- Nearly EUR 50 million already invested in a total of eight companies
- Latest investment to eliminate much CO2 from hydrogen production
- Germany's first micro wind turbines, made by Quiet Revolution Company, are dedicated on the roof at ETEC
Micro wind turbine
With nearly EUR 50 million of equity capital invested, RWE Innogy now ranks among Europe's leading venture capital investors in the field of renewable technologies.(1) As Professor Fritz Vahrenholt, Chairman of the Board of Directors of RWE Innogy, says: "in the space of less than two years, we have successfully built up a significant portfolio of investments in innovative, renewables-based technology companies. This has given a powerful boost to technological development - even in the depths of financial recession. Our anti-cyclic investment strategy has enabled us to stand out clearly from our competitors."
To date RWE Innogy's venture capital activities have given it stakes in eight companies in Germany and elsewhere in Europe. The company is seeking to invest hundreds of millions overall in this field in the next few years. "The aim of its venture capital activities is to give RWE early experience of highly promising, innovative technologies, new markets and alternative business models. This will form the basis of future competitive advantage and sustainable profitable growth," explains Crispin Leick, Venture Capital Manager at RWE Innogy.
As of today, one of RWE Innogy's venture capital innovations can be admired on the rooftop at Essen Technology and Development Centre (ETEC). In the presence of Essen’s Lord Mayor Reinhard Paß and ETEC Managing Director Andreas Hillebrand, the company has today commissioned two micro wind turbines made by Quiet Revolution Ltd., London. They are the first turbines of their kind in Germany.
Construction micro wind turbine
"The climate summit in Copenhagen has again reminded us of our responsibility for the climate and the future of our children and our children's children. We must be ever mindful of the cost of energy and how we can conserve it and exploit new - or rather renewable - energy sources. We are delighted to be successfully tapping the power of wind here at ETEC, in cooperation with our partner RWE," says Reinhard Paß.
Andreas Hildebrand is equally up-beat about ETEC's cooperation with RWE. "The best possible partners have come together on this project: RWE, the driver of forward-looking renewable energy technology in Europe, and ETEC, a dynamic and growing venue for innovative firms from the environmental/energy sectors."
RWE Innogy holds a minority stake in Quiet Revolution. The goal is to carry these turbines forward into mass production and make them commercially viable. Fritz Vahrenholt notes, "this pilot plant can demonstrate that the technology also works in conurbations. To exploit Germany's full market potential, the micro wind plants should be eligible for EEC subsidy. They could operate viably on a subsidy of around EUR 0.20 per kWh generated. The level of subsidy - not even half of that currently allocated to photovoltaic generation - should definitely be high at first and then decline, to drive further technological development. In the short term, start-up finance would also be conceivable, say through a programme of market incentives."
RWE Innogy chose the occasion of the launch of the new micro wind turbines to announce its latest minority interest in the company Ceram Hyd, of Avon, France. Ceram Hyd is a developer and manufacturer of special ceramic membranes for electrolytic hydrogen production. The company has specialised in developing ceramic membranes, which allow much cheaper electrolytic production of hydrogen. Above all, the method is CO2-free.
(1) Source: analysis of data from Dow Jones VentureSource/Internet, focusing on investment in renewable power generation and storage in Europe (excluding service companies).
