PR95335

SINGAPORE, April 12, 2022 /PRNewswire=KYODO JBN/ --

Nuventura aims to help reduce the use of the highly potent greenhouse gas, SF6,

amid global growth and the continued acceleration of climate action.

Nuventura, the Berlin-based developer of switchgear technologies that help

eliminate Sulphur Hexafluoride (SF6) – the world's strongest greenhouse gas –

is pleased to reveal that ADB Ventures(https://ventures.adb.org/) (the Asian

Development Bank's venture arm) participated in a second closing of nuventura's

seed investment round in 2021. ADB Ventures joined existing investors,

including Cycle Group, Future Energy Ventures, Doen Participaties, IBB

Ventures, and several well-known investors. Collaborating with ADB will help

nuventura make important steps toward the product's industrialization and

expansion into Asian markets.

Nuventura develops medium voltage (MV) gas-insulated switchgear (GIS),

replacing SF6 with dry air. Through this patented technology, the company's

goal is to help tackle annual SF6 emissions, equivalent to the yearly CO2

emissions produced by approximately 100 million

cars(https://energypost.eu/grid-switchgear-uses-sf6-the-worlds-most-potent-green

house-gas-how-do-we-regulate-it/).

Instead of acting as manufacturers, nuventura makes it possible for established

switchgear manufacturers to expand their own product portfolios with SF6-free

GIS technologies. The company does this by either selling key components to

manufacturers which then get incorporated into own their switchgear designs, or

licensing the full technology. This highly scalable business model ensures that

nuventura's customers gain access to state-of-the-art GIS technologies while

avoiding the prohibitively high R&D costs associated with developing their own

new GIS technologies.

Commenting on the investment from ADB Ventures, Manjunath Ramesh, nuventura's

CTO and Co-Founder, said: "we are delighted to welcome ADB as one of our

investors and strong supporters. We believe that ADB will be a vitally

important partner as we actively expand our focus to Asian markets. Asia is a

very attractive market environment, offers large opportunities for growth, and

has shown a growing appetite for sustainable solutions. Nuventura, with ADB's

support, will be at the forefront of making the Asian energy transition

SF6-free."      

"Nuventura has developed a game-changing solution with clear benefits to both

grid operators and climate. We believe that the company's proprietary tech and

unique licensing model will put it in a very competitive position in a growing

$26bn market while leading the transition towards a more environmentally

sustainable electrical grid infrastructure," said Qiyong Cao, Senior Investment

Specialist at ADB Ventures.

Media Contact

Nicholas Ottersbach, nicholas.ottersbach@nuventura.com

SOURCE:  Nuventura