Verbund X Ventures, the Corporate VC arm of Austria's leading energy group VERBUND, has partnered with Vireo Ventures, an early-stage VC firm focused on the energy sector. The partnership is united by a shared vision of innovation and electrification in shaping the future energy system.
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With Verbund X on board, Vireo Ventures now partners with four major European utility companies — a clear sign of recognition of the role venture capital plays in advancing the energy transition.
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The network of strategic partners also includes European Investment Fund (EIF) and EnBW New Ventures. All of the firms share the mission of driving the energy transition forward.
“Vireo’s focus on early-stage energy tech startups in Europe fits seamlessly with our strategy. Their experienced team, with a strong track record, opens the door to top-tier deal flow while creating valuable synergies through shared expertise and co-investment opportunities. Together, we can identify and scale innovative technologies to make a meaningful impact on the energy transition,” Franz Zöchbauer, Managing Director of VERBUND X, comments.
About Verbund X Ventures
Verbund, Austria's leading electricity provider and a major European hydroelectric producer, launched the fund in 2022 as part of its corporate strategy. It invests in early-stage renewable energy companies across Europe. In September 2024, the fund led a €3M investment round for Ogre AI, a Romanian energy tech startup.
