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The new fund, managed by Future Energy Ventures, has a target of 250 million euros ($271 million).
Along with E.ON, the European Investment Fund (EIF) is also a major investor, with both companies owning mid-double-digit stakes, according to the release.
All of the fund’s capital will be allocated to investments across three core themes with clear decarbonization potential: future energy, future cities and future technology.
The average initial ticket size for early-stage investments in startups and scale-ups is between €1 million and €10 million, with 30 new investments to develop and implement digital solutions to drive the energy transition in Europe’s innovation hubs. This is the goal. , North America and the Middle East.
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“This is a milestone for E.ON in realizing a new world of energy. Access to climate technologies and resulting digital solutions will enable us to continue integrating new technologies and start-up solutions into E.ON’s business. is a central cornerstone of our innovation initiatives,” said Thomas Birr, Chief Strategy and Innovation Officer at E.ON.
“The newly established fund, open to external investors, builds on the success of our existing venture portfolio and is an important next step for E.ON to expand our impact through collaboration.”
With this fund, E.ON looks forward to further expanding its expertise in the field of innovation and welcoming new partners through its innovation ecosystem.
Future Energy Ventures has been active in the E.ON and innogy energy technology ecosystem since its founding in 2016 as an in-house investment advisor and has since transitioned to an independent venture capital firm, with this new fund. I think of it as the “next step.” “Our Journey”.
“The clean energy economy is the biggest business opportunity of our generation, and we are excited to raise our second capital at this pivotal time,” said Founder and Managing Partner Jan Lozek. I am.
“With FEV’s portfolio’s proven track record of success, extensive network of industry partners, highly collaborative approach, and deep sector focus, we are uniquely positioned to advance the digitalization and decarbonization of energy systems.”
Companies we have supported over the years include eSmart Systems, gridX, Bidgely, Enervee, and Piclo.
The fund is expected to have a final closing in the fourth quarter of 2024.
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