BRUSSELS – BERLIN | Elia Group invests €12.5 million in SET Fund IV, a €200 million international venture capital fund managed by SET Ventures. This capital will be invested progressively over the next 4 years in European start-ups that are developing digital technologies and services and are mature enough to be scaled up.
By participating in SET Fund IV, Elia Group aims to identify innovative companies that help accelerate the digitalisation of the electricity system via data-driven solutions. Unlocking more flexibility across the system.
Monitoring 2500 European start-ups
This is the first time that Elia Group is participating in a venture capital fund. The investment is being carried out by the holding company and is therefore separate from the Group’s regulated activities (which are covered by consumer electricity bills). By collaborating with promising start-ups, Elia Group will stay up to date with the latest trends and innovations.
As a leader in the field of digital energy innovation, SET Ventures actively monitors European start-up companies. SET look at relevant sub-sectors such as distributed energy systems, flexibility, energy efficiency and electric vehicle charging. SET’s fund is focusing on growth companies that have proven their technology or services and now seek to scale up.
“We are entering SET’s fund to gain access to an ecosystem of European start-ups which are working on the digitalisation of energy. New digital technologies and services help us to align our electricity consumption with the increased production of renewable energy, which varies greatly. Using electricity at the right time means it’s cheaper. Digitalisation makes our system management more efficient, and adds security to our country’s supply.” – Catherine Vandenborre, Interim CEO of Elia Group
“As a significant investor in our fund, Elia Group has established a close working relationship with SET Ventures.” Together, we exchange valuable insights about critical developments and innovation requirements in the sector. SET is glad to partner with Elia Group to support the next generation of European entrepreneurs. Together we will shape a carbon-free energy system.” – Anton Arts, a Managing Partner of SET Ventures
Other participants in the fund include the European Investment Fund, ABN Amro, Triodos Bank, a.s.r., Carbon Equity and private (family) investment funds.
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About Elia Group
One of Europe’s top five TSOs
Elia Group is a key player in electricity transmission. We ensure that production and consumption are balanced around the clock, supplying 30 million end users with electricity. Through our subsidiaries in Belgium (Elia) and the north and east of Germany (50Hertz), we operate 19,460.5 km of high-voltage connections, meaning that we are one of Europe’s top 5 transmission system operators. With a reliability level of 99.99%, we provide society with a robust power grid, which is important for socioeconomic prosperity. We also aspire to be a catalyst for a successful energy transition, helping to establish a reliable, sustainable and affordable energy system.
For further information, please contact:
Investor Relations
Yannick Dekoninck | M +32 478 90 13 16 | [email protected]
Stéphanie Luyten | M +32 467 05 44 95 | [email protected]
Corporate Communication
Marleen Vanhecke | M +32 486 49 01 09 | [email protected]
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