Published on Thursday, 19 January 2012 18:48
Gamesa is branching out into another low-carbon technology market with the acquisition of a 20 percent stake in Spanish tech startup N2S for ventures into green mobility and energy efficiency.
N2S, founded in 2006, is into electric vehicle charging and real-time energy management.
"Gamesa's international presence and manufacturing capability enhance N2S' strategic position and give us access to the resources we need to capitalize on the enormous opportunities posed by the digitalization of electricity consumption, as well as to fuel our international expansion," said N2S chief executive officer, Pablo Fern'andez de la Torre.
Gamesa and N2S will develop products for the electric vehicle market using Gamesa's experience in designing charging stations for EV's, and N2S's intelligent charging management platform.
The two companies also see opportunities in energy efficiency technologies, with N2S having developed a system for managing energy usage in real time, which can be employed in Gamesa's energy audit services.
This is Gamesa Venture Capital's third deal in the area of off-grid solutions. The company has acquired interests in two U.S.-based ventures SkyBuild Power and Worldwater & Solar Technologies.
Through their investment fund Gamesa Venture Capital, the wind power company is investing up to 50 million euros ($64.5 million) through 2016, said to be a technological diversification strategy which involves acquiring shares in promising startups and renewables industry ventures. – Katrice R. Jalbuena