VERBUND X Ventures invests in Vireo Ventures

New partnership for the energy transition: VERBUND X Ventures participates in the venture capital fund Vireo Ventures and focuses on early-stage start-ups with a focus on electrification and digitalization.

Vienna/Berlin, February 11, 2025 - VERBUND X Ventures, the corporate venture capital unit of Austrian energy supplier VERBUND, is investing in the Berlin-based electrification fund Vireo Ventures. The investment is intended to promote innovative technologies in the field of electrification and digitalization and thus accelerate the energy transition in Europe.

Strategic partnership for the energy transition

The investment makes VERBUND X Ventures one of the largest strategic investors in Vireo Ventures alongside the European Investment Fund and EnBW Ventures. The fund focuses on pre-seed and seed start-ups that develop digital and scalable solutions in the fields of energy, mobility, buildings and industry.

This investment underlines our efforts to actively support climate targets. We want to identify and promote pioneering technologies through corporate venture capital

Michael Strugl, CEO of VERBUND AG.

Technology as a driver of decarbonization

Vireo Ventures manages a EUR 50 million fund and has already added start-ups such as Eco2Grow, Green Fusion and PIONIX to its portfolio. These companies develop solutions for renewable energies, AI-supported heating management and open source technologies for e-charging infrastructures.

Vireo's team has an impressive track record and gives us access to a first-class deal flow. Together we can promote promising technologies in a targeted manner.

Franz Zöchbauer, Managing Director of VERBUND X Ventures

Investments in climate tech to secure the future

The decarbonization of the energy sector is crucial for Europe's future security - after all, electricity, fuels and heat account for 70% of global CO₂ emissions. According to a report by Dealroom and SAP, around 62% of climate tech venture capital investments between 2019 and 2024 went towards electrification.