GERMANY – Nuventura, a Berlin, Germany-based provider of SF6-free, medium-voltage (MV) gas-insulated switchgear (GIS) technologies, raised €25M in Series A funding.
The round, which brought the total amount to €35M, was led by Mirova, through its impact private equity strategy, alongside new investors Forward.one and EIC Accelerator, and existing investors IBB Ventures, ADB Ventures, Cycle Group, Future Energy Ventures, and DOEN Participaties.The company intends to use the funds to expand its product portfolio and further develop its manufacturing capabilities around the world.Led by CEO Dr Fabian Lemke, Nuventura specialises in the development of environmentally friendly gas-insulated switchgear: key hardware components found throughout electrical grids and energy infrastructure. Its patented technology replaces industry-standard sulphur hexafluoride (SF6) – the world’s strongest greenhouse gas, with 25,200x more global warming power than carbon dioxide – with dry air. It works with original equipment manufacturers, EPC providers, and project developers to share its technology and divide the value chain through a partnership model, with the aim of accelerating and facilitating the energy industry’s transition away from SF6. In so doing, Nuventura helps companies become compliant with imminent international regulation focused on the use of SF6 in switchgear and extend their product portfolios for new market segments in parallel.06/09/2023
