Verbund has committed to fostering innovation in the energy sector through a strategic external fund investment. Verbund X Ventures is now among the largest strategic investors in Vireo Ventures, alongside European Investment Fund and EnBW Ventures.
Based in Berlin, Vireo Ventures backs early-stage startups across Europe, focusing on pre-seed and seed investments at the forefront of the energy and mobility transition. The fund’s impact-driven portfolio includes scalable digital solutions in the areas of energy supply, mobility, transport, buildings and industry. From AI-based heating management to open-source EV charging solutions, Vireo Ventures prioritises solutions that accelerate the electrification and decarbonisation of energy systems.
“This investment underscores our efforts to contribute to meeting the climate goals” said Michael Strugl, CEO of Verbund AG. “For Verbund AG, partnering with Vireo Ventures represents a strategic opportunity to drive the energy transformation while leveraging corporate venture capital to identify and support cutting-edge technologies.”
Vireo Ventures launched its first 50 million euro fund in 2023 and its portfolio currently includes companies such as Eco2Grow, which aids industrial SMEs in adopting renewable energy; Green Fusion, a provider of AI-based heating management; and Pionix, an open-source EV charging solution.
As Europe faces geopolitical challenges, rising energy costs, and intensifying global competition, investments in climate tech have become more critical than ever. Electrification startups alone have attracted 62 percent of all climatetech venture funding between 2019 and 2024, according to a recent report by Dealroom and SAP.
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