STUDIO X ANNOUNCES ITS NEWEST ACCELERATOR COHORT TO SUPPORT THE NEXT GENERATION OF ENERGY AND CLIMATE TECH INNOVATION STARTUPS

Studio X selected seven startups from across the globe to join their Energy and Climate Tech Innovation Accelerator Program to support the work of these startups and expedite the impact of their energy innovations

AUSTIN, Texas, Oct. 19, 2023 /PRNewswire/ -- Studio X today announces Cohort 3 of its Energy and Climate Tech Accelerator Program: AI Technology Systems, Austere Environmental, Economical Energy, Flexergy, Onvol, Project Geminae, and SeisWave. These startups will engage in the 16-week program and gain access to cohort-exclusive programming and content, customized support and hands-on mentorship, actionable guidance, access to world-class industry experts, monetary support in the form of an investment, and more. Through the accelerator program, Studio X is seeking to propel the growth of these startups and the resulting impact of their innovations.

This is the third cohort for the Studio X accelerator program that began in 2020 as a part of the company's mission to accelerate the pace of innovation in climate tech for the energy industry. Studio X is creating a community of changemakers who want to foster new ideas, leverage and use powerful data, and collaborate. It brings together great scientific minds, investors, and entrepreneurs, all committed to accelerating the commercial success of innovative energy and climate solutions.

"Our accelerator program helps to close that gap through bringing together an engaged community that grows these companies at a faster rate, ultimately driving innovation, and helping to evolve global energy solutions," said Jeff Allyn, CEO of Studio X.

After a competitive application process, the seven startups selected for Cohort 3 stood out for their pioneering approaches, innovative energy solutions, and commitment to making a positive impact that can help coalitions around the world achieve their NetZero goals. This diverse class of startups, listed below, span various industries including energy, climate tech, green energy solutions, emissions management, digital transformation, step-change operational efficiency or mobility.

• AI Technology & Systems* - AI Technology & Systems is a NASA iTech company that provides compressed AI models and software tailored for edge AioT (artificial intelligence of things) tiny electronics. The technology unlocks opportunities in areas such as equipment monitoring, predictive maintenance, smart farming, and smart transportation, with smart solutions running without the internet while providing privacy and security.
• Austere Environmental* - Austere is an environmental remediation solution specialized in extracting chemical contaminants in soil, drill cuttings, and tailings. Austere Environmental's technology allows the cleaning of soil, cuttings, and tailings in a greener way for a lower price than current remediation methods.
• Economical Energy* - Economical Energy is a long-duration energy storage solution company. They have developed an innovative technology, VIPER, the vertically integrated potential energy reservoir which is a reinvention of gravity-based energy storage. Economical Energy's technology enables energy companies to cost-effectively store cheap renewable wind and solar energy when it's available, so that it can be sold at a later time for a higher price.
• Flexergy* - Flexergy are developing technology for a highly efficient hydrogen gas compression, storage and distribution system. Their product represents an innovation in hydrogen compression, reduces energy losses and reduces the final cost of hydrogen. By optimizing the hydrogen supply chain, they contribute to the widespread adoption of clean and sustainable energy solutions.
• Onvol* - Onvol is a technology company that is pioneering industrial IoT power solutions for applications in wind energy, transport, and mining. Onvol's first product is VolPower™, an energy harvester that powers sensors installed within wind turbine blades, providing them 24/7 power for the life of the equipment with a simple plug-in-and-forget solution.
• Project Geminae* - Project Geminae is an AI-powered portfolio optimization platform, enabling predictive modeling across industries. Their technology and unique business model synchronizes data across organizations, delivers probabilistic models, adaptive financial forecasting, and collaborative workflows.
• SeisWave* - SeisWave, a geophysical innovation, specializes in delivering cost-effective cloud-based services with a focus on developing competitive-edge technology and transparent workflows. Creating new ways to enable both the exploration expectation and the financial dynamics of this strategic workload, SeisWave's products are reshaping the terrain of the geophysical industry.

"I have been privileged to see groundbreaking work in energy innovation over the past two Studio X Accelerator Program cycles," said Max Gray, director of the Studio X accelerator program. "We can't wait to help our new cohort members evolve and deliver viable solutions to help our industry realize step-change results in their energy transition journeys."

Studio X will host a private showcase on November 10, 2023. Interested parties can RSVP here to attend and hear pitches from this year's cohort.

For more information about Studio X and the accelerator program please visit https://x.studio/.

About Studio X
Studio X is a first-of-its-kind open global innovation company working to accelerate the pace of innovation in energy and climate tech to help companies achieve their Net Zero 2050 targets, quicker. Powered by Shell, Studio X breaks category norms by creating a community workshare network to partner with startups, legacy brands, scientists, entrepreneurs, and creative minds to create new flows, innovate on existing ideas, and solve some of the world's largest energy challenges.

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* This statement contains forward-looking statements concerning results of operations and businesses of the relevant company/ startup. Those forward-looking statements are statements of future expectations that are based on the management of the company/ startups' current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. All statements originate from the relevant company/ startup and are based on market research conducted by each company/startup.

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