•  
  •  
  •  

BayWa r.e. plans investments in energy startups via new VC unit

Solar panels in France. Photo by: BayWa re renewable energy GmbH (www.baywa-re.fr).

April 10 (Renewables Now) - The renewables unit of German diversified group BayWa AG (ETR:BYW6) plans to make investments in startups from across the energy sector focussed on digital solutions, storage and e-mobility.

For the purpose, BayWa r.e. renewable energy GmbH has created a new company, called BayWa r.e. Energy Ventures Inc, with plans to initially invest up to EUR 5 million (USD 6.2m) and assist with branch expertise, infrastructure and distribution.

“As lead or co-investor, we are engaged for the long run and are planning to invest in up to five opportunities per year, with a focus on startups in Europe and Israel,” said Ulrich Seitz, a venture capital manager who will lead the new business as managing director.

(EUR 1.0 = USD 1.232)

More stories to explore
Share this story
Tags
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription