Vestas to fund start-ups through new venture capital arm

Vestas has launched a new venture investment programme to accelerate the deployment of sustainable energy, greater electrification and create new opportunities for growth.

It will invest in early-stage start-ups within sustainable energy around the world through its new corporate venture capital arm, Vestas Ventures.

Vestas Ventures will partner as a lead or follow-investor with new companies working in long-duration energy storage and grid flexibility solutions, Power-to-x, wind energy technologies and solutions and sustainability and advanced materials.

It is currently identifying its initial potential investments, Vestas stated.

The manufacturer explained that previous investments – such as its financing of Swedish battery manufacturer Northvolt – would help guide its decisions.

It is not yet clear what Vestas Ventures’ budget will be, whether it will be solely funded by Vestas, or whether the manufacturer will also offer technical or technological expertise to startt-ups through the programme.

More to follow.