Feb 18, 2008 | Amsterdam Nuon launches Nuon Energy Transition Fund
Nuon is launching the Nuon Energy Transition Fund today: an investment fund for energy-related technologies in development. The fund will focus on projects that support either the transition from fossil fuels to alternative energy sources or more efficient energy consumption. The investment fund will start out at EUR 40 million.
With its Energy Transition Fund, Nuon is consciously taking the lead in stimulating technologies that prevent and reduce CO2 emissions in the production of energy.
The investments made from the fund are intended to bring to fruition energy-related technologies and products which have already got past the research phase. These are projects which either increase efficiency in energy consumption or reduce dependence on fossil fuels. Once fully developed, Nuon could put these technologies to use in its business operations or offer them to clients.
Some concrete examples of possible projects in this fund are a high performance boiler based on a fuel cell, the development of offshore wind turbines and the production of advanced photovoltaic cells. IT concepts based on the introduction of the ‘smart meter’ would also come within the scope of the fund.
The Nuon Energy Transition Fund will operate independently of Nuon, with its own management structure and Supervisory Board. The management posts are being filled at the moment. Nuon was assisted in setting up the fund by Allen & Overy.
About Nuon
Nuon is an ambitious energy company, serving 2.6 million consumers and organisations with over 10,000 employees in the Netherlands, Belgium and Germany. Nuon produces, transports and delivers electricity, gas, heating and cooling, and engages in energy trading in the major international markets. Nuon also supplies additional services and technological innovations to businesses and consumers. In doing so, Nuon aims to provide a reliable, sustainable and affordable energy supply.
With a turnover of EUR 5.6 billion in 2006, Nuon occupies a prominent position in the Dutch energy market. The shares are held by local and regional authorities.