Vestas is launching a new venture investment programme to accelerate the deployment of sustainable energy, the electrification of societies and unlock new growth opportunities.
Vestas Ventures will invest in early-stage start-ups within sustainable energy.
It will partner as a lead or follow-investor with start-up companies globally with promising technologies and solutions.
These will include long duration energy storage and grid flexibility solutions for supporting further build-out and integration of renewables and power to X for electrifying and decarbonising heavy transport and industries via technologies such as green hydrogen.
Wind energy technologies and solutions will also be eligible that continuously improve the value proposition of the sector, and boost sustainability and advanced materials, such as better recyclability of blades and reduced waste footprint.
Vestas senior vice president and head of Innovation Bo Svoldgaard said: “With Vestas Ventures, we aim to engage with start-up companies to accelerate the deployment of sustainable energy and find partners with a shared purpose and strategic fit that support Vestas’ role in the energy transition.
“This is a great example of how we engage in close and mutually beneficial partnerships across our value chain.”
Group senior vice president and head of corporate strategy Thomas Alsbjerg said: “We want to combine Vestas’ 40 years of experience in pioneering renewable energy with world-class start-ups and help build solutions that will shape the energy systems of the future.
“We have entered a new decade of transformation and the pace of the energy transition requires new partnerships and targeted innovation efforts.”
Vestas Ventures is currently identifying its initial potential investments and will aim to leverage its experience from previous engagements and innovation partnerships to guide investment decisions.
This includes Vestas’ investment in the Swedish battery manufacturer Northvolt, a solution that has since grown to become a global technology leader.