News – Venture Capital & Private Equity practice
6 June 2017
Cresco assisted investment partners LRM, the investment company stimulating economic growth in the province of Limburg (Belgium), NUHMA, the Limburg climate company, and ABB Technology Ventures, a division of ABB Switzerland, pioneering technology market leader, in their joint EUR 4.2 million investment in Enervalis.
Enervalis is smart energy promoting company, developing a smart energy software (SmartPowerSuite©), with the aim of reducing energy costs, promoting and optimizing sustainable energy and increasing efficiency in energy usage. The software functions both for direct energy distribution to end-users, as well as at the higher level of network services, covering the entire energy market.
Enervalis, a start-up supported by InnoEnergy Benelux, and ABB already teamed up at the end of 2015 to develop smart grid solutions through a partnership. ABB has confirmed its strong confidence n Enervalis through this direct investment, together with LRM and NUHMA.
The investment will support Enervalis in its continuous research into smart energy platforms, the use of artificial intelligence and efficient energy usage and to drive its international growth. Enervalis strives for a worldwide transition to smart energy services – promoting the next green revolution.
David Dessers, Yannick Verrycke and Laura Rosseel constituted the deal team for this transaction.
More information on this transaction can be found in De Tijd.