Tech

Iberdrola invests in GED TECH Seed to support Portuguese entrepreneurs and startups

Iberdrola Renewables Portugal recently invested in GED TECH Seed, a fund focused on Portuguese startups with scalable business models and growth potential. Over the fund's investment period, more than 3,000 opportunities have been identified in highly innovative technology projects, with a special focus on promoting sustainability (ESG), and approximately 25-35 investments have been made in domestic startups. It is planned to do this.

This investment is another step in Iberdrola's commitment to supporting start-up companies and sustainable energy models as part of the PERSEO program. This program is an initiative aimed at promoting the development of start-up companies and innovative industrial companies working in new fields of electrification or fields that are difficult to electrify. Decarbonize.

“In recent years and with projects currently under construction, Iberdrola has invested more than $2.5 billion in renewable energy in Portugal. With this investment in GED Tech Seed, we are further investing in this country and its entrepreneurial spirit. We are taking a new step in our efforts to support innovative technology start-ups that advance sustainability,” emphasizes David Rivera Pantoja, Iberdrola Country Manager for Portugal.

Joaquim Hierro, Managing Partner of GED, said: “Iberdrola Renewables Portugal's investment in GED Tech Seed represents an important step forward in promoting innovation and sustainability in Portugal's technology ecosystem. With this fund, which already has 11 businesses, we are committed to investing.” “We aim to be an innovative technology startup. This partnership with Iberdrola embodies our commitment to fostering innovation and strategic collaboration.”

Since the creation of the PERSEO program in 2008, Iberdrola has awarded more than $175 million to companies that develop innovative technologies, improve sustainability in the energy sector, and facilitate large-scale electrification and decarbonization of the economy. has invested.

Sources

1/ https://Google.com/

2/ https://www.iberdrola.com/press-room/news/detail/iberdrola-invests-in-GED-TECH-Seed-to-support-portuguese-entrepreneurs-and-startups

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