Madrid-based alternative asset manager Alantra and Spanish gas grid operator Enagas SA (BME:ENG) said on Wednesday that they had closed their energy transition fund at EUR 210 million (USD 208.4m), exceeding the target of EUR 150 million.
Klima Energy Transition Fund secured a commitment of EUR 30 million from the European Investment Fund, part of the European Investment Bank Group. Alantra and its shareholders, Enagas, and the investment team made a joint investment of around EUR 50 million. Commitments also came from institutional investors, energy-related companies, public and European institutions and family offices, according to the press release.
“Representing approximately three quarters of greenhouse gas emissions, the energy space needs smart money to scale up impactful innovation,” commented Alain Godard, Chief Executive of the European Investment Fund. “We are proud to be backing Klima, an experienced and skilled team located in Spain and Germany, who will target promising companies in this field across Europe.”
Klima is focused on acquiring minority stakes in companies with high growth potential in energy transition sectors. These may include companies providing low-carbon solutions, smart power grids, energy storage, renewables and enabling technologies, energy-sector digitalisation, energy efficiency in hard-to-abate sectors and sustainable transportation.
The fund recently invested in SunRoof, a Swedish start-up offering integrated solar roofs. Its investments also went to US power generator Mainspring and Swiss weather forecast predictor Meteomatics.
(EUR 1.0 = USD 0.992)
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