Australian startup LexX Technologies, an emerging global provider of AI-powered maintenance for complex assets, has announced global energy company EDP has named it overall winner of the first edition of Starter Acceleration Program.
As part of Web Summit in Lisbon on November 6, LexX was awarded a prize of 50,000 euros and has secured the opportunity of trials of the LexX platform at an EDP wind farm in Houston.
A member of the Dow Jones Sustainability Index, EDP is a global leader in the energy sector with a presence in 16 countries over four continents. It is the fourth-largest wind energy production company in the world and 70 per cent of its energy is produced from renewable resources.
EDP is always looking at tech to innovate the energy sector. It challenges the tech community to pitch their most innovative solutions to help power the energy transition. Its Starter Acceleration Program was designed to connect EDP and startups from all over the world. This year, EDP brought the program’s finalist startups to the world’s largest entrepreneurship showcase – Web Summit.
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Web Summit brings together CEOs of the world’s largest companies, startups, investors, journalists and opinion-makers with a focus on an open innovation philosophy looking for disruptive business models and technologies for the energy sector.
This year’s Starter Acceleration Program brought together more than 30 global energy sector innovators of which the final nine were invited to present in Lisbon. In the final pitch, the nine startups from seven countries (Australia, Spain, Greece, Brazil, Mexico, USA and UK), presented their ideas at Web Summit.
LexX won based on its AI powered virtual assistant, which enables maintenance technicians to rapidly isolate and resolve equipment faults. LexX’s platform leverages the latest in AI, Machine Learning and Natural Language Processing to deliver advanced troubleshooting capabilities and real-time solutions to a technician’s device – anywhere, any time.
On the win, LexX Technologies Board Advisor Hersh Sahai said, “We are exceptionally proud to have been selected by EDP and Partners as overall winner of their global innovation award at the recent Web Summit in Lisbon. EDP are recognised as a leading supplier of renewable energy and we believe our AI powered maintenance platform can significantly contribute and support EDP’s initiatives in this arena.”
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EDP Director of Entrepreneurship Carla Pimenta said EDP chose LexX as the big winner for presenting a solution that in the future will make it easier to maintain equipment like EDP uses.
“This is also a solution that can be used in other industries, developed by a team that from the outset showed tremendous dedication and professionalism, which makes LexX even more interesting,” she said.
LexX Technologies CEO and founder Anant Sahay said, “This win is a strong endorsement of the strength of our offering. The mandate for clean energy has never been stronger and we are proud to be partnering with EDP in several strategic initiatives around its wind turbine operations and maintenance.”