INNOVATION SPOTLIGHT: ATO ENERGY
Energising a Traditional Industry with New Innovation
Let’s meet the founders of the future
In Innovation Spotlight, we will shine a light on the inventors and entrepreneurs who are changing the world one invention at a time. In this instalment, we meet ATO Energy’s founders Peder Falkman and Elena Rakhimova, and get to learn more about the company’s inventive method to transform the energy grid market by increasing grid capacity.
ATO Energy’s journey began in April 2024, when co-founders Peder Falkman and Elena Rakhimova realised that to continue their work of solving problems in the energy sector, they had to start their own company. Since then, they have worked hard with their team to develop a new software platform based on dynamic rating.
Elena Rakhimova & Peder Falkman, founders of ATO Energy
“Dynamic rating means that we monitor and measure temperature of power components – powerlines, transformers, and underground cables – and then combine that with weather data and other parameters. When we feed the data into the software platform, we gain insight into the grid status and the different components”, Peder says.
ATO Energy’s innovation allows for better analysis and prediction of the grid capacity, making it possible for companies to better utilise the existing power grid capacity without needing to manufacture or install new sensors and infrastructure.
“We are unique, because we have a sensorless solution that solves bottlenecks. For big companies, our solution is faster and more flexible, because it can both shift and add capacity”, Elena explains when describing their competitive edge on the market.
However, entering the electric power industry and partnering with electrical grid companies has not been without challenges. Because the electricity grid is classified as critical infrastructure, the industry is heavily regulated and change happens slowly. As they were just getting started, they had to be creative and re-examine established practices to figure out how to make an impact in the market.
“We had to question everything in the beginning”, Peder comments when describing the early days.
The traditional energy sector is slowly starting to embrace change, and lean into collaboration and new methods of working. Here, being a startup gives ATO Energy a competitive edge, as they can move faster and seize the opportunities that come their way. A prime example of how they have embraced change is their pivot from initially having a product that only focused on transformers, to offering a product that provides a full solution and a better market fit.
“It is a whole new concept from when we started out”, Peder adds.
When first learning about the market, they opted for a very hands-on approach and travelled to conferences and congresses to meet with potential customers.
“They gave us feedback, and we realised we had to change the concept”, CTO Elena Rakhimova says.
This direct feedback made it possible for them to improve their pitch deck, bring on expert advice, and learn how to better communicate their product to potential customers. As the journey continues, they are faced with new problems, and are always growing and adapting to the market’s evolving needs.
“The energy field is very intense today. There are a lot of problems to solve, and a lot of possibilities to create social impact”, Elena says when reflecting on what motivates her.
The notion that there would be a global need for this solution was always in the back of their minds, but in the early days, they kept their goals grounded. Now, they are establishing themselves in the Swedish market, with plans to scale to the Nordics and Europe. As they are prioritising sustainable growth, they have already begun to notice interest both from Asia and Africa, as the entire world faces the huge task of solving electrification.
“The difference now is that it is something tangible. It is not a dream anymore, it is something that is actually happening”, says Peder when reflecting on how the aspirations have changed over time.
“We realised that we could add the patent to our balance sheet, which is a big asset for a startup that is pre-revenue and has a lot of development costs”
PEDER FALKMAN
When they first wanted to patent their technology, they were initially told by consultants that they would not be able to patent their software. Once they met Ola Wassvik from Lightbringer at a conference in Espoo, they understood that it was possible for them to protect aspects of their technology, and that patents could be leveraged to their advantage.
“We realised that we could add the patent to our balance sheet, which is a big asset for a startup that is pre-revenue and has a lot of development costs”, Peder explains.
When describing their experience using Lightbringer, Peder found it to be so easy and quick, he recalls the sensation of anticipating a huge workload that never came. The easy process also saved them a lot of time at a pivotal point in their growth journey. Now, they have noticed how patents are a recurring topic in fundraising conversations.
“Having filed a patent puts a lot of investors at ease. They know there are no guarantees, but you have done the process and filed for a patent. It says a lot about how you work, and it sets the standard for how you work with your business”, comments Peder.
“It shows investors that we care about the product”, Elena adds.
As a startup, there is a constant fear of unknown costs, and being able to budget for their patent application alleviated them from a lot of financial worry.
“When you meet other founders and companies, you quickly realise that the traditional patent process does not seem fun. We can hear them complaining quite a lot”, Peder reflects, adding that he has been recommending Lightbringer to people he meets at congresses and fairs.
“We want to expand our portfolio. When you know that you can protect your technology, it gives some food for your thoughts”
ELENA RAKHIMOVA
Working with Lightbringer, they have also learnt more about the patenting process as a whole and are always in an innovation mindset where they are thinking about new, possible patents.
“It starts a very creative process. The patent industry is very traditional, and I think a lot of people have been scared by it”, says Peder.
“We want to expand our portfolio. When you know that you can protect your technology, it gives some food for your thoughts”, Elena adds.
The future is looking bright for ATO Energy, as they have now reached a traction of success where too many great opportunities are coming their way, and they have to be selective with what they wish to pursue. Their success is undoubtedly the result of hard work, innovation, and being an outstanding player in a traditional industry. We are excited to follow ATO Energy’s journey, and to see how their brilliance will solve new problems and make a positive impact across the whole world.
