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The corporate venture capital arm of Vestas, Vestas Ventures, have made a new investment in Modvion through a recent directed share issue to strengthen its engagement and support to Modvion.
Vestas Ventures made its first investment in Modvion in February 2021. Vestas has expressed interest in exploring the use of Modvion’s technology in its product line as part of its efforts to support customers in delivering more sustainable energy solutions. Vestas’ new investment will support Modvion’s production scale-up, with a long-term goal of integrating wooden towers in Vestas’ offerings to accelerate market adoption.
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