantugon, CEO and Founder, Pili Seal