The energy sector’s innovative companies are chasing development and growth

17. May 2022

Beyond Beta Energy – the incubator of energy

Since February 2022, a number of companies have participated in the Beyond Beta program, moving startups toward increased growth. Magfu, Waves2Power and HB-Tech are three of the participating companies in Denmark’s new large incubator for energy companies launched by Energy Cluster Denmark.

Magfu, Waves2Power and HB-Tech.

These are the names of three of the companies that since February 2022 have participated in Beyond Beta Energy – a course for innovative companies that want sparring, development and networking in the energy sector.

“Eight exciting companies have been selected in the first round of Beyond Beta – companies that come up with ideas that can meet some of the challenges in the energy sector. Companies are talking into energy production, energy storage, energy efficiency and energy infrastructure, including companies that can go across sectors,” says Søren Røn, CEO of Next Step Challenge, which works with the energy incubator on behalf of Energy Cluster Denmark under the Beyond Beta program.

During Beyond Beta Energy, the companies will be assigned a temporary advisory board with experienced profiles from the energy sector, and together the participants will have the opportunity to validate their idea and prepare a strategic roadmap for their growth in the coming years.

This is what the participating companies say

If you ask the participating companies about what they get out of the process, it is special network for the industry and business understanding that are mentioned as the big pluses of Beyond Beta.

“The team behind Beyond Beta is poking at us and challenging us. Who is the first customer, for example? These are questions we have to deal with. We have a vision of world domination, but we also need to get started, so it is really positive to see the effort,” says Thomas Borch Nielsen, CEO, Magfu, who is developing a self-sailing offshore wind turbine that can produce hydrogen and green ammonia.

According to Waves2Power – another company in Beyond Beta Energy – the strategic look at the business is an important part of the process.

“We’re just going to turn the approach; it’s kind of a different way of doing things than we usually do. We just do things. At Beyond Beta, we make plans and work with strategy,” says Christian Neerus Grant, CEO of Waves2Power, which is developing a new type of wave converter.

The automation and robotics company HB-Tech is a third company to participate:

“We have our first meeting with our new advisory board here in early May, and we expect a lot from that. We hope to have a network and a development of the company at a pace that is high,” says Brian Chabert-Hansen, CEO of HB-Tech.

New ideas

The participating companies in Beyond Beta Energy will have access to a number of benefits, including through Denmark’s cluster organization for the energy sector, Energy Cluster Denmark, which is a partner in Beyond Beta Energy.

“Entrepreneurs and new ideas are key to solving our climate challenges – and innovation will define the energy system of the future. Therefore, we have chosen to establish a new energy incubator together with a number of partners. Through the process, the companies get workshops, an individually composed advisory board, ongoing sparring, access to data from Center Denmark to test their business and access to a digital platform,” says Glenda Napier, CEO of Energy Cluster Denmark.

More about Beyond Beta

Beyond Beta is Denmark’s largest startup program from idea to investment. The programme combines the strengths of the 14 business clusters with sparring from the country’s 6 business houses and the leading accelerator, Accelerace. Beyond Beta runs a wide range of incubation and accelerator courses aimed at entrepreneurs with a clear growth potential and a maximum 5-year-old CVR number. A total of approximately DKK 145 million has been allocated to the Beyond Beta programme, which is funded by the EU Social Fund and the Danish Business Promotion Board.