TotalEnergies Acquires Three Start-Upgrades to Boost Its Electricity Business
December 12 2023 - 3:13AM
Dow Jones News
By Andrea Figueras
TotalEnergies said that it has acquired three start-ups for an
undisclosed amount to accelerate its development in the electricity
business.
All three companies, Dsflow, NASH Renewables and Predictive
Layer, participated in TotalEnergies On, an accelerator program
that supports start-ups developing innovative solutions in the
electricity and renewable energy sectors, the French oil-and-gas
major said on Tuesday.
TotalEnergies will integrate a Software-as-a-Service solution
from Dsflow, a software platform developed by NASH Renewables and
Predictive Layer's machine learning and artificial intelligence
solutions, it said.
"The success of the collaborations and tests carried out during
their participation in the program has led TotalEnergies to
negotiate their acquisition and integration into its business units
which with they collaborated," the company said.
The company is also taking a 56% stake in the start-up
Time2plug, which will enable it to boost the deployment of charging
points for electric vehicles in France.
TotalEnergies has also signed commercial contracts with ten
other start-ups who took part in the acceleration program, it
said.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
December 12, 2023 02:58 ET (07:58 GMT)
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