To accelerate the deployment of sustainable energy, the electrification of societies and unlock new growth opportunities Vestas has launched a new venture investment program – Vestas Ventures.
As the corporate venture capital arm of the company, Vestas Ventures will invest in early-stage start-ups within sustainable energy. Vestas Ventures will partner as a lead or follow-investor with start-up companies globally with promising technologies and solutions within:
-Long duration energy storage and grid flexibility solutions for supporting further build-out and integration of renewables
-Power to X for electrifying and decarbonizing heavy transport and industries
-Wind energy technologies and solutions to continuously improve the value proposition of wind energy
-Sustainability and advanced materials such as improved recyclability of wind turbine blades and reduced waste footprint
“With Vestas Ventures we aim to engage with start-up companies to accelerate the deployment of sustainable energy and find partners with a shared purpose and strategic fit that support Vestas’ role in the energy transition,” says Bo Svoldgaard, senior vice president and head of innovation and concepts at Vestas. “This is a great example of how we engage in close and mutually beneficial partnerships across our value chain.”
Vestas Ventures is currently identifying its initial potential investments and will aim to leverage its experience from previous engagements and innovation partnerships to guide investment decisions. This includes Vestas’ investment in the Swedish battery manufacturer Northvolt, a solution that has since grown globally.
Original source: North American Wind Power