Iberdrola invests in GED TECH Seed to support Portuguese entrepreneurs and startups
Iberdrola Renováveis Portugal has recently invested in GED TECH Seed, a fund dedicated to Portuguese startups with scalable business models and growth potential. Over the fund's investment period, it plans to make between 25 and 35 investments in domestic startups, with more than 3,000 opportunities identified in highly innovative technology projects with a special focus on promoting sustainability (ESG).
This investment is a further step in Iberdrola's commitment to support startups. Iberdrola's commitment to a sustainable energy model is part of the PERSEO programme, an initiative that aims to foster the development of startups and innovative industrial companies working in new areas of electrification and in sectors that are difficult to decarbonise.
"At Iberdrola, in recent years and in projects currently under construction, we have invested more than 2.5 billion euros in renewable energies in Portugal. With this investment in GED Tech Seed, we intend to take another step forward in our commitment to the country and its entrepreneurial fabric, supporting innovative technology startups that promote sustainability", underlines David Rivera Pantoja, Country Manager of Iberdrola in Portugal.
Joaquim Hierro, Managing Partner of GED, said: "Iberdrola Renováveis Portugal's investment in GED Tech Seed represents an important step forward in promoting innovation and sustainability in the Portuguese technology ecosystem. With this fund, which already has 11 operations, we are committed to investing with purpose in transformative technology startups. This partnership with Iberdrola exemplifies our commitment to fostering innovation and strategic collaboration".
Since the creation of the PERSEO programme in 2008, Iberdrola has invested more than 175 million euros in companies that develop innovative technologies, improving the sustainability of the energy sector, driving greater electrification and decarbonisation of the economy.
