"Investment giant PGGM pumps €19 million into energy adaptability company Sympower"
In a significant move towards sustainable energy, Dutch pension fund manager PGGM has invested €19 million in energy flexibility services provider Sympower. This investment is part of PFWZ's energy transition mandate, under which €1 billion will be allocated over the next five years.
Sympower, a company that manages more than 2.7 gigawatt of flexible distributed energy assets in Europe, aims to build a more sustainable and resilient energy system. The investment by PGGM brings Sympower's Series B funding round to a total of €42 million, following a €42 million commitment from the European Investment Bank in its latest funding round.
The venture, which focuses on climate and agri-tech, has also received backing from impact investors including A&G Energy Transition Tech Fund, Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital. PGGM will take a seat on Sympower's supervisory board to boost its corporate governance and provide guidance on growth plans.
Simon Bushell, founder and CEO of Sympower, stated that PGGM's long-term, impact-driven investment approach aligns with Sympower's mission. This investment is a vote of confidence from one of Europe's most respected institutional investors.
Recently, Sympower announced it would expand some of its services in Greece. The details of a potential impact venture in Greenland and its investors were not specified in the article.
Meanwhile, the Impact Investing Institute and Save the Children have thrown focus on child-lens investing, emphasising the importance of considering the impact of investments on children's wellbeing and future.
On a broader scale, multilateral development banks (MDBs) delivered $137 billion in climate finance in 2024, according to a report. This significant investment is a testament to the growing global commitment towards a sustainable future.
In conclusion, PGGM's investment in Sympower marks a significant step forward in the transition to a sustainable and resilient energy system. It also underscores the increasing importance of impact investing in shaping a better future for all.
Read also:
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
- Budget discrepancy jeopardizes highway projects' financial support
- Racing ahead in Renewable Energy Dominance: Changzhou, Jiangsu Pushes for Worldwide Renewable Energy Ascendancy
- Public remains oblivious to potential hazards at gas export facilities, due to confidentiality surrounding their operations
