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Electranova Capital, an investment fund for energy start-ups specialising in "cleantech" solutions, introduces its first two investments: Actility and Seatower

EDF
10/05/2012

Launched in May 2012 by EDF, with support from Allianz and in partnership with Idinvest Partners, Electranova Capital, a venture capital investment fund for start-ups specialising in “cleantech” solutions has already made its first two investments.

Actility is a French company specialising in “smart grids”. The start-up has developed an innovative and standardised communication platform which enables the remote control of electrical appliances such as computers, heat and security sensors among other things. This platform allows users to measure, predict and control the electricity consumption of electrical appliances in industrial settings more effectively. This is a new tool which will effectively limit the electricity consumption of such equipment during peak consumption periods, thereby reducing the peak load on power stations, which produces the most CO2. The Actility platform also provides solutions for the “smart homes” of tomorrow, promoting, among other things, better energy management for individuals. Actility’s Founding CEO, Olivier Hersent, a well known entrepreneur within the field of internet telephony, stated “Gaining EDF’s support, via Electranova’s involvement in our company’s growth means that Actility is confident in its ability to be able to develop this new and innovative platform and to accelerate our growth initiatives both in France and internationally.”

Seatower is a Norwegian company who have developed pioneering gravity base foundations as a solution for offshore wind power. Easy to deploy due to their being simply “placed” on the sea bed and weighted by gravity, these foundations are particularly suitable for new wind farms in deep waters and are also more environmentally friendly to marine ecosystems. The Seatower team is comprised of experts with a track record in offshore oil and gas technologies, dedicated to bringing all their experience and know-how to the field of renewable energy
sources.

The aim of Electranova Capital fund, which has a minimum investment capacity of €60 million, is to encourage the emergence of innovative projects using new technologies, in order to embrace the challenge of a low-carbon energy model. With these first two investments the fund has already become a key player in the development of promising start ups.

Bernard Salha, the EDF Group Director of R&D stated “the EDF Group is delighted with these first two investments, which demonstrate the dynamic nature of Electranova Capital and the quality of the partnership with Idinvest Partners, but also the capacity of the EDF R&D Division to promote innovation in cleantech solutions.”

The EDF Group, one of the leaders in the European energy market, is an integrated energy company active in all areas of the business: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 96.5% of the electricity output is CO2-free. EDF's transmission and distribution subsidiaries in France operate 1,285,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to approximately 27.9 million customers in France. The Group generated consolidated sales of € 65.3 billion in 2011, of which 43.1% was achieved outside of France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.
Contacts
Press:
Alison Marquilly +33 (1) 40 42 46 37
Analysts and Investors
Kader Hidra & Carine de Boissezon +33 (1) 40 42 40 38
US Investors
David Newhouse +33 (1) 40 42 32 45
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