Venturing into the Energy Revolution: From Hydrogen Drones to Investment Funds
Key Ideas
- ERV, founded by a former hydrogen-powered drone engineer turned venture capitalist, has closed an $18 million fund to invest in energy technologies, including hydrogen.
- The fund includes LPs from various sectors and has a portfolio of nine companies, focusing on areas such as lithium-ion battery recycling and low-cost renewable hydrogen.
- ERV not only invests in startups but also creates new ventures through its venture builder, Prosemino, leveraging in-house technical expertise and specialized laboratories.
- The firm's strategy is centered around the belief that significant innovation in chemistry, particularly in energy-related fields, is on the horizon, leading to a transformative rewiring of the economy.
Energy Revolution Ventures (ERV), a venture capital firm based in London, founded by Marcus Clover, a former hydrogen-powered drone engineer, has successfully closed an $18 million seed and Series A fund. The fund aims to invest in deep tech sectors, including energy storage, carbon capture, and hydrogen technologies. Clover's background in engineering, initially working on hydrogen-powered drones and later on hydrogen fuel cells for vehicles, has driven his interest in investing in energy innovation.
ERV's 2023 vintage fund has attracted investors from family offices, high-net-worth individuals, and corporate venture capital entities such as Bidra Innovation Ventures. The firm has a diverse portfolio of nine companies, ranging from Green Li-ion for lithium-ion battery recycling to Oort Energy for low-cost renewable hydrogen solutions.
In addition to traditional investing, ERV operates a venture builder, Prosemino, to create new ventures leveraging its technical expertise and specialized laboratories. The firm's strategic focus is on anticipating upcoming innovations in chemistry, especially in the energy domain, to catalyze a profound transformation in the economy through decarbonization and electrification.
Marcus Clover emphasizes the importance of not only electrical generation but also the storage and transmission of power to drive electrification across various sectors of the economy. He draws parallels between the advancements in software that revolutionized space technology and the potential for similar advancements in the energy sector. ERV is positioned to play a key role in the evolving energy landscape, aiming to drive significant technological advancements and reshape the energy economy.
Topics
Investing
Innovation
Energy Storage
Venture Capital
Carbon Capture
Chemistry
Startups
Investment Fund
Deep Tech
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