Next Featured

musk’s-in-a-legal-duel-with-a-king-over-twitter’s-unpaid-london-rent

Musk’s in a legal duel with a king over Twitter’s unpaid London rent

Insider, Next Featured / /

Twitter has fallen out with yet another landlord: King Charles III.

The Crown Estate, which manages the British monarch’s vast property portfolio, has sued Twitter over unpaid rent for office space in London. The complaint was filed last week at the High Court in Britain’s capital.

The case joins a range of wranglings over rent engulfing Twitter. In December, the company had reportedly not paid rent on any of its global offices “for weeks.” Since then, landlords in San Francisco, Seattle, and London have all sued the bird app, while workers at a Twitter office in Singapore were briefly evicted over late payments.

The clashes come as Elon Musk takes drastic steps to cut costs at Twitter, which he bought in October for a ruinous $44 billion. His other moves include firing half the workforce, disconnecting servers that keep the platform running, a chaotic launch of a subscription service, and, err, selling kitchen appliances. 

The rent charges

The rent-dodging has been surmised as an attempt to negotiate better terms. In the London building, however, this doesn’t appear to be the plan. 

As the space has reportedly been deserted and emptied, it doesn’t seem that Twitter will re-occupy the office. Yet this doesn’t mean that Musk will get off scot-free.

“Twitter will remain liable to pay.

Andrew Conway, senior director and leading property litigator at London firm Lawrence Stephens, told TNW his obligations are tricky to escape.

“Unless the landlord forfeits the lease (that is, taking back the premises, so it can be re-let to other tenants) or agrees to accept a formal surrender of the lease, Twitter will remain liable to pay the rent for the remainder of the term of the lease,” Conway said via email.

If the lease is forfeited or surrendered, the tenant is only liable for payments up to the date that happens. That may well appeal to Musk, but it could be a headache for the Crown Estate. 

If the property can’t quickly be re-let, the landlord faces several problems.

“A landlord will be left with empty premises on which it will have to pay business rates after three months,” said Conway. “Moreover, empty premises are more susceptible to occupation by squatters.”

Court proceedings provide a route to recovering rent arrears — and Twitter will have little defense against paying them.

The debt collectors are coming

Musk’s mounting feuds with landlords coincide with growing financial pressures at Twitter.  

The first interest payment on the $13 billion of debt used for his takeover could be due by the end of January, according to the Financial Times. Analysts expect the looming bill to be around $300 million. 

Revenues at Twitter have also plummeted. Research suggests that ad spending on the platform —  the source of roughly 90% of its revenue in 2021 — dropped by 71% in December.

Skipping rent may postpone some costs, but it adds another dent to Musk’s floundering reputation. It’s also a blow to his dream of ending remote working.

At least surviving staff at Twitter’s New York base can still go to the office. Unfortunately, it reeks of poo and has a cockroach problem.

Musk’s in a legal duel with a king over Twitter’s unpaid London rent Read More »

great-job!-bulgaria’s-first-offshore-wind-turbine-will-be-used-to-produce-gas

Great job! Bulgaria’s first offshore wind turbine will be used to produce gas

Next Featured, Tech / /
Great job! Bulgaria’s first offshore wind turbine will be used to produce gas

Ioanna Lykiardopoulou

Story by

Ioanna Lykiardopoulou

Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives. Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives.

French startup Eolink — in collaboration with 15 European energy partners — will install a 5MW floating offshore wind turbine in Bulgaria by 2025. This is part of the EU-backed Black Sea Floating Offshore Wind (BLOW) project, which aims to advance sustainable energy solutions.

BLOW will use Eolink’s patented floating offshore wind turbine design, which the company claims solves existing industry issues by using four steel masts instead of one to spread the turbine’s stresses. This is said to make the overall structure more than 30% lighter. As per the startup, its turbines can produce 10% more energy by reducing aerodynamic interactions thanks to a greater distance between the blades and masts.

The unit will be designed to operate with maximum efficiency in the Black Sea, and this includes fitting it with a larger rotor so it can generate more energy in low-wind areas.

Eolink offshore floating wind turbine
Eolink’s wind turbine. Credit: Eolink

“The World Bank 2021 report indicates there is vast technical potential in South East Europe, with a staggering 166 GW of floating offshore energy in the Black Sea alone, which is the equivalent of five times the electricity consumption of Bulgaria and Romania,” Eolink’s CCO Alain Morry said in the press release. “Through this project we hope to catalyze offshore development across the region, which already has ongoing /fixed-bottom offshore wind projects in Romania”

But although every sustainable energy development sounds like a positive step for the EU, there is a catch: the wind turbine will be used to power an existing gas platform operated by Petroceltic, a Bulgarian oil and gas company. Unfortunately, this isn’t an uncommon practice. Think of Norway’s Hywind Tampen, the world’s largest floating offshore wind farm, which also powers the country’s gas and oil production.

On the one hand, powering fossil fuel production with renewable energy is the lesser evil compared to conventional drilling or burning practices. And developing a new industrial case for offshore wind that other traditional industries is a positive development. One could also argue that the lessons learnt in the process of manufacturing, installing, and operating the wind turbine can benefit larger wind farms in the future.

But on the other hand, it seems like a step backwards for the EU that’s funding a project on green energy in order to harvest the gas and oil that are endangering the planet. And while this might simply represent a transitional stage before we fully depend on renewable energy sources, the bloc should step up its game if it’s to meet its climate targets for carbon neutrality by 2050.

Also tagged with


Great job! Bulgaria’s first offshore wind turbine will be used to produce gas Read More »

europe’s-homegrown-battery-cells-could-end-its-reliance-on-china-by-2027

Europe’s homegrown battery cells could end its reliance on China by 2027

Next Featured, Tech / /
Europe’s homegrown battery cells could end its reliance on China by 2027

Ioanna Lykiardopoulou

Story by

Ioanna Lykiardopoulou

Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives. Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives.

By 2027, Europe has the potential to fully rely on domestic production of battery cells, meeting its EV and energy storage demands without any Chinese imports. That’s according to the latest forecast by Transport & Environment (T&E), a campaign group, which analyzed a range of manufacturer reports and press releases.

The European NGO further estimates that, in 2030, the companies with the largest battery cell production in the continent will be CATL, Northvolt, ACC, Freyr, and the Volkswagen Group.

About two-thirds of Europe’s needs for cathodes — an integral battery part — could also be produced in-house, the report finds. So far, 12 companies plan to become active in this part of the battery supply chain, with 17 plants announced in the region. Existing and scheduled projects include Umicore in Poland, Northvolt in Sweden, and BASF in Germany.

Northvolt battery cell
Northvolt’s first battery cell produced at the company’s Ett gigafactory in Sweden. Credit: Northvolt

Projections about the refining and processing of lithium are optimistic as well. While 100% of the refined lithium required for European batteries is imported from China and other countries, the bloc is expected to meet 50% of its demand by 2030. T&E has identified 24 projects so far, including Vulcan Energy Resources in Germany and Eramet in France.

The NGO warns, however, that these scenarios will not be realized unless backed by sufficient and timely funding, highlighting that the US’ Inflation Reduction Act (IRA) could attract European talent and factories to America.

“Europe needs the financial firepower to support its green industries in the global race with America and China,” Julia Poliscanova, senior director for vehicles and e-mobility at T&E, said. “A European Sovereignty Fund would support a truly European industrial strategy and not just countries with deep pockets. But spending rules need to be streamlined so that building a battery plant does not take the same amount of time as a coal plant.”

Also tagged with


Europe’s homegrown battery cells could end its reliance on China by 2027 Read More »

how-startups-can-protect-their-ip:-8-tips-from-a-patent-attorney

How startups can protect their IP: 8 tips from a patent attorney

Insider, Next Featured / /

For tech startups, the most valuable assets are often invisible.  While businesses were traditionally built on physical resources, the contemporary economy is increasingly driven by intangibles. The chip firm Arm, for instance, earned a $40 billion valuation and a reputation as the UK’s leading tech company — despite never manufacturing a single chip. Instead, the company designs the processor architecture that’s used in countless devices.

This intellectual property-based business model has transformed stock markets. In 1985, under a third of all assets in the S&P 500 were classed as intangible by 2020, that proportion had risen to around 90%. Startups, however, can overlook IP protection in their initial plans.

According to Robert Lind, a patent attorney at IP firm Marks & Clerk, they’re taking a major risk. Lind recently wrote an e-book on how to protect and monetize their intellectual property. He shared his top tips with TNW.

1. Start your research ASAP

According to Lind, tech firms often neglect IP until their business is exposed to creative and financial peril. He advises them to start their research before they really need it.

Naturally, Lind suggests their study material includes his e-book. But he doesn’t recommend relying on professional advisors at every turn.

“Arm yourself with the knowledge at the outset, so you know when to bring in the experts — and when you don’t need to bring them in,” says Lind. 

For tech startups, patents are the primary form of IP that can be protected. Founders should educate themselves on what a patent is, how to get them, how they’re enforced, and how third-party patents can be interpreted.

2. Keep it confidential

It should go without saying that your brilliant idea should be kept private, but that’s easier said than done. 

“​​Going public doesn’t just mean selling a product,” says Lind. “It could mean presenting a conference paper, publishing an article in a journal, or putting some information on your website. Be very careful about publishing your ideas before you’ve taken a view on whether something’s patentable.”

3. Diligently identify your innovations

Innovations are the lifeblood of patents, but they’re not always easy to identify. Many researchers and engineers don’t realize that their work could be valuable IP. 

“It’s very important that you have regular reviews internally and milestones in your project plans to consider what innovations have been made and whether or not they should be patented,” says Lind.

Lind has spend 24 years as a patent attorney at Marks & Clerk. He graduated from Glasgow University with a BEng in Electrical and Electronic Engineering, and followed this with a PhD in Bioelectronics
Lind has spend 24 years as a patent attorney at Marks & Clerk. He graduated from Glasgow University with a BEng in Electrical and Electronic Engineering, and followed this with a PhD in Bioelectronics.

Once you’ve identified an asset, you can get professional advice on whether or not it’s something you could patent.

4. Protect your rights

Experienced investors are savvy about the value of IP. Venture capitalists will use patents as evidence that a company is well-managed, at a certain development stage, and with a market niche. Their due diligence will likely differentiate between filing an application and receiving a granted patent.

Startups, however, often prioritize investing in R&D over protecting their IP. Lind recalls this issue emerging at a green tech company. The team had a very slim IP portfolio, which raised questions about its value to investors. 

“It’s the protection that really crystallizes the value in the R&D that you’re doing,” says Lind.

5. Devise a clear IP strategy

An IP strategy should begin with clear objectives. Broadly, this will involve maximizing value at a desired point of exit or investment, while remaining within the confines of financial prudency. 

Registered rights are territorial, so you’ll need to identify where to register your IP assets. This analysis can incorporate the territory’s size, potential, costs, and effectiveness. 

A cautious strategy can defer costs and commitments, but bear in mind that the registration process can be slow. To avoid delays, file early in the key territories, respond quickly to objections, and embrace opportunities to discuss issues with patent examiners. Careful cost forecasting and budgeting will help cover any pitfalls that emerge.

“You should pursue your strategy quite aggressively,” says Lind. “But unless you know where you want to get to at the start, you’re probably not going to get anywhere useful.”

6. Map your IP to your business — and the future

You need to make sure your IP maps to the tech you can sell. According to Lind, it’s surprisingly easy to get patents granted that don’t align with your most valuable assets.

“Make sure your patents actually cover what the efficient and clever parts are — that’s very important,” he says.

The e-book is available as a free download from the Marks & Clerk website
The e-book is available as a free download from the Marks & Clerk website.

Your IP should also be future-proofed, as the end product can be very different to the original vision. One of Lind’s previous clients, DNANudge, raised $60 million after building a portfolio of patent rights with diverse potential. While the company already sells a consumer product, its IP could also be integrated into various other devices or apps.

“Make sure your IP is broad enough in scope to cover not just what you’re doing now but also what you’re doing in the future,” suggests Lind.

7. Keep building your portfolio

Lind advises startups to look beyond those first few patents for their big idea. After all, each patent only lasts for 20 years.

“A slow-burn startup might take 10 years to get its product to market, which only leaves them with 10 years left on the patent,” says Lind. “They’ve got to keep innovating and keep patenting so they can keep that pipeline going.”

8. Resolve your ownership issues

The cooperation of staff can be crucial to registering IP. Signatures from inventors, designers, directors, and owners may all be required on legal documents. If you can’t get a name on the dotted line, you could have major problems.

To escape this fate, Lind recommends obtaining the necessary agreements while everyone is happy and cooperating.

“Make sure you clear all that ownership up and keep proper records all the way through the process,” he says. “And do it while everybody’s still friends — and before you start making money.” 

How startups can protect their IP: 8 tips from a patent attorney Read More »

lightyear-halts-production-of-its-e250k-solar-ev-to-focus-on-its-cheaper-model

Lightyear halts production of its €250K solar EV to focus on its cheaper model

Next Featured, Tech / /
Lightyear halts production of its €250K solar EV to focus on its cheaper model

Ioanna Lykiardopoulou

Story by

Ioanna Lykiardopoulou

Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives. Ioanna is a writer at SHIFT. She likes the transition from old to modern, and she’s all about shifting perspectives.

Netherlands-based solar EV maker Lightyear has announced that it’s freezing production of its flagship model, the Lightyear 0 — less than three months after going into production. As part of a “strategic restructuring,” the company will now focus on making the Lightyear 2, priced at around €40,000. This is expected to go into production in late 2025.

The company’s journey has been a long and impressive one. From a student team at a solar vehicle competition, Lightyear transformed into a startup in 2016, and quickly mapped itself on the automotive map with the Lightyear 0. The solar EV featured some stirring in-house tech, promising to be a game changer in a niche market. It also came with a prohibitive price tag: €250,000.

lightyear 0
The Lightyear 0. Credit: Lightyear

Lightyear says that it hasn’t taken this decision to pivot lightly, as it impacts its “employees,” “investors,” “clients,” “suppliers,” and “the government.” The reason behind the move remains vague, with the announcement citing “challenges” over the past months, which made the action a necessary step to “safeguard” the startup’s vision.

It’s not unreasonable to assume that battery supply bottlenecks, semiconductor shortages, and rising costs of materials due to inflation might have impacted Lightyear. And beyond that, with recession concerns increasing, switching from a limited luxury product to a more affordable one seems like a timely strategic move.

With the Lightyear 2, the company is targeting an entirely different (and wider) market, compared to the first model that was mainly intended as a technology demonstrator to be produced in limited quantities.

Lighyear 2
Sneak peek of the Lightyear 2. Credit: Lightyear

The new five-seater hatchback, with a promised range of 800km and 50% lower emissions compared to conventional EVs, was announced at this year’s CES. While the company hasn’t disclosed many details yet, it said that the vehicle will “inherit all of [the 0’s] innovations at a fraction of the market price.”

According to the CEO and co-founder Lex Hoefsloot’s statement, the new model already counts 40,000 waitlist subscriptions from individual customers, and 20,000 pre-orders from fleet owners.

“We hope to conclude some key investments in the coming weeks in order to scale up to Lightyear 2, an affordable solar electric vehicle available for a wider audience,” he added.

Lightyear halts production of its €250K solar EV to focus on its cheaper model Read More »

meet-the-startups-representing-the-best-of-northern-dutch-tech

Meet the startups representing the best of Northern Dutch tech

Next Featured, Tech / /

The road to TNW Conference 2023 has started! With only five months to go until Europe’s leading tech festival, TNW is touring several up-and-coming tech hubs across the Netherlands to uncover the best of Dutch tech ahead of its the flagship conference in June.

First stop? Groningen. On Thursday, TNW’s event took place during the MXT 2023, in collaboration with Founded in Groningen and Founded in Friesland. This brought together startups, investors, corporates, and municipality representatives who shared how Dutch companies are enabling what’s next in tech in the Netherlands’ northern regions: Groningen, Friesland, and Drenthe.

Road to TNW Conference 2023

Among Dutch startup tech hubs, the North stands out due to its fast growth, with the three regions being home to more than 330 startups that generate over 5,000 jobs. Since 2018, Groningen has seen a 12% annual growth in the number of startups, followed by Friesland at 8%, and Drenthe at 4%.

“If you compare the current startup ecosystem in the North to ten years ago it’s completely different, especially in respect to collaboration. Startups, academia, and investors are now working closely together,” Niek Huizenga, Investor at G-Force Capital, said during the event. “Yet, we have to move forward faster and adopt a growth mentality to be even more competitive.”

“The North is ahead of the other regions in the fields that matter the most, such as energy solutions and agrifood — an advantage that we should be prouder of and communicate more,” Anne-Wil Lucas, Ecosystem Partner at NOM, added.

Road to TNW Conference 2023
Erwin Damberg, Private Lead at Founded in Friesland, before announcing the startups participating at the flagship conference in June.

The potential of the northern Netherlands to become one of the most attractive hubs in the country is also highlighted by the innovativeness of the five startups selected to represent the region in the TNW Conference 2023. These are:

Enatom (Groningen)

After almost ten years of collaboration with the University Medical Center Groningen (UMCG), Enatom has developed a next-gen anatomy app for the medical education sector.

Using pointcloud techniques and anatomical preparations provided by the UMCG, the app offers a realistic 3D visualization of the human body that can be used in computers, tablets, and VR/AR glasses. Within the app, anatomical preparations can be studied all the way around, while it’s also possible to annotate and create notes on the 3D models.

This way, the Enatom app can be used by both teachers and students, facilitating flexible access to accurate knowledge in low-resource settings and releasing the pressure on the educational healthcare system.

As for Nuwa’s participation in the TNW conference, Tuinier believes that it’ll not only provide the company with a strong network, but also further attract interest and investment in the northern Netherlands.

HIHAHO (Assen)

The company has developed an interactive video platform that’s all about engagement. Instead of offering a set, linear tool, the platform allows the user to be in charge.

According to HIHAHO’s CEO and owner Mark Visser, the platform’s competitive advantage is the way its technology is built, making them the “only ‘intel inside’-like solution in online interactive video worldwide.”

“Our interactive layer technology is synchronized with all major online video players and video platforms. On the layers and therefore in the videos, you can create more than 20 different types of interactions, among which the possibility to integrate existing web applications like webshops for merchandise, e-learning tests, etc,” he added.

Here’s how the video platform works:

HIHAHO now has a world-wide customer base of early adopters, and aims to become a leader in verticals such as entertainment, learning, marketing, and public information.

The team expects the conference to help attract further interest from potential partners and investors, Visser told TNW.

SusPhos (Leeuwarden)

SusPhos is using chemistry to create a better world. Specifically, the startup upcycles phosphate-rich waste streams to generate high-quality alternatives that can replace current fossil-sourced products — all in a waste-free process.

The company’s patented technology is compatible with various waste streams including agriculture, communal, and the food and beverage industry. Its first products will be flame retardants and specialty fertilizers.

In addition to phosphate products, SusPhos produces recycled coagulants along with other chemicals, while it’s currently preparing its first full-size plant.

Aeroscan (Leeuwarden)

This startup aims to disrupt the real estate inspection and maintenance industry. Using data collected from drones, Aeroscan produces 3D renderings of buildings. Customers can make use of a dedicated web-based application to gain access to these insights.

According to Mark Nikolai, founder and Technical Director of the company, the technology has three main points of impact: it reduces the time needed for experts to generate maintenance reports, it decreases the logistical footprint by allowing digital sharing of 3D visualizations, and, as a result, it lowers the overall cost of real estate ownership.

Aeroscan’s competitive advantage lies in “the combination of in-house competencies,” Nikolai told TNW. “We control the data quality (input), develop our own custom machine learning models for data analysis and deliver an end-user centric web application.”