- Phelas offers the Aurora system, a standardized, modular, and mass-manufactured Liquid Air Energy Storage (LAES) solution.
- Aurora enables efficient, scalable, and affordable energy storage, facilitating the integration of renewable energy into the grid.
- With its unique cryogenic technology, Aurora provides flexible and transportable energy storage capabilities, empowering the transition to a sustainable and reliable energy future.
- Catalyst complements this offering with tailored and robust energy storage planning, optimization, and risk assessment using multi-scenario optimization and the Monte Carlo method.
Entry point & needs
- They had the idea and vision to transform the energy storage sector by developing cutting-edge Liquid Air Energy Storage (LAES) systems designed for renewable energy.
- They believed that efficient, scalable, and affordable electrical storage was crucial for accelerating the global transition to renewable sources.
- To bring the vision to life, they needed support in refining the concept, validating its viability, and securing the necessary resources and partnerships to develop and deploy Aurora and Catalyst successfully.
- Additionally, guidance in navigating the regulatory landscape and building a skilled team was crucial for their growth and impact.
How the Venture Lab helped
- The Venture Lab played a crucial role in supporting throughout the entire journey.
- The Venture Lab provided valuable connections to investors and corporates, expanding the startups network and opening doors to potential partnerships. The infrastructure support was instrumental in the development process according to phelas.
- The Venture Lab arranged a dedicated space for phelas in the laboratory, allowing them to build and refine the prototype.
- Additionally, connections with other startups and academia, fostering collaboration and knowledge-sharing opportunities were facilitated.
- The expertise and guidance have been important in navigating the startup landscape and overcoming various challenges. The Venture Lab's support has played a big role in the growth and success, propelling phelas forward.
Advice for founders
- Clarify your vision: Clearly define your goals, values, and long-term vision to guide your startup's growth.
- Build a strong team: Surround yourself with talented individuals who share your passion and complement your skills.
- Validate your idea: Conduct market research and seek feedback to ensure there is a need and demand for your product or service.
- Develop a solid business plan: Create a well-structured and realistic plan that outlines your value proposition, target market, and revenue model.
- Embrace continuous learning: Stay curious, adapt to changes, and constantly seek new knowledge to stay ahead in a rapidly evolving business landscape.
- Network: Build a strong professional network, attend industry events, and connect with potential partners, investors, and mentors.
- Seek mentorship: Find experienced mentors who can provide guidance, advice, and support based on their industry expertise.
- Secure funding strategically: Identify funding sources that align with your business goals and develop a compelling pitch to attract investors.
- Resilience and perseverance: Expect challenges and setbacks along the way, but maintain resilience and perseverance to overcome obstacles and keep moving forward.