Erik Josefsson, CEO of R-evolution, a venture within Hexagon, discusses the company's efforts to accelerate the transition to a sustainable economy. Hexagon, a leading Swedish tech company in sensor and software solutions, launched R-evolution in 2021 to explore green-tech opportunities.
Josefsson previously worked on 5G solutions at Ericsson and saw potential in connecting Hexagon's sensors wirelessly. This led to discussions with Ola Rollén, then CEO of Hexagon, about creating a company focused on projects with significant environmental impact. "We created a company within Hexagon to take on projects where we could make a big environmental impact and drive profitability," Josefsson explained.
R-evolution operates as a business venture with the agility of a startup and the resources of a multinational. It focuses on identifying opportunities for environmental impact that also offer new business models. "It’s the speed of execution and entrepreneurship that drives us forward," said Josefsson.
The company has invested in solar parks in Spain and developed technology to optimize their operation. This initiative attracted collaboration from Google for energy forecasting and anomaly detection. R-evolution is also working on wind energy, green hydrogen, and sustainable desalination projects.
A notable project involves mapping underwater seagrass meadows in the Bahamas using advanced sensor technology. The findings are aiding the Bahamian Government in issuing blue carbon credits. Josefsson noted, "Based on our research, the Bahamian Government is preparing to issue blue carbon credits."
On land, R-evolution partnered with the University of Vienna to measure tropical rainforest biodiversity in Costa Rica using precision sensors and AI-enabled software. This led to the creation of Green Cubes, which allows corporations to sponsor rainforest conservation efforts.
The mining industry has shown interest in Green Cubes for monitoring land reclamation efforts. "Just a few weeks ago, we launched Green Cubes Digital Reality," Josefsson mentioned.
Profitability remains key for R-evolution's projects. Josefsson stated, "We don’t touch anything where we don’t see profitability." He emphasized that saving the planet presents significant business opportunities.
R-evolution focuses on several green tech areas including desalination, forest measurement, ocean protection, solar energy digitalization, wind energy efficiency, and green hydrogen development.