[Funding alert] Future Energy Ventures Secures €110 Million in Funding

Tuesday 30, 2024 | By Startup Rise EU

Future Energy Ventures secures €110 million in funding. E.ON and the European Investment Fund (EIF), who are anchor investors with a mid-double-digit million euro stake, have joined this recently founded fund.

Future Energy Ventures secures €110 million in funding. E.ON and the European Investment Fund (EIF), who are anchor investors with a mid-double-digit million euro stake, have joined this recently founded fund.

The primary focus of the FEV fund's investments will be in start-ups and scale-ups that create and apply digital solutions to accelerate the energy transition.

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The fund's whole capital is devoted to sustainable investments in three primary areas that have the potential to reduce carbon emissions: future technology, future cities, and future energy.

It intends to target 30 new investments situated in the innovation hubs of Europe, North America, and the Middle East, with an average initial ticket size of between €1 and $10 million for early-stage investments. The partners' industry experience in energy benefits future investors.

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Jan Lozek, Founder and Managing Partner of FEV said, “The clean energy economy is the greatest business opportunity of our generation, and we are excited to be raising our second fund at this pivotal moment. With FEV’s track record of portfolio successes, an extensive network of industry partners, our highly collaborative approach and deep sector focus, we are in a unique position to drive the digitization and decarbonization of the energy system. We are grateful to our investors and look forward to continuing discussions with potential institutional and strategic investors that share our vision,”.

With the help of this recently created fund, E.ON will be able to build on its many years of experience in the field of innovation and enlist the support of new partners that share its confidence in making investments in the energy transition by creating a solid innovation ecosystem.

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FEV now manages one of the largest worldwide funds dedicated to climate-tech investments, with a focus on start-ups and scale-ups that create and apply digital solutions to accelerate the energy transition.

Marjut Falkstedt, EIF Chief Executive, commented: “Better managing our energy needs is one of the most important challenges of our time. That’s why we are excited about our participation in the newly established fund. This investment aligns perfectly with the EIF’s strategic objectives and our commitment to driving the energy transition and supporting decarbonization efforts across Europe.”

Thomas Birr, Chief Strategy and Innovation Officer at E.ON, added: “This is a milestone for E.ON on our way to making the new world of energy work. Having access to Climate-Tech and the resulting digital solutions is a central cornerstone of our innovation initiatives through which we continuously integrate new technologies and startup solutions into the E.ON business. The newly established fund which is open for external investors builds on our success of the existing venture portfolio and is the next important step for E.ON to broaden impact through collaboration.”

About Future Energy Ventures

Future Energy Ventures (FEV) helps world-class, scaleable start-ups that are expediting the energy transition and helping society become carbon neutral. Established in 2016, FEV declared that its SFDR Article 9 fund, Fund II, would close for the first time in January 2024.

Read also - Cambridge-based Xampla Secures €6.4 Million in Funding

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