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Home Cleantech Funds E Electranova Capital EDF and Idinvest Partners create Electranova Capital

EDF and Idinvest Partners create Electranova Capital

First published on the Cleantech Investor website, May 2012

EDF and Idinvest Partners have created a venture capital fund called Electranova Capital, providing a minimum of €60 million for investment in innovative projects focusing on new technologies for energy production and usage. The fund will focus on growth companies in France and elsewhere in Europe and will take minority shareholdings.

EDF has contributed €30 million to Electranova Capital, which has also secured a commitment of €10 million from financial investor Allianz. The fund is still open to investors. EDF believe the launch of Electranova is positioned in the context of “an ever-evolving energy mix, characterised by countless innovations”. – and in a world where questions are being raised around issues such as smart grids, electric vehicles,, energy efficiency and electricity storage. EDF’s research and development team aims to forge ties and nurture partnerships with start up companies such as those which the fund will target. EDF’s innovation policy includes a commitment to several cleantech funds around the world including Chrysalix in Canada and Tsing Capital in China.

 

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