Joint Venture by E.ON, EIF, and Future Energy Ventures
A new fund dedicated to fostering smart innovations in the energy sector has been established through a collaborative effort between E.ON, the European Investment Fund (EIF), and Future Energy Ventures (FEV), E.ON said Tuesday. The fund, managed by FEV, currently boasts a significant volume of €110 million, with an ambitious target size set at €250 million.
Substantial Investments from Anchor Investors
DAX30 company E.ON and the EIF have both contributed substantial mid double-digit million euro stakes, positioning themselves as key anchor investors in this initiative. Their involvement underscores the strategic importance of this fund in driving digital solutions for the energy transition.
Focused Investment Strategy
The fund is committed to channeling its capital entirely towards sustainable investments that align with three pivotal themes: future energy, future cities, and future technologies. These areas are selected for their clear potential to contribute to decarbonization efforts.
Targeting Start-ups and Scale-ups
Primarily, the fund targets start-ups and scale-ups that are at the forefront of developing and implementing digital solutions to facilitate the energy transition. With an initial investment range of €1-10 million for early-stage ventures, the fund aims to make around thirty new investments. These investments will be strategically located in the innovation hubs of Europe, North America, and the Middle East.
Expertise and Benefits for Future Investors
Future investors in the fund can expect to leverage the extensive expertise of the partners, particularly in the energy sector. This expertise is crucial in identifying and nurturing promising innovations that can significantly contribute to the energy transition.
In summary, the newly established €110 million fund, with a target of €250 million, marks a significant step forward in the digitalization of the energy transition. The collaborative efforts of E.ON, the EIF, and FEV, along with their substantial investments, set the stage for impactful and sustainable innovations in the energy sector.