The first investment of $10 million was made in the Canada-based Chrysalix Clean Energy Fund. Other investment opportunities are reportedly being evaluated.
The Finnish company noted that cleantech funds invest in companies that focus on the development of renewable energy production and solutions enhancing energy efficiency, performance and productivity. A central objective is that these technologies simultaneously reduce energy consumption, the amount of waste produced or emissions.
Chrysalix’s portfolio includes companies developing fuel cell and LED technologies, fusion and solar energy technologies and lithium batteries for use in applications such as electric cars.
Timo Karttinen, senior vice president for corporate development, said: Investing, either directly or through venture capital funds, in companies that develop environmentally friendly energy technologies is an important part of Fortum’s R&D strategy. Our objective is to gain strategic insight into the development of new energy technologies, while expecting sound financial returns.
