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con|energy invests in new 50-million-euro venture capital fund for the energy transition


The investment in the Vireo Ventures Fund is intended to support start-ups that are driving the energy transition through electrification

con|energy is joining the newly launched Vireo Electrification Fund as a strategic and financial investor. The fund invests in early-stage, high scalable European start-ups focusing on electrification. This comprises the sectors of renewable energy, electromobility, logistics, cities and buildings, as well as the industrial sector. The Vireo Ventures team, which is currently raising €50 million for the new fund, gains with con|energy a seasoned expert for the energy and mobility transition. Essen-based con|energy has been active in the energy industry for over 25 years and already invests in numerous national and international energy supply and mobility projects.

con|energy CEO Niels Ellwanger is satisfied: "As con|energy, we have accompanied the transformation of the energy markets over the last two decades and therefore see the enormous potential of electrification. Accordingly, this investment was a logical step for us, providing us not only with attractive financial opportunities, but also with access to a network of ambitious young companies."

Vireo Ventures consists of proven industry experts with many years of experience in both the energy industry and venture capital: Felix Krause, Mischa Wetzel, Matthias Engel and Thomas Labryga come from the former venture capital arm of RWE/innogy, while Sven Heiligtag is a former senior partner and leader of the German "Energy & Materials Practice" at McKinsey. Since December 2020, the Vireo Ventures team has already invested in 19 early-stage start-ups via their pre-fund vehicle. In total, the team members have concluded well over 100 company investments within the last 15 years.

“With our long-standing complementary experiences, excellent industry and start-up networks, and hands-on support model, we have a unique positioning - this enables us to deliver superior environmental impact and financial returns”, says Felix Krause, Managing Partner at Vireo Ventures. "We are happy to have con|energy as a high-profile partner on our side and look forward to our further collaboration."

About con|energy ag
con|energy AG has been a partner for the energy industry for over 25 years, playing a key role in projects for the development of the energy, heating and mobility transition. Today, con|energy drives innovation as a strategic partner and investor. With the annual E-world energy & water trade fair which takes place in Essen/Germany, the company offers a European network platform for the industry since 2001.

About Vireo Ventures
Vireo Ventures is a European venture capital firm based in Berlin. The Vireo Electrification Fund I, managed by Vireo Ventures, invests in early-stage start-ups that drive the energy transition through electrification, i.e. from renewable energy generation to smart grids and infrastructure to concrete applications, e.g. in e-mobility, real estate or even industry.

Press contact
Stefanie Hamm
con|energy agentur GmbH
Press and Public Relations
+49 201 1022-400

In the case of publication, we kindly request that a specimen copy is sent to:
con|energy agentur GmbH
Norbertstr. 3-5
45131 Essen

con|energy invests in new 50-million-euro venture capital fund for the energy transition