Vestas has launched a new venture investment programme to accelerate the deployment of sustainable energy, greater electrification and create new opportunities for growth.
It will invest in early-stage start-ups within sustainable energy around the world through its new corporate venture capital arm, Vestas Ventures.
Vestas Ventures will partner as a lead or follow-investor with new companies working in long-duration energy storage and grid flexibility solutions, Power-to-x, wind energy technologies and solutions and sustainability and advanced materials.
It will also provide technical and technological expertise to start-ups in which it invests.
The venture capital unit is currently identifying its initial potential investments, Vestas stated.
The manufacturer explained that previous investments – such as its financing of Swedish battery manufacturer Northvolt – would help guide its decisions.
Vestas Ventures will operate within Vestas and will be run by the turbine manufacturer’s innovation and strategy departments.
It will be led by the heads of the two departments: Bo Svoldgaard, senior vice president and head of innovation and concepts and Thomas Alsbjerg, group senior vice president and head of corporate strategy.