The Fund Transforming the Energy Ecosystem

(Image: Future Energy Ventures)
(Image: Future Energy Ventures)

Future Energy Ventures (FEV) is the venture capital investment and collaboration platform of E.ON, investing in start-ups that are transforming the energy ecosystem and pioneering the future of energy.

Fund Snapshot:

  • Stage: Series A+
  • Check Size: €1-5mm for Series A, €5-10mm for later stage
  • Geography: North America, Europe, Israel     
  • Lead/Follow: Will lead and follow  – case by case basis
  • Revenue/Valuation: Typically post-revenue, ~€1m for Series A companies 

About the Fund

Why was the fund created?

FEV was formed in 2020 as the venture capital investment and collaboration platform of E.ON with the mission to invest in and support start-ups that have the potential to transform the traditional energy value chain and catalyze the transition towards a net-zero economy. By doing so FEV also supports E.ON’s sustainability goals and strengthens innovation in E.ON by bringing start-ups and industry partners to E.ON’s core business activities. FEV‘s team is committed to the decarbonization, digitization, democratization, and decentralization of the energy landscape, driving impact across industries.

What is FEV’s core belief?

The energy industry is known to be one of the most challenging for start-ups, but FEV believes their close partnerships with E.ON and other industry partners positions them to help start-ups innovate and work with utilities and/or organizations that accelerate their growth. FEV believes that cutting-edge technologies will drive the convergence of industries where energy infrastructure converges with other infrastructure and ultimately energy will be abundant, digitally-driven, and cheap. Hence, FEV invests in energy in the broadest sense, covering all aspects of a connected network, including but not limited to: electric vehicles, mobility, smart cities, proptech, climate risk analytics, smart grid infrastructure, artificial intelligence and blockchain.

What domains in climate tech does FEV have the greatest experience in?

FEV consists of a seasoned investment team with 100+ years’ of experience in the energy sector and 90+ years of investment experience in energy and climate tech. FEV focuses on the business models and technologies that build towards the energy transition, with an eye on broader trends across digital transformation, changing consumer demands, and impacts of climate change. Within the domain of climate tech FEV has expertise in climate intelligence, including greenhouse gas management and climate risk analysis.

What type of portfolio support does FEV provide?

FEV provides funding, industry expertise, mentoring and connections to accelerate portfolio companies’ growth trajectory. FEV is not just an investor but also a partner, working together with its portfolio companies to build their readiness for scaling, driving growth opportunities and providing access to new markets.

FEV’s extensive global network enables our start-ups to attract continued investment and innovate further, as well as opportunities to work with E.ON and other industry players, opening up new business and future revenue streams. FEV additionally supports portfolio companies’ HR and recruitment processes and provides opportunities for them to build their brands via participation in industry events, such as FEV’s Portfolio Days and E.ON’s Energy Innovation Days, and in FEV’s proprietary content, such as the Future Fuel series.

FEV’s hands-on support helps us attract the best companies in the industry, while the fund’s unique network and domain expertise help us drive financial returns and outsized impact.

About the Investments

What is FEV’s investment process and timeline?

Future Energy Ventures follows a disciplined sourcing funnel. The investment process at FEV begins with deal sourcing from our extensive network within the energy sector, in addition to meeting start-ups at industry conferences and events. The fund’s sweet spot is asset-light, digital, scalable companies seeking Series A and B funding that have shown evidence of a product-market-fit. After a series of calls, a startup will then present to the FEV team. FEV likes to take a board seat, or at the very least a board observer seat, in the start-ups we invest in.

FEV’s investment process can vary in duration depending on the type of company/technology due diligence required, but the fund aims for it to be as quick as 3 weeks, though it can take longer if needed.

What would make FEV consider deviating from its typical criteria?

FEV is always looking to expand its scope to encompass a wider definition of the future of energy, which includes smart city technologies and blockchain and AI-based business models, for example.

FEV recognizes that start-ups come in all shapes and sizes nowadays, and there can be some flexibility in our investment stage, check size and equity share if the fund finds a particularly exciting start-up to work with.

About The Author

Daniel Kriozere

Daniel Kriozere

Co-Founder @ The Impact

Daniel currently works at Lawrence Livermore National Laboratory as a Product Manager. Outside of his day job, he is a Principal at C3, Tech Scout at For ClimateTech, and Venture Scout at Prithvi. He also works with various climate incubators/accelerators (Cleantech Open, Techstars, and Joules Accelerator) and runs The Impact and Innovate Climate – both are newsletters covering startups in the climate space.

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