British VC Sees Opportunity in Europe’s Efficiency and Smart Grid Sectors

Encouraged by what it sees as a pick up in the European economy and greater availability of debt funding, London-based VC firm Scottish Equity Partners plans to invest more than $100 million into clean energy and efficiency companies, such as in low-power lighting and smart-grid sectors, says Bloomberg.

The $300 million fund avoids investing in capitalintensive renewable energy, such as in wind power, according to Gary Le Sueur, a partner at the VC firm.

The U.K. government recently put in place mandatory efficiency measures, such as lowpower lighting and insulation, to curb energy use and waste from buildings, according to Bloomberg.

“Energy efficiency makes sense from a commercial, economic and environmental perspective,” Le Sueur said. “We’re just at the beginning of the journey greening-up the housing and commercial building stock in the U.K. There is a long way to go.”

Scottish Equity also has a $140 million Environmental Energies Fund with SSE Plc which has invested in companies such as Aquamarine Power Ltd., a wave technology developer; Solar Century Holdings Ltd., a solar panel business; and Green Highland Renewables Ltd., a small-hydropower company.

Earlier this month, Scottish Equity Partners invested $10 million into email marketing firm Pure360.

To read the entire Bloomberg article cited in this story, click here.

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