Norwegian state-owned energy company Statkraft will invest up to €10m ($11.2m) in early-stage energy-based companies each year through its corporate venturing unit, Statkraft Ventures.
Germany-based Statkraft Ventures will invest across Europe, committing up to €2.5m for each investment, and plans to eventually commit a total of €100m across a 10-year period.
Matthias Dill, managing director of Statkraft Ventures, said: “Even though capital is an important part for a start-up’s sustainable growth, we know that committed founders are the key to success. We strongly believe in the independence of entrepreneurs and support founders as active board members.”
Statkraft produces hydropower, wind energy, gas power and district heating, and claims to be Europe’s largest renewable energy generator. It pledged in December 2014 to invest more than $8bn in renewables in the upcoming years, but has been relatively subdued in its corporate venturing activities.
– Photo courtesy of Statkraft