Energy giant E.ON has today announced the launch of Future Energy Ventures, a venture capital platform that will fund digital technologies and business models that are transforming energy.
Launched with a €250m fund, Future Energy Ventures will invest in startups raising Series A funding or beyond that have demonstrated commercial viability.
Operating from Germany, Israel and Silicon Valley, it will look to invest in energy focused companies located around the world that provide either investment or scaling opportunities.
“The entire energy ecosystem is being transformed by technology at an ever-accelerating pace creating significant investment opportunities,” said Jan Lozek, managing partner at Future Energy Ventures.
“Not only is the traditional energy supply chain moving towards smart generation and storage, but individuals, buildings and entire cities are becoming smarter and more connected, fundamentally redefining the role of energy in society.
“We are committed to accelerating the energy transformation by investing in and supporting the growth of the innovative businesses and business models that will help create and shape that future.”
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Future Energy Ventures gives E.ON venture capital arm to engage in digital transformation
For E.ON, Future Energy Ventures provides the company with a means of engaging in – and potentially integrating – innovative technologies in the energy space through venture capital investment.
Future Energy Ventures already has a portfolio of startups that have previously seen investment from E.ON or subsidiary Innogy. These include Holobuilder, Interstrust and Bidgely.
However, the venture capital platform will not simply be about funding – it will also provide considerable collaboration opportunities with both E.ON and other startups in the portfolio.
“Businesses need more than just money to succeed,” said Ines Bergmann-Nolting, managing partner at Future Energy Ventures.
“They need collaboration, mentoring and the opportunity to partner with other organisations that can help them achieve scale.
“We seek to actively create value by bringing together dynamic and innovative start-ups, E.ON and affiliated businesses, and a growing set of partners and to create meaningful impact for mutual financial and strategic benefit.”