Energy ventures

RWE Innogy has announced investments in Stirling DK, a manufacturer of distributed cogeneration systems, and Swedish technology firm Mantex.

Danish firm Stirling has developed a distributed CHP system based on a Stirling engine that generates energy from low-cost solid biomass material. The first systems have already been installed in Germany and the investment by RWE is expected to increase the development of the technology. The group’s investment in Mantex is expected to improve its measuring equipment, used for precise measurement of the moisture and ash concentration of biomass.

The deals bring RWE Innogy's venture capital portfolio to a total of six companies with an investment volume of more than €35m (£30m). Last year, RWE Innogy acquired shares in Quiet Revolution, a UK-based developer of micro wind turbines, and the Dutch company Topell, which is developing an innovative process to produce biocoal pellets.

The company expects to provide further support to promising companies that have developed technology in the area of carbon-neutral energy generation.

Crispin Leick, head of RWE Innogy's Venture Division, said: ‘With our commitment, we intend to take promising technologies enabling carbon-neutral energy generation to the production stage so as to make them fit for commercial deployment.

‘With our six venture capital investments in innovative European companies, we have already been very successful. As corporate venture capital investors, we are a reliable partner in the current market environment for young innovative companies seeking equity capital to develop and launch their technologies in the market.’