Germany-based energy utility Eon launched a venture capital platform called Future Energy Ventures today with a portfolio that has received €250m ($294m) of capital.
The move follows Eon’s acquisition of domestic peer Innogy in June this year, and its 64-strong portfolio combines investments made by each company.
Future Energy Ventures will function as an investment fund and collaboration platform for Eon and will focus on companies developing digital or digitally-enabled products and technologies from series A stage and later that can strengthen the energy industry.
Jan Lozek, managing partner at Future Energy Ventures and formerly managing director of innovation for Innogy, said: “The entire energy ecosystem is being transformed by technology at an ever-accelerating pace creating significant investment opportunities.
“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.
“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.”
In addition to the Germany-based Lozek, the Future Energy Ventures team includes US-based managing directors Patrick Elftmann (former investment partner at Innogy Ventures) and Konrad Augustin (former managing director at Eon Strategic Co-Investments), as well as Ines Bergmann-Nolting, Eon’s head of scouting and co-investments.
