Start-up battery technology startup TWAICE won first place at this year’s Presidential Entrepreneurship Award organized by TUM and UnternehmerTUM, the Center for Innovation and Business Creation.
By meeting key criteria, which were business ideas based on the outcome of deep research, strong growth potential, and initial success in obtaining financing, the team won an award of €10,000, donated by the Bund der Freunde.
The performance of batteries is a decisive factor which will determine whether renewable energy and electric vehicles can be widely used in the future.
Electric Vehicles (EVs) have been on the market for some time now, but the mass public uptake of the technology has not happened because of concerns about charging between journeys.
TWAICE has developed software for the optimization and analysis of lithium-ion batteries with various features. Its platform allows companies to be able to improve product development, plan strategies for efficient application of EVs, and track the condition of batteries when in use.
The basics of the technology were developed at TUM, by Dr. Michael Baumann and Dr. Stephan Rohr, in a doctoral thesis.
Established in 2018, TWAICE was supported by TUM and UnternehmerTUM via the XPRENEURS incubator program, along with other resources. The team is backed by the venture capital fund of UnternehmerTUM, UVC, and currently has 70 employees.
Because most vehicles run on fossil fuels, carbon emissions are unavoidable. Electric vehicles have the potential to be better for the environment, and may be cheaper to provide energy for than a traditional gas-guzzling vehicle – depending on how power is generated.
Many pieces of research have proven that air pollutants from gasoline and diesel-powered vehicles cause asthma, bronchitis, cancer, and premature death. Of course, the same is true of coal power – which is why a holistic energy solution is needed.
As electric vehicles rise in popularity, building more charging stations is necessary to help electric drivers power up and get where they need to go. If a clean energy economy is going to develop, developing next-generation battery technologies will be a part of the process.