Gamesa, a Spanish leader in the design, manufacture, installation and maintenance of wind turbines, has launched a €50m corporate venture capital (CVC) fund.
The new vehicle focuses on buying stakes, initially minority holdings, in start-up or growth companies involved in the development of promising technologies including wave and next generation photovoltaic energies, energy storage, green mobility, energy efficiency and off-grid systems over the next five years. Gamesa provides the companies with its skill and experience in technology, manufacturing and finance and its local supply chain to achieve greater market competitiveness and, in consequence, higher financial and strategic returns.
In the medium and long term, Gamesa will consider taking the companies over, either as new business lines or as sources of value via spin-offs on capital markets.
The fund’s first investments include the acquisition of:
28.7% stake of US-based SkyBuilt Power, which has developed products that mix photovoltaic and mini-wind technologies, and
25% stake of US-based WorldWater & Solar Technologies, which has developed systems for pumping and purifying water and capturing energy not used for other purposes.