Japan Energy Fund invests in Swiss-headquartered venture Akselos, a digital twin technology company for offshore wind
London, 9 May 2022 ― Japan Energy Fund is pleased to announce that it has invested in Akselos SA. Headquartered in Switzerland and the US, Akselos is the creator of the world’s most advanced engineering simulation and structural digital twin technology, designed to improve operational efficiency and safety of global energy infrastructure including wind turbines.
Akselos has raised USD 16.5M* (approximately JPY 2 billion) as part of this funding round, which includes investment from AT Capital, which is one of Asia’s leading private investment firms, Future Energy Ventures, and Shell Ventures.
*USD 1 = JPY 120
About digital twin technology
A digital twin is a computational model that evolves over time to accurately represent the structure, behaviour, and context of a unique physical asset. It can be coupled with data feeds from sensors and IoT devices. The use of digital twins is expected to drive significant design optimisation, reduce operating costs through more informed maintenance and inspection, and extend the life of infrastructure across the energy industry.
In Europe, the world leader in wind power, the use of offshore wind turbines is rapidly increasing. In Japan, in order to achieve decarbonisation by 2050, a dramatic expansion of renewables and a shift to sustainable energy must take place by 2030. There are high hopes for offshore wind as one of these sustainable sources, and it is expected to provide 18%* of the total energy mix by 2050.
We believe that the offshore digital twin technology that Akselos has developed has the potential to support the significant deployment and operations of offshore wind generation, while also improving the design of wind turbines to drive down the levellised cost of energy.
*Source: Japan Renewable Energy Foundation: “Wind power – How energy targets should be set for 2030”（published 15 March 2021）
Akselos is the creator of the world’s most advanced engineering simulation technology. Founded in 2012 and with operations in Europe, the USA, and South East Asia, the company’s products are designed specifically to help protect critical energy infrastructure with real-time, condition-based monitoring for large critical assets. Using patented algorithms developed over 15 years of research at MIT and funded by the U.S. Department of Defense, Akselos’ structural digital twin solution is helping the energy sector optimize design, lower operating costs, and extend the life of ageing assets.
Akselos was named a Technology Pioneer in 2020 by the World Economic Forum.
About Japan Energy Fund
Backed by prominent Japanese companies, the Fund aims to build a sustainable society through investment in innovative international companies with technologies related to decarbonisation. There are two main axes in the Fund’s initiative: JEF Renewables and JEF Ventures. The former invests in renewable energy businesses in emerging countries, and the latter invests in energy-based start-ups with advanced technologies in European and North American countries with advanced energy markets. Through these investments, the Fund aims to build a sustainable society focusing on five SDG goals.