FRANKFURT, Oct 5 (Reuters) - German energy equipment supplier Siemens Energy ENR1n.DE and EU-backed fund EIT InnoEnergy will team up to jointly explore investments in the energy start-up space, the fund said in a statement.
No financial details were disclosed. "Bringing together the disruptive thinking and innovations from cleantech start-ups and the global network and large-scale industrialization capabilities of Siemens Energy will create new value for our customers," Siemens Energy board member Vinod Philip said.
EIT InnoEnergy has already invested 690 million euros ($688 million) and holds stakes in Swedish battery cell maker Northvolt, steel venture H2 Green Steel, and lithium miner Vulcan Energy Resources (VUL) .
Supported by the EU's European Institute of Innovation and Technology (EIT), EIT InnoEnergy helps to funds start-ups and companies active in the area of energy transition away from fossil fuels. ($1 = 1.0031 euros)
News: VUL Siemens Energy teams up with EU-backed fund for cleantech investments
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