Energy Revolution Ventures Launches $50 Million Electrification Venture Fund

Energy technology venture capital firm Energy Revolution Ventures (ERV) announced the first close of ERV Fund II, its second fund focused on early-stage electrification technologies.

ERV said that it is targeting $50 million for the new fund, which would surpass the previous fund’s $18 million.

Founded in 2021, London-based ERV invests in early-stage companies developing technologies for electrification and the energy transition, focusing primarily on energy storage, grid technologies and advanced materials, as well as renewable fuels and carbon capture.

According to ERV, the new fund comes as the electrification of transport, heating and industry, alongside the rapid growth of data centers, is accelerating demand for electricity, increasing pressure on the grids, storage systems, and materials needed to generate, move and deliver reliable power.

Marcus Clover, Co-Founding General Partner of ERV, said:

 “Batteries, motors and power electronics, the building blocks of electrification, have each fallen to a fraction of their cost 20 years ago, and I believe the cost of moving things, heating things and making materials will converge on the cost of electrons. As more of the economy electrifies, new markets and industries follow, from storing power to heating homes and even making the fuels and materials the global economy runs on.”

Anchored by a $13.5 million commitment from UK energy and services company Centrica, the new fund will target Seed and Series A rounds in energy storage, grid technology and advanced materials. The companies said that the partnership will support the development of technologies that can accelerate the energy transition.

Chris O’Shea, Group Chief Executive at Centrica, said:

 “ERV’s deep understanding of the innovation taking place across energy storage, transmission and generation aligns closely with our mission to meet the evolving energy needs of homes and businesses.”