EDF unveils funding pot for SMEs

A new low-carbon venture capital fund for SMEs in the energy sector has been launched by EDF and Idinvest Partners.

The Electranova Capital fund aims to encourage innovative low-carbon projects, which focus on new technologies for energy production and usage, and is looking specifically for young companies with strong growth potential in Europe.

With a minimum investment capacity of €60m, EDF has contributed €30m to the pot, while financial investor Allianz has invested €10m. It is now looking for other investment partners to get involved with the project throughout 2012.

As part of the scheme, EDF will also offer successful candidates cleantech expertise, with its research & development (R&D) team already taking an active role in research into new technologies and innovative business models.

According to EDF, the project will also provide an opportunity for start-ups to develop partnerships with its R&D team and other departments.

EDF R&D director Bernard Salha, said: “EDF R&D is already very involved in projects focusing on the development of renewable energies, storage, smart grids, electric vehicles and energy efficiency, and with Electranova Capital, it is keen to consolidate its commitment to innovation and contribute to an industrial impetus in technology that respects the environment.”

The launch of this fund also ties in with the energy supplier’s innovation policy, which has committed strategic contributions to a number of funds specialising in technologies that safeguard the environment worldwide.

Carys Matthews

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