HTGF et al. back first round for start-up enercast

HTGF has not disclosed its share in the investment but typically invests €500,000 in first rounds.

Enercast will add to the high-tech portfolio of HTGF II, which currently has €291m of assets under management.

Innogy invested through its €115m renewable energy fund, Innogy Renewables Technology Fund I.

The investment will advance the technology of the company's product and bring it to a wider market.

Partnering up with the two investors will also give enercast access to networks through which it plans to grow.

Company
Enercast launched in Kassel in 2011 and has since been selling its electricity generation forecasting tool to a small range of customers.

The company developed the formulas for its product in partnership with the Fraunhofer Institute for Wing Energy and Energy System Technology over the past three years.

Enercast attempts to solve the issue of unreliable electricity production in renewable energy systems. It has developed a location-specific forecaster that can be accessed over the web, eliminating the need for software and hardware installations.

People
Crispin Leick is managing director of Innogy Venture Capital. Markus Kreßmann is senior investment manager at HTGF.

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• Topics
• Expansion
• Technology
• DACH
• High-Tech Gründerfonds
• Germany
• Start-up
• Innogy Venture Capital