Berlin, Germany-based a leading provider of SF6-free, medium-voltage (MV) gas-insulated switchgear (GIS) technologies, Nuventura raises EUR 25 million in Series A funding. The round took place on September 5, 2023. Mirova led the financing for the firm. Meanwhile, IBB Ventures, ADB Ventures, Cycle Group, Future Energy Ventures, as well as DOEN Participaties provided the investment. So far, the total capital financing amounts to more than EUR 35 million.
Purpose of financing for Nuventura
With the latest financing, the company seeks to fund the expansion of Nuventura’s product portfolio. It also seeks to further develop its manufacturing capabilities around the world. The company continues to drive the global energy industry’s transition away from harmful greenhouse gas-based technology infrastructure.
What the company’s official has to add
Dr Fabian Lemke, Nuventura Co-founder and CEO, said, “This is an extremely exciting time to be in this sector. Greater appreciation for the environmental threats posed by SF6 and accompanying regulatory oversight means that Nuventura, with our dry-air alternatives, is very much in the right place at the right time. This funding round is evidence of that and puts us in an ideal position to expand our operations internationally and continue providing sustainable switchgear alternatives for different use cases together with our valued business partners around the globe.”
What the investors have to comment
Anne Boulet, Investment Manager at Mirova, further said, “The purpose of Mirova’s private equity strategy is to foster the growth of innovative companies having a positive environmental impact. As the drive towards a progressive SF6 phase-out is increasing, we are thrilled to have been given the opportunity to support Nuventura’s great team in their international expansion and, as such, actively contribute to decarbonising the energy industry.”
About the company
Fabian Lemke, Manjunath Ramesh and Nikolaus Thomale launched the company in 2017. The Germany-based Nuventura specialises in the development of environmentally friendly gas-insulated switchgear, i.e., key hardware components found throughout electrical grids and energy infrastructure. Its patented technology replaces industry-standard sulphur hexafluoride (SF6) – the world’s strongest greenhouse gas, with 25,200x more global warming power than carbon dioxide – with dry air. Nuventura works with original equipment manufacturers, EPC providers, as well as project developers. The company shares its technology and divides the value chain through a partnership model. It has the aim to accelerate and facilitate the energy industry’s transition away from SF6. This enables Nuventura to help companies become compliant with imminent international regulation focused on the use of SF6 in switchgear and extend their product portfolios for new market segments in parallel.
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 gas-insulated switchgear (GIS) technologies, Nuventura raises EUR 25 million in Series A funding.){kind=link}