TotalEnergies Buys 3 Start-ups In Electricity Business And 56% Stake In Time2plug

(RTTNews) - TotalEnergies SE (TTE), a French multi-energy firm, Tuesday said it has acquired three start-ups as part of its efforts to accelerate its development in the electricity business.

The company noted that Dsflow, Nash Renewables and Predictive Layer start-ups have benefited from TotalEnergies On acceleration program based at STATION F in Paris.

The company is also taking control, with a 56% stake, of Time2plug to facilitate and accelerate the deployment of EV charging points in France for its small B2B customers.

TotalEnergies has also signed commercial contracts with ten other start-ups who took part in the acceleration program, to continue to benefit from their innovations.

The company said the acquisition of Dsflow will provide its multi-site, electricity-intensive B2B customers with an innovative Software-as-a-Service solution or SaaS to pilot their asset in real time and optimize their procurement strategy.

TotalEnergies has also decided to integrate the software platform developed by NASH Renewables to optimize the design and operating parameters of its renewable projects.

TotalEnergies said it will improve the performance of its trading operations by internalizing Predictive Layer's machine learning and artificial intelligence solutions.

Stéphane Michel, President, Gas Renewables & Power at TotalEnergies, said, "All these solutions will enable us to improve our B2B offers; the development of our renewable projects; our market analyses; and the deployment of EV charging points. These operations testify to the effectiveness of our "TotalEnergies On" acceleration program, which enables us to identify, accelerate and, for the most relevant, forge partnerships with promising start-ups."

TotalEnergies On, since its launch in May 2022, has already supported 19 start-ups during 2 six-month sessions. The program is currently welcoming its third cohort, composed of ten participants, and the fourth session will begin in April 2024.