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Latest News / Shell rewards tyre monitoring solution with capital injection

 

Israeli start-up Neomatix, which has developed a disruptive tyre monitoring solution, is the winner of the first Bright Energy Ideas Challenge with their innovative concept for making transport more sustainable.

As winners of the Challenge, Neomatix receives €25k (US $28k) in cash and a convertible loan of €100k (US $112k) from Shell Technology Ventures, plus exclusive coaching from Shell.

A total of 219 international start-ups took part in the inaugural Bright Energy Ideas Challenge (BEIC). The aim of the competition is to accelerate promising innovations in smart mobility. Five finalists, including two from the Netherlands, battled it out for the top prize with their innovations. Neomatix won the BEIC with their concept for a smart sensor that monitors the status of tyres. Among other things, the sensor can help reduce CO2 emissions by providing an early warning when the tyre pressure is too low.

Commenting on the impact of the award, Kfir Wittmann, one of the co-founders of Neomatix, said, “I am very pleased with this recognition for our innovative idea. The financial boost and coaching are valuable for the further development of the company and mean that our concept can already have an impact in the short term.

“This award gives our contribution to making mobility more sustainable a flying start.”

Speaking at the awards, Geert van de Wouw, Managing Director of Shell Technology Ventures, said, “Mobility – transporting people and products – is an essential part of our daily lives and is about to undergo major changes. For example, it is expected that the number of cars on the road will have almost doubled by 2050. That challenge calls for clever ideas, which requires partnerships with young entrepreneurs like these finalists. We are therefore very pleased with the large number of entries and the innovative start-ups among them. As such it was hard to choose a winner.”

Neomatix specialises in Electro-Optics, Computer Vision and Machine Learning technologies. In addition to reducing CO2 emissions, its disruptive tyre monitoring solution enables vehicle fleets to prevent roadside breakdowns, reduce the cost of ownership, improve driver safety, and improve the management of tyre assets. The system uses tyre extracted big data to provide users with actionable business intelligence for both preventive and predictive maintenance, all through a fully automated process, without requiring any on-vehicle installation and without disturbing the fleet’s work routine.

The four other BEIC finalists were:

AddVolt, from Portugal, has developed a system that can make clever use of the brake energy and solar power on board lorries to power their on-board refrigeration equipment.

From Germany, Konetik is pushing forward with a mobile application that allows companies to deploy their vehicle fleet better and more efficiently.

Two Dutch finalists are both focusing on parcel delivery logistics: Trunkrs provides a platform that gives motorists on the way to their destination the option to pick up a parcel to deliver close to where they are going. This way, the often empty space in cars can be used better, and the motorist receives a payment. Similarly, PickThisUp has developed an innovative platform to bring together the sharing economy and delivery logistics. The service looks for a suitable transporter for the route a parcel has to take.

The five finalists were selected from a total of 219 entries from 36 countries, on the basis of their innovative concepts and prototypes. Over one in five entries came from the Netherlands (21%), followed by the UK (10%) and France (8%). Most applications were from the Energy & Cleantech sector (21%), followed by the Automotive industry and the Internet of Things, which contributed 20% and 13% respectively.

The BEIC took place during the Generation Discover Festival in The Hague on the 4th of October. Through the festival, Shell seeks to enthuse young people about technology and science, so that they will be able to contribute to innovative solutions of the future.

Shell launched the Bright Energy Ideas Challenge to provide opportunities for early stage start-ups to gain financial support and exclusive coaching from Shell. The challenge has a specific theme matching Shell’s strengths, creating the perfect juncture for collaboration. This challenge focuses on smart mobility which will become increasingly important for future generations as the world’s population increases, demanding cleaner and more efficient transport. Shell is innovating in this space from fuel technologies, to a new concept car and wishes to accelerate the development of smart mobility solutions via open innovation. This challenge provides Shell with the opportunity to engage with the start-up ecosystem and keep updated with new technologies that could be one of the solutions to our future energy demands.

Underlining the substantial interest in the Challenge, the promotional BEIC video has been viewed over 930,000 times on YouTube.


 

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