One of the Netherlands' largest energy businesses is calling on innovative start-ups and growing businesses to create tomorrow's energy systems with a landmark competition.

Jointly created by Shell and Esso in the late 1940s, Dutch energy giant NAM has this week launched a new challenge for ground-breaking technology businesses to tackle the problem of energy storage.

In addition to a cash prize of €50,000, the winner will also be handed a commercial contract to implement their solution within the firm's systems.

The contest marks 70 years since NAM's creation and represents a unique opportunity for challengers to gain access to the firm's expertise and infrastructure.

Storage plays a critical role in making alternative and sustainable energy solutions more practical. Supply of sustainable energy exceeds demand during the summer, whereas demand is higher in the winter, meaning the ability to move to renewable sources is held back by the lack of efficient storage.

In NAM's home market of the Netherlands, just seven per cent of energy currently comes from sustainable sources.

 "We can only speed up this energy transition together. Many of our own sustainable innovations will then also be realised in conjunction with our environment," said NAM Director Gerald Schotman.

"We hope that the NAM70 Challenge will enable us to work together on a solution for large-scale storage of sustainable energy using the best innovations from within the Netherlands and abroad," said NAM Director Gerald Schotman.

Growth companies and start-ups can enter the NAM70 Challenge via the website