NEC Meets… RFC Power
RFC Power participated during the New Energy Challenge edition 2018. We ask them what they have learned from the experience.
In what ways has the New Energy Challenge (NEC) elevated your business?
By participating in the NEC, we were introduced to major investors. This was essential to us, to further develop our technology. Unfortunately, we did not win the challenge, but taking part in the NEC has given us a lot of exposure. On top of that, we have continued the engagement with Shell, so it is safe to say that the NEC has elevated our business.
What does the future hold for you, now and beyond?
We are now at a very exciting point in our business. We are still in the phase of developing our technology, but we have made much more progress than expected. This success is something we can give back to our investors and we consider to be a great success. Our technology consists of energy storage which started with milli watts. The goal is to grow our technology to megawatts and we hope that a collaboration with Shell will help us achieve this.
How did you experience the NEC?
We joined the NEC in 2020, and due to the global pandemic, both the preparations and the finals event were held completely virtual for the first time. This made it a bit more difficult to connect with other participants. However, the trainings were very helpful and the biggest lesson we learned was that while our technology was very promising, we needed to invest more in getting our story out there. Before, we had purely focused on our technology, which is why it was a true eye-opener to consider building our business in another way. We added someone to our board to help build our story and work on our branding. It was the perfect moment to refine our story because the NEC helped us increase our exposure.
What would your advice for this years or future participants be?
Enjoy the ride! Every NEC participant can really benefit from the lessons we learned on how to elevate our company. It is worth it!