It seems oddly fitting to use seed capital for investments in wood. At least, that's what Vestas is doing now, investing in Swedish start-up Modvion, which develops and constructs wooden wind turbine towers. The acquisition is the first one made by investment platform Vestas Ventures, established in November.
"Modvion is a very good fit with Vestas Ventures and the four core areas that we have decided to focus on. It supports our products, it supports our customers, and it supports the general transition towards a greener society delivering not only green power but with a green product," says Vestas Senior Vice President of Innovation & Concepts Bo Svoldgaard.