Nuventura, a prominent provider of medium-voltage (MV) gas-insulated switchgear (GIS) technologies free from SF6, has announced the successful conclusion of a €25 million Series A funding round today.
The Berlin-based company specializes in creating environmentally friendly gas-insulated switchgear, vital components within electrical grids and energy infrastructure. Their patented technology replaces the widely-used sulfur hexafluoride (SF6), the world’s most potent greenhouse gas with 25,200 times more global warming potential than carbon dioxide, with dry air. Given the pressing need to transition away from SF6 due to its severe environmental impact, regulatory bodies are phasing out its use in energy infrastructure.
Nuventura collaborates with original equipment manufacturers, EPC providers, and project developers, offering its technology and splitting the value chain through a partnership model. This approach aims to accelerate and facilitate the energy industry’s shift away from SF6. In doing so, Nuventura aids companies in achieving compliance with impending international regulations concerning SF6 usage in switchgear and broadening their product offerings for new market segments.
The funding round is led by Mirova, via its impact private equity strategy, with participation from new investors Forward.one and EIC Accelerator, as well as existing investors IBB Ventures, ADB Ventures, Cycle Group, Future Energy Ventures, and DOEN Participaties. This latest funding round brings Nuventura’s total investment to over €35 million.
The capital infusion will be directed toward expanding Nuventura’s product portfolio and further advancing its manufacturing capabilities on a global scale. The company remains committed to driving the global energy industry’s transition away from environmentally harmful greenhouse gas-based technology infrastructure.