IBB and E.On invest in Nuventura

Other investors in this round include energy storage company Apex Energy Teterow and business angels. While the precise amount was not disclosed, the consortium invested between €3-7m in Nuventura.

IBB is using funds from VC Fund Technologie Berlin, which held its final close on €60m in 2014. The fund typically invests €200,000-1m in seed rounds to acquire a minority stake. The fund can invest up to a maximum of €6m in subsequent rounds with existing and new investors.

The fresh capital will be used to obtain certifications and launch pilot projects. In October 2018, Nuventura launched a joint pilot project for its products with Westnetz. E.On and the company are now planning to launch a pilot project with the E.On grid operator E.Dis at the Ketzin substation.

Previous funding
Nuventura joined E.On’s Agile accelerator in 2017. Startups in the program receive up to €22,000.

In September 2018, Nuventura got accepted into phase 3 of the Climate-KIC Accelerator, which offers up to €95,000 in funding for startups.

Company
Switchgears are components of electricity grids that protect sections from faults occurring in other parts of the grid. Currently, most switchgears use sulfur hexafluoride (SF6), which currently has annual global emissions equivalent to the annual carbon footprint of approximately 100 million cars. Nuventura has developed switchgears that do not require this compound. Founded in 2017, the company is based in Berlin and employs 11 people.

People
E.Dis - Alexander Montebaur (chairman)
Nuventura - Fabian Lemke (commercial director).

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