Some people just seem to have the “start-up gene” – and Lukas Renz is undoubtedly one of them. The double IMC Krems graduate has done it again: his start-up, Hydrosolid, is earning accolades for its impressive achievements.
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Young Entrepreneur of the Year 2024 with IMC Krems Background
Lukas, who graduated from the Tourism and Leisure Management bachelor programme at IMC Krems in 2018 and completed his master in International Business and Export Management (now: International Business Management) in 2020, has always been bursting with ideas and plans. Now, he has been named “Young Entrepreneur of the Year 2024” for HydroSolid, a hydrogen storage solution he developed with an interdisciplinary team.
“Nikolaus Franke, Academic Director of the Professional MBA in Entrepreneurship & Innovation at the WU Executive Academy and Head of the Institute for Entrepreneurship & Innovation at WU's start-up centre, analysed our company for unicorn potential,” Lukas explains, sharing the reason behind the award. Unicorns are start-ups valued at over one billion US dollars, known for rapid growth, groundbreaking innovations, and significant market potential. “The analysis highlighted points such as cutting-edge technology with clear customer benefits, a future-oriented market, potentially disruptive innovation, a clearly international strategy, and evident potential. The jury was impressed by the extensive expertise we demonstrated in product development, marketing, and sales,” Lukas says, delighted by the award justification.
CO2-Free Energy
Founded in 2021, HydroSolid is dedicated to efficiently storing green hydrogen. Hydrogen, a highly versatile energy carrier, can be produced from renewable sources such as wind, solar, or hydropower and generates zero CO2 emissions, making it a sustainable alternative to fossil fuels. Until now, hydrogen storage has been complex and expensive due to the high pressure required. HydroSolid’s Hive One is a compact, fully recyclable, and environmentally friendly storage solution that enhances efficiency and sustainability.
The start-up’s success is evident in its two pilot projects implemented in 2023 and 2024. “We’re particularly proud of these projects, as they were crucial milestones for our company,” says Lukas. In 2023, the Sonnschienhütte mountain hut, located 1,523 metres above sea level in the Hochschwab region of Styria, became the first Austrian alpine hut equipped with a hydrogen energy system. The project included a photovoltaic system installed across several buildings, a battery storage unit, and a high-performance hydrogen system with a fuel cell. Excess solar energy produced during the day is used to generate green hydrogen via electrolysis. When sunlight is insufficient for energy production, the stored hydrogen can be converted back into electricity through the fuel cell and fed into the power grid. This eliminates the need for diesel or rapeseed oil generators, achieving completely CO2-free energy production.
In 2024, HydroSolid launched the first fully integrated hydrogen storage system in Lower Austria at the Sportzentrum Niederösterreich. Central to the project is HydroSolid’s hydrogen system, which stores excess energy generated by a solar carport. The stored hydrogen ensures efficient and sustainable energy management, day and night.
Lukas and His Awards
While still a student at IMC Krems, Lukas co-founded Bärnstein, a company that introduced innovative caffeinated drinks made from regional ingredients like Cornelian cherry and quince. Alongside his business partner, Martin Paul, Lukas received numerous accolades for this venture, including Falstaff’s Top 3 Drinks in Austria, third place nationally and first place in Lower Austria at the I2B Business Plan Competition, and awards for the Top 100 Start-Ups and Best Business Idea 2015 in Austria.
Now, Lukas is continuing his winning streak in a new field. With HydroSolid, his team secured first place in the I2B Business Plan Competition 2021 for Austria, won the Believe in Yourself Challenge as Austria’s best start-up in 2022, and placed in the Top 10 Green Tech Start-Ups at the Verbund X Challenge 2022. In 2023, HydroSolid ranked among the Top 3 Start-Ups in the DACH region at the BBA Awards. The European Commission awarded the company a Seal of Excellence, and in 2024, HydroSolid was named Austria’s best start-up by Gewinn and Verbund.
As for Lukas himself, he earned a spot on the Forbes 30 Under 30 list. His advice for current and future students of the StartUp Management programme at IMC Krems: “Have the courage and perseverance to follow your own path. Be prepared for setbacks and view them as opportunities to improve.”