TotalEnergies Acquires Three Start-Upgrades to Boost Its Electricity Business

By Andrea Figueras

TotalEnergies said that it has acquired three start-ups for an undisclosed amount to accelerate its development in the electricity business.

All three companies, Dsflow, NASH Renewables and Predictive Layer, participated in TotalEnergies On, an accelerator program that supports start-ups developing innovative solutions in the electricity and renewable energy sectors, the French oil-and-gas major said on Tuesday.

TotalEnergies will integrate a Software-as-a-Service solution from Dsflow, a software platform developed by NASH Renewables and Predictive Layer's machine learning and artificial intelligence solutions, it said.

"The success of the collaborations and tests carried out during their participation in the program has led TotalEnergies to negotiate their acquisition and integration into its business units which with they collaborated," the company said.

The company is also taking a 56% stake in the start-up Time2plug, which will enable it to boost the deployment of charging points for electric vehicles in France.

TotalEnergies has also signed commercial contracts with ten other start-ups who took part in the acceleration program, it said.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

December 12, 2023 02:58 ET (07:58 GMT)

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