EnBW New Ventures

Future Energy Ventures is a unique venture capital platform that brings together corporate partners and world-class start-ups to shape the future energy landscape. Future Energy Ventures is the venture capital investment and collaboration platform of E.ON, one of Europe’s largest operators of energy networks and energy-related infrastructure and a provider of innovative customer solutions for about 50 million customers. Our Vision We believe the future of energy will see multiple sectors converging to deliver decarbonized, digitalized and democratized access to energy. This needs us to all think differently; everything will be interconnected and play a role within a larger energy infrastructure. Electric cars are not just vehicles, they are also mobile batteries; buildings can also be energy generators; homes and businesses can be smart and connected, regulating the energy they use and when. Frontier technologies such as AI and blockchain have a role to play in connecting these producers and consumers of energy together. Creating this new energy future requires bold thinking and will see new players disrupt traditional energy supply chains. Future Energy Ventures exists to drive that transition by investing in the innovative companies that are creating the digital and digitally enabled technologies that have the potential to redefine the future energy landscape, helping these pioneers to build their business and make the connections to accelerate their growth. Future Energy Ventures is born from the energy industry, but it understands energy must converge with other sectors to create a sustainable and prosperous future. This is why we go beyond energy to invest in companies solving problems in cities or building frontier technology. The realization of our ambition relies on collaboration and partnerships; between people and companies from many different industries. Our focus Pioneering the transition to a new energy future built on digital technologies relies on expanding our scope to encompass a wider definition of the future of energy. Energy infrastructure will converge with other infrastructure. Buildings will have photovoltaic panels and turbines to generate energy and store it for times of peak use. Battery technology and other forms of energy storage will be integrated into homes, cities, vehicles and streets, allowing energy to be stored and drawn down from multiple points with the entire city acting as a smart grid and smart energy storage network. We will also see opportunities for existing infrastructure, petrol stations for example, to be reimagined and reused as energy generation, charging and storage hubs for fleets of smart electric vehicles, which in time will be autonomous and driverless. The future will also demand far more energy to power a connected world but that energy will be cheap and abundant as a result of localized, renewable energy production and microgeneration. It will also be smart and controllable, enabling consumers to regulate what they use and when and to sell excess energy back to the grid from the home, office and municipal generation facilities. We condense this extended network of the future of energy into three Focus Areas. Future Energy The energy system will shift to a decarbonized, decentralized and digitally-interconnected system. Digital technologies are the key enabler for this transition and are set to make energy systems around the world more connected, intelligent, efficient, reliable and sustainable. One aspect of this transformation that presents great potential is the ability to break down boundaries between energy and adjacent sectors, increasing flexibility and enabling integration across entire systems. As a result, we believe now is an unprecedented time for attractive investment opportunities, and a call for action for today’s energy industry. Future Cities While cities transform, various kinds of technologies have emerged as a means to improve the quality of life of their citizens. Rapid urbanization however has led mankind to face a number of challenges that must be overcome in mega urban areas. The consequences are far-ranging and incising: freshwater scarcity, mountains of refuse, permanent traffic gridlock and air pollution. How can municipalities master these challenges with their tight budgets? One key solution is smart cities. Smart cities are intelligent and connected cities, contributing to a better quality of life and reduced resource consumption. Future Technologies We believe that the future of cities and energy will be shaped by advances in technology. We will tap into the frontier and deep technologies that promise to shape the future of cities and energy in the years to come, including the fields of AI and Machine Learning, Blockchain and Cyber Security. Who we’re looking for? We focus on investing in start-ups that are transforming the energy ecosystem and pioneering the future of energy. Our sweet spot is digital, scalable and asset-light companies seeking Series A and beyond funding that have shown evidence of a product-market-fit.

The future of energy, beyond energy. Zero emission economies powered by 100% renewable energy. Smart cities, electric vehicles on the streets, large-scale energy storage, smart demand-side management, hyper-customised offers and self-sufficient homes will soon be a reality. Join us in making this new reality possible before the end of the decade. We see five megatrends driving the energy future.Smartgrids & storage: New energy value chains to accelerate the adoption of renewable energy Renewable generation: Cutting-edge technology to reduce renewable generation costs and increase efficiency Client-focused solutions: Next-generation customer experience with a hyper-personalized offer of value-added services beyond energy Digital & data-driven utility: Breakthrough technologies to optimize utilities’ operations and provide a superior service Sustainable mobility: New ways of transportation to increase flexibility and reduce carbon emissions Our unique approach.Invest Financial investment in early and late stage startups looking for strategic support and industrial ecosystem access We invest from 0.1M€ to 2M€ combining two strategies: Early stage: Up to 150k€ to develop an ecosystem of startups offering high added-value services to our utility customers Seed, A series & follow-ons: Tickets from 0.2M€ to 2M€ to fund the winners of each market category Build Design, launch and scale new energy companies together with top entrepreneurial talent We launch one startup per year from scratch focused on strategic business models for Capital Energy Partner Commercial agreements with market-driven startups to foster long-term relationships What makes us different.Deep industry knowledge Access to commercial customer channels Agile and transparent process Ecosystem-driven investment Access to assets and infrastructure About Capital Energy. Capital Energy is a 100% renewable energy utility company leader in promotion of greenfield wind and solar developments in the Iberian market, with the ambition to invest 10,000M€ in the next 5 years to expand along the entire renewable energy value chain: renewable energy generation, storage and commercialization, along with digital value-added services for the end-customer. As a key building block to this ambition, Capital Energy has launched Capital Energy Quantum, a Corporate Venturing vehicle with 20 M€ of initial funding to invest in the future of energy.

WEX Venture Capital invests in early-stage companies focused on electric mobility, including fleet electrification, EV charging solutions, and energy management.WEX Venture Capital invests in early-stage companies focused on electric mobility, including fleet electrification, EV charging solutions, and energy management. Already a trusted advisor to fleet mobility customers, including more than 18 million vehicles serviced globally as of Q2 2023, WEX Venture Capital is focused on leading the commercial EV transition, and helping WEX customers move toward a mixed fleet future. Why partner with WEXAccess to our community of customers and partners WEX’s expertise in fleet mobility and payments Capital investment Why now is the time to engage in the energy transition Facing climate change and fluctuating oil prices, WEX has engaged in the transition toward sustainable energy. A March 2023 Intergovernmental Panel on Climate Change report counsels that it is still possible to hold global warming to relatively safe levels, but accomplishing this will require:

We are all entrepreneurs who have started successful companies to change the world for the better - in one case from zero to over a billion in revenues in less than a decade. We have a true long term view - our fund is an independent evergreen fund, with no end of fund life date, thereby avoiding many of the conflicts typical in the venture industry. Finally, we strive to have a life-long relationship with all our entrepreneurs. Focus First and foremost, our primary goal is to help entrepreneurs achieve their goals in a socially and environmentally responsible manner. While we can invest at any stage, from early to expansion to late stage growth, we’d prefer to get to know you and your vision - and how we can help - early. We can invest as little as one million dollars to as much as ten million in a single company. Currently, we are interested in software companies that can apply innovations in IoT, Big Data, and Security technology, to drive meaningful disruptions in energy and infrastructure sustainability, and establish clear category dominance and leadership. Ecosystem We have a diverse ecosystem of people and partners that can help. This might include partnering opportunities, customer opportunities, company scaling and team building advice, and strategy development. Please talk to us about how we can help you and your business grow. Unconcerns With an independent, evergreen fund, we're unconcerned with structural issues that lead to entrepreneur-unfriendly activity at most venture firms today. Our "unconcerns" include timing out, the next fundraise, and arbitrary investment constraints, enabling us to be structurally aligned with our entrepreneurs' best interests. Timing out Venture Today. Most funds operate on a 10-year timeframe, after which holdings in portfolio companies are liquidated and distributed to LPs. This means that when a fund is close to timing out, investors can push for a premature exit - even if that goes against an entrepreneurs' long-term vision. How We’re Different. Our fund is an independent, evergreen fund with no end-of-fund-life. The next fundraise Venture Today. Once an investment is made, the capital deployed is gone for good. This means that investors are under constant pressure to raise the next fund, which often leads to entrepreneur-unfriendly behavior that optimizes fundraising. How We’re Different. We recycle most of our proceeds back into the fund, thereby eliminating the need to fundraise. Arbitrary investment constraints Venture Today. Constraints on fund strategy are usually set when VCs market their funds to LPs. These typically include limitations on stage (Seed / Series A only), arbitrary ownership targets (at least 20% ownership), and control (board seat required). How We're Different. We're flexible as to investment stage, ownership targets, and board representation. We only care about partnering with category leaders.

We are backing pioneering businesses during their early-growth stage and get excited about solutions driving the systemic change of how energy is generated, distributed, stored, and consumed 🚀⚡

We collaborate with customers and partners to enable energy efficiency and power a sustainable future for society with our products, solutions and digital technologies.