Centrica To Invest In Fund Backing The Technologies Driving The Energy Transition
The title of this post, is the same as that of this press release from Centrica.
This is the sub-heading.
Centrica has made a $13.5 million anchor commitment to the first close of ERV Fund II, a new fund from London-based venture capital firm Energy Revolution. The fund is targeting US$50 million and invests at Seed and Series A in energy storage, grid technology and advanced materials.
These two paragraphs add more details.
The electrification of transport, heating and industry, alongside the rapid growth of data centres, is accelerating demand for electricity. That is putting greater pressure on the grids, storage systems, and materials needed to generate, move and deliver reliable power.
Founded in 2021, ERV Group backs early-stage energy technology companies through ERV Fund II and its venture builder, Prosemino. Its technical committee is led by three UK experts: Professor Paul Shearing, Director of the Zero Institute at Oxford University; Professor Chris Howard, Professor of Materials Physics at University College London; and Daniel Brett, CEO of Sention Technologies and formerly co-head of UCL’s Electrochemical Innovation Lab. The firm also has seven full-time PhDs across its technical team.
It looks to me, that this is a good long-term strategy from Centrica.
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