E.ON – the European Investment Fund (EIF) and Future Energy Ventures (FEV) jointly foster smart innovations for the energy transition through a newly established fund. This fund (managed by FEV) already has a volume of €110 million and a target size of €250 million. E.ON and the EIF hold a mid-double-digit million euro stake as anchor investors. These funds invest primarily in start-ups and scale-ups that develop and implement digital solutions to drive the energy transition.
The capital of the fund is allocated towards sustainable investments across three core investment themes with clear decarbonization potential: future energy, future cities, and future technologies. And with an average initial ticket size of between €1 million to €10 million for early-stage investments, it aims to target 30 new investments located in the innovation hubs of Europe, North America and the Middle East. The future investors benefit from the partners‘ expertise in the energy sector.
With the newly established fund, E.ON can further expand its many years of expertise in the field of innovation and, through a stable innovation ecosystem, bring new partners on board, who jointly have the confidence to invest in the energy transition. And FEV already runs one of the biggest global funds investing in Climate-Tech investing primarily in start and scale-ups that develop and implement digital solutions to drive the energy transition.
The fund is expected to hold its final closing in the Q4 of 2024.
KEY QUOTES:
“The clean energy economy is the greatest business opportunity of our generation, and we are excited to be raising our second fund at this pivotal moment. With FEV’s track record of portfolio successes, an extensive network of industry partners, our highly collaborative approach and deep sector focus, we are in a unique position to drive the digitization and decarbonization of the energy system. We are grateful to our investors and look forward to continuing discussions with potential institutional and strategic investors that share our vision.”
- Jan Lozek, Founder and Managing Partner of FEV
“Better managing our energy needs is one of the most important challenges of our time. That’s why we are excited about our participation in the newly established fund. This investment aligns perfectly with the EIF’s strategic objectives and our commitment to driving the energy transition and supporting decarbonization efforts across Europe.“
– Marjut Falkstedt, EIF Chief Executive
“This is a milestone for E.ON on our way to making the new world of energy work. Having access to Climate-Tech and the resulting digital solutions is a central cornerstone of our innovation initiatives through which we continuously integrate new technologies and startup solutions into the E.ON business. The newly established fund which is open for external investors builds on our success of the existing venture portfolio and is the next important step for E.ON to broaden impact through collaboration.”
– Thomas Birr, Chief Strategy and Innovation Officer at E.ON
