E.ON (FWB: EOAN), a Duesseldorf, Germany-based power and gas company, has created a new venture capital initiative.
It has already made investments in:
– Munich-based Orcan Energy GmbH, a spin-off from Munich Technical University (read here our news).
– Bloom Energy, a Sunnyvale, California-based provider of solid-oxide fuel-cell technology.
– The Westly Group, an American venture capital firm that focuses on cleantech companies in areas such as e-mobility, renewable energy, smart grids, and energy efficiency for buildings (read here our news).
Commenting on the new initiative, Urban Keussen, Senior Vice President for Technology & Innovation at E.ON SE, said: “With our newly established venture-capital activities we make targeted investments in companies with technologies or business models that could improve or expand E.ON’s portfolio of products and services.
“At the same time we’re helping our partner companies understand our market needs and get access to our infrastructure or markets. Our investments focus on business models for distributed energy, smart grids and renewables”, he added.