Vestas invests in electrolysis startup

An Australian startup claiming 95% electrolysis efficiency attracts investment of AUD 42.5m from several players, including the Danish OEM’s venture unit.

BY MAZ PLECHINGER, TRANSLATED BY DANIEL FRANK CHRISTENSEN

Since Vestas Ventures launched in late 2020, the Danish manufacturer’s investment platform has been scouting for opportunities to fund startups and growth businesses closer to home. Beyond Swedish battery maker Northvolt, the OEM has injected capital into Modvion, making wind turbine towers out of plywood, as well as crane producer S&L Access Systems. Now the group’s venture business is expanding its geographical horizon to the other side of world.

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