Statoil has launched a new venture capital fund dedicated to investing in attractive and ambitious growth companies in renewable energy. The new fund, Statoil Energy Ventures, will invest up to US$ 200 million over a period of four to seven years.
The fund is established as part of Statoil’s new business area New Energy Solutions, reflecting the company’s aspirations to gradually complement its oil and gas portfolio with profitable renewable energy and low-carbon solutions. Potential investment themes include offshore and onshore wind, solar energy, energy storage, transportation, energy efficiency and smart grids. The team initially consists of six investment professionals operating with a global mandate, initially based out of Statoil’s offices in London and Oslo.