Climate Change Capital Private Equity, manager of a EUR200m fund dedicated to clean technology, is making a EUR10m investment in Power Plus Communications, a German company that specialise
Climate Change Capital Private Equity, manager of a EUR200m fund dedicated to clean technology, is making a EUR10m investment in Power Plus Communications, a German company that specialises in using broadband communications to develop smart grid solutions.
Climate Change Capital Private Equity will become the only institutional investor in Power Plus following this financing round and will take up seats on the board of the company, in which the management also hold a significant ownership stake.
Power Plus is a provider of broadband power line communication systems, which transform electricity networks into smart grids. The company’s technology is fully standards-based and enables broadband data transfer on low and medium voltage distribution networks. Its systems will form part of the underlying infrastructure enabling utilities to communicate with smart meters and support the development of smart grid applications.
Founded in 2001, Power Plus has already sold its products for commercial deployments connecting more than 300,000 households. The capital invested in this funding round will enable the company to continue to market and develop its broadband power line products and take advantage of the growth in smart metering deployment in Europe, the Middle East and North America.
‘In the near future we will see a transformation of the passive power grid into an actively managed network where broadband power line communication will play an important role – for example, to enable decentralised renewable power generation to be used more efficiently or to inform consumers about their power consumption on a real-time basis,’ says Climate Change Capital Private Equity partner Bruno Derungs. ‘We are very impressed about the performance, quality and market acceptance of Power Plus’s product, as well as the expertise and experience of its team.’
Power Plus chief executive Ingo Schönberg: ‘We very much appreciated Climate Change Capital Private Equity’s technical knowledge, investment experience, strategic advice and general support during the fundraising process.
‘This funding constitutes a major milestone for Power Plus towards our goal to become a leader in the rapidly growing smart grid and smart metering market. The convergence of communication and energy networks into smart grids is a key pillar for improving the efficiency of energy usage. We are sure that our broadband power line solution will become a key technology in the energy efficiency market.’
Climate Change Capital is an investment manager and advisor specialising in the opportunities created by the transition to the low carbon economy. It develops and manages funds that invest in companies, projects and technologies that provide products or services facilitating climate change mitigation or adaptation, and has more than USD1.6bn under management in infrastructure and carbon, private equity, listed equities, real estate, land and water. The firm also provides financial, strategic and policy advice to energy-intensive industries, financial institutions, clean technology companies and governments.
Climate Change Capital Private Equity, whose EUR200m clean tech private equity fund is one of the world’s largest, invests in expansion capital for later-stage companies and finances management buyouts.
