Glentra Capital has announced the completion of the final close of its inaugural fund, Glentra Fund I. This milestone has resulted in total commitments amounting to €565 million, alongside an additional allocation of €230 million designated for co-investments. The fund has gained support from a diverse group of institutional investors hailing from various regions, including the Nordics, the United Kingdom, the United States, and Canada.
. This strategy focuses on market-innovative and customer-centric infrastructure solutions aimed at facilitating the energy transition within the lower mid-market segment.
As of now, Glentra Fund I is already making considerable strides, having committed €350 million to various promising investments, supplemented by €165 million from co-investors. These funds are being directed towards four pioneering companies operating in Europe and the United States:
- DVP Solar – This company is at the forefront of developing agricultural photovoltaic (agri-PV) projects and Battery Energy Storage Systems (BESS) across Germany, Italy, and France. Their innovative approach integrates renewable energy solutions with agricultural practices.
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Third Pillar Solar – Specializing in floating solar photovoltaic (PV) installations, this firm is focused on utilizing man-made water bodies in the US for sustainable energy generation, thereby maximizing space and resource efficiency.
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Kyoto – This company offers cutting-edge electrothermal heat-as-a-service solutions tailored for European industries, helping them to improve energy efficiency and reduce carbon emissions significantly.
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energyRe – Focused on the U.S. market, energyRe develops and manages diversified power and transmission infrastructure, enhancing the reliability and sustainability of the energy grid.
Glentra Capital takes an active ownership approach, providing not only essential long-term risk capital to facilitate the rollout of infrastructure but also lending its extensive industrial know-how to support management teams in scaling their businesses effectively. This collaborative engagement ensures that portfolio companies are well-equipped to navigate the complexities of the energy market.
The fund plans to build a diversified portfolio comprising 6 to 7 key investments. Glentra aims to deploy over 1 GW of low-cost and reliable energy infrastructure by the year 2030. By focusing on local energy production, this initiative seeks to empower countries and industries to enhance their competitive edge while also promoting energy independence and achieving ambitious decarbonization targets. As a result, it is projected that more than 1 million tonnes of CO₂ emissions will be abated annually through these efforts.
Founded in 2022, Glentra Capital has assembled a talented team of over 20 professionals with extensive experience across its offices in Copenhagen, London, and New York. The firm’s deep expertise in industrial operations, financing, and risk management within the energy sector uniquely positions it to effectively support and nurture its portfolio companies throughout their growth journeys.
KEY QUOTES:
“Raising €565 million for our debut fund, alongside €230 million of co-investment capital, from institutions in Europe and North America is an extraordinary achievement. We are proud of this milestone and grateful to our investors for their trust. At a time when many first-time managers struggle to raise capital, our successful close demonstrates the confidence investors have in our team, strategy, and ability to deliver energy transition infrastructure with attractive returns.”
Steen Lønberg, Partner and Head of Capital Formation and IR
“Glentra’s mission is to accelerate the transition to a new sustainable energy system. We focus on infrastructure providing cost competitiveness, reliability, energy independence, and decarbonization. We invest in market-innovative companies delivering customer-centric energy infrastructure solutions to communities and industries. The velocity of the energy transition continues at a high pace with attractive investment opportunities in power generation, storage, grid, and electrification of heat and transport among others. With our debut fund and a team of energy specialists, we have the capital and know-how to successfully execute investments in the lower mid-market and support management teams in rolling out infrastructure and scaling businesses.”
Henrik Tordrup, Managing Partner and Head of the Investment Team
