E.ON, an electric utility company, has reportedly announced a new funding worth €250 million. The funding has been raised to drive digital technologies and business models.
The electric utility company has unveiled the new fund through its venture capital investment platform, Future Energy Ventures. The platform focuses on investing in digital as well as digitally enabled technologies, as they have the capability to offer high potential in redefining the energy landscape in the future. The launch of the platform happened in line with the company’s acquisition of innogy SE. This has brought an enviable level of expertise and experience to significantly invest and scale the energy-focused startups across the companies’ team to develop a leading venturing platform.
The fund will aid the scalable, digital, and asset-light businesses that transform the energy ecosystem. They are seeking Series A and beyond seed funding, in order to ensure product/market fit. The global startups will be supported by Future Energy Ventures, with operations in Israel, Silicon Valley, and Germany hubs.
As per the statement made by Future Energy Systems’ managing partner, Jan Lozek, there has been a rapid technological transformation in the energy ecosystem, providing considerable investment opportunities. In addition to the crucial move of the traditional energy supply chain to a smart generation and storage, there has been a surge in the development of smart cities and buildings, fundamentally redefining the energy role in the society. Furthermore, the company is targeted towards energy transformation via the innovative business and business model growth.
Future Energy Systems’ managing partner, Ines Bergmann-Nolting, has reportedly stated that business growth can be derived through various initiatives including collaboration as well as by leveraging the opportunity to partner with various organizations. The company is focused on expanding a set of partners and create a strong impact on the mutual financial & strategic benefit. The team aims at facilitating and supporting the pilots and use-case rollouts within E.ON as well as across the partner ecosystem to ensure systematic scaling across their portfolio.