Sustainable switchgear technology firm Nuventura secures €25 million in Series A funding, to accelerate global energy industry's transition away from harmful greenhouse gases
SINGAPORE, Sept. 5, 2023 /PRNewswire/ -- Nuventura, a leading provider of SF6-free, medium-voltage (MV) gas-insulated switchgear (GIS) technologies, today announces the completion of a €25 million Series A investment round.
The round is led by Mirova, through its impact private equity strategy, alongside new investors Forward.one and EIC Accelerator, and existing investors IBB Ventures, ADB Ventures, Cycle Group, Future Energy Ventures, and DOEN Participaties. The funding brings total investment in Nuventura to more than €35 million.
The capital will be used towards expanding Nuventura's product portfolio and the further development of its manufacturing capabilities around the world, as the company continues to drive the global energy industry's transition away from harmful greenhouse gas-based technology infrastructure.
Dr Fabian Lemke, Nuventura Co-founder and CEO, comments: "This is an extremely exciting time to be in this sector. Greater appreciation for the environmental threats posed by SF6 and accompanying regulatory oversight means that Nuventura, with our dry-air alternatives, is very much in the right place at the right time. This funding round is evidence of that and puts us in an ideal position to expand our operations internationally and continue providing sustainable switchgear alternatives for different use-cases together with our valued business partners around the globe."
Anne Boulet, Investment Manager at Mirova, comments: "The purpose of Mirova's private equity strategy is to foster the growth of innovative companies having a positive environmental impact. As the drive towards a progressive SF6 phase out is increasing, we are thrilled to have been given the opportunity to support Nuventura's great team in their international expansion and as such actively contribute to decarbonising the energy industry."
ABOUT NUVENTURA AND SUSTAINABLE SWITCHGEAR
Germany - Nuventura HQ and Technology Center
ABOUT NATIXIS INVESTMENT MANAGERS
NATIXIS INVESTMENT MANAGERS
FORWARD.one is a venture capital fund based in the Netherlands focused on deeptech hardware start-ups. FORWARD.one manages 200 million euros across multiple funds, with investments in Climate Tech, Semiconductors/Quantum and Industrial High Tech companies. With a team of financial professionals and technology entrepreneurs, FORWARD.one actively supports their portfolio companies to achieve their goals and ambitions. https://www.forward.one/
About Future Energy Ventures
Future Energy Ventures is the venture capital investment and collaboration platform of E.ON. It invests in digital and digitally enabled technologies and business models that have the potential to redefine the future energy landscape. Typically focusing on digital, scalable and asset-light companies seeking Series A and B funding, Future Energy Ventures seeks to capitalise on the investment opportunities presented by the transition to this new energy future and maximise scaling opportunities for its portfolio. For more information visit www.fev.vc
About EIC Fund
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance.
The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.
The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.
About ADB Ventures
ADB Ventures is the Asian Development Bank's venture arm, supporting and investing in early-stage technology companies with the potential to scale and deliver climate impact in emerging Asia. ADB Ventures typically invests across seed and early stages, providing leading technology companies with capital, deep insights, and networks to reduce market entry risks and accelerate operational scale-up. For more information, visit ventures.adb.org
View original content:https://www.prnewswire.com/apac/news-releases/sustainable-switchgear-technology-firm-nuventura-secures-25-million-in-series-a-funding-to-accelerate-global-energy-industrys-transition-away-from-harmful-greenhouse-gases-301916627.html
Solutions Showcase Session
Cybersecurity Solutions Session
The Secret to Making Hybrid Work Work â€“ Collaboration from Anywhere