November 12 (Renewables Now) - Finnish utility Helen Ltd has created Helen Ventures to invest in growth companies that will help speed up the transformation of the energy industry.
Helen will put EUR 50 million (USD 55m) in the new investment unit for the first five years. Apart from long-term funding, Helen Ventures will also provide practical support and networks, and will enable collaborative innovation.
“Interesting new initiatives can be found from both energy-related technologies and digitalisation, and the circular economy. However, everyone is united by the opportunity to create ever smarter and cleaner energy solutions,” said Terhi Vapola who will stand at the helm of Helen Ventures.
Helen sees the launch of this unit as an important step towards carbon-neutrality. By 2025, the utility aims to reduce its carbon dioxide emissions by 40% from the 1990 level and reach 25% renewables. It will phase out coal by 2029 and become carbon neutral in 2035.