Munich Startups: What does your startup do? What problem do you solve?
Energyminer: Energyminer develops and operates innovative kinetic hydropower plantsWe solve the ecological problems of traditional hydropower. Our hydroelectric power plants preserve rivers in their natural state, or rather, our systems enable their renaturation, while simultaneously generating hydroelectric power. Fish are 100 percent protected and can pass through the systems unhindered. The systems float in the river. In simple terms, you can imagine them as small wind turbines with a protective frame in the water. Installation is carried out entirely without concrete or dam walls.
“A completely new plant concept”
Munich Startups: But that's been around for a long time!
Energyminer: Basically, yes. However, our competitors who tried this field before us all failed. The main reason was that their plants didn't generate electricity economically. And that's exactly where we started, focusing on cost reduction from the very beginning. We have a completely new plant concept with new, patent-pending technologies. This allows us to dramatically reduce costs while simultaneously increasing energy yield. So we get more electricity at a much lower cost. And so the equation suddenly works out, and we have highly profitable plants.
Munich Startups: What is your founding story?
Energyminer: We have been working together since our doctoral studies at the Chair of Automotive Engineering at the Technical University of Munich. Even back then, we were fascinated by hydroelectric power plants. However, our work at the chair resulted in a new battery contact technology and BMS technology, with which we initially founded the company Invenox GmbH We have successfully built up our business. In the past two years, we have completed our exits and now founded Energyminer GmbH so that we can now focus on hydropower. We are a strong team that has solved many problems together. I can still remember countless night shifts to solve problems. Somehow, we always managed.
Munich Startups: What have been your biggest challenges so far?
Energyminer: We are currently looking for investors. We are seeking €2 million to finance the development of the plant to series production and SOP. Market entry is planned for 2024 with a further investment round. Approved sites for power plants in rivers would be helpful for this. We have already applied for the first sites and are now awaiting approval from the authorities.
Energyminer’s pilot plant is expected to be operational in one year
Munich Startups: Where would you like to be in one year, where in five years?
Energyminer: In a year, several pilot plants will already be in operation, and our innovative IoT maintenance system will be tested. In five years, we will produce as much electricity as a coal-fired power plant does today. Energyminer will already be operating profitably by then.
Munich Startups: How have you experienced Munich as a startup location so far?
Energyminer: We feel absolutely at home in Munich, a startup hub. We have excellent connections within the startup scene here. Munich, in particular, offers a great deal for startups. With the UnternehmerTUM, Gate Garching, Munich Startup, and Baystartup, to name just a few, Munich offers a fantastic startup ecosystem. I couldn't think of a better place for us.
Munich Startups: Quick exit or long breath?
Energyminer: The middle ground. We're clearly working toward an exit. We want to build a highly profitable electricity producer. There will certainly be some interested parties for that.
