Renewable energy fund manager Modus Asset Management has been rebranded to Envolve Capital.
The company, which invests in renewable energy infrastructure projects in the Baltic States and Central and Eastern Europe (CEE), currently manages four investment funds with a total committed capital of over €170m.
Chief executive and board member Povilas Pečiulis (pictured) said: “Over the last seven years since our launch we have grown to become one of the largest renewable energy infrastructure investment managers in the Baltics and Poland, trusted by prominent international institutional investors, family offices and private wealth investors.
“However, our long-term goals are even more ambitious – to be among the leaders in this field in CEE, where we already manage a number of projects.
“We have chosen a new brand for this new phase of our international expansion, reflecting the company’s mission and bold ambitions for the future.”
The new name “Envolve” is a fusion of the words “energy” and “evolve”. According to Pečiulis, this embodies the company’s focus and core mission to contribute to the energy transition across the region.
“This is an ambition that makes sense to us not only as a business goal, but also as a way of creating a cleaner, greener energy system in Europe,” he added.
“It also directly contributes to our region’s energy independence and security.”
The funds managed by the company have so far invested in 370MW solar and wind power projects in Lithuania, Poland and Latvia.