T-Venture, the corporate venturing unit of Germany-based phone operator Deutsche Telekom, has joined a consortium investing an undisclosed amount in local clean-tech company FutureE Fuel Cell Solutions’ series B round.
The other members of the consortium are UK-based Entrepreneurs Fund, which is a member of the Cofra holding group managing long-term investments on behalf of the Brenninkmeijer family, and German state bank KfW.
Deutsche Telekom’s Power & Air Condition Solution Management subsidiary bought one of FutureE’s fuel cells in January to prevent power disturbances in the phone network.
Bruno Jacobfeuerborn, managing director of technology at Deutsche Telekom, said: "Fuel cells are a [carbon dioxide] CO2-neutral alternative, both to ensuring availability with conventional lead batteries and other means of providing energy. We feel that this gives us the opportunity to free ourselves from the impact of fluctuations in oil and electricity prices."
FutureE raised it’s a round of undisclosed size in October 2008 from Entrepreneurs Fund Management, KfW and its peer Landeskreditbank Baden-Württemberg – Förderbank (L-Bank).