Venture Capital: E.ON’s Energy-Focused VC Fund Launches With €250M

October 8, 2020 | News, Venture Capital
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That’s €250 million already invested.

E.ON, the Germany-based, international, privately-owned energy supplier, announced on October 8 the launch of Future Energy Ventures, its venture capital arm. The fund will invest in energy-focused startups employing digital technology or business models that could “redefine the energy landscape. (BusinessWire)

Future Energy Ventures

E.ON recently completed its acquisition of innogy, the green power subsidiary of RWE (ETR: RWE). E.ON and RWE consummated a major asset-swap that drastically reshaped Germany’s energy landscape.

E.ON now has the expertise to invest in and scale up energy-focused start-ups and in Future Energy Ventures, it is looking to build an “industry-leading venture platform.”

Future Energy Ventures will seek digital, scalable, and asset-light startup businesses seeking funding in Series A and beyond.

“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,” said Jan Lozek, Managing Partner at Future Energy Ventures. “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.”

The E.ON VC arm hits the ground running

The VC arm has already invested €250 million in startups that had received funding either from E.ON or the newly acquired Innogy. These include Bidgely, Holobuilder, Intertrust, Thermondo, and T-Rex.

Future Energy Ventures stressed that the fund is only part of a larger “institutionalized collaboration platform” that also offers mentorship and collaboration with other organizations.

Managing Partner Bergmann-Nolting said, “We aim to facilitate and support pilots and use case roll-outs within E.ON and across our ecosystem of partners for systematic scaling across the portfolio.”

The company realizes the likelihood of large funding requirements in the future, hence its decision to lodge the VC investments in a separate fund rather than hold them on its own balance sheet.

Related Story:  Softbank Vision Fund Makes its Maiden Investment in an Energy Firm

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