Iberdrola

Iberdrola, a global energy leader headquartered in Bilbao, Spain, operates a dedicated corporate venture capital program known as PERSEO. Launched in 2008, PERSEO serves as Iberdrola's strategic investment vehicle, focusing on startups and technologies that drive the sustainability and transformation of the energy sector. Its mission is to identify and support innovative solutions across the entire energy value chain, from generation to consumption, aligning with Iberdrola's broader commitment to decarbonization and digitalization.

PERSEO's investment scope is broad, encompassing critical areas such as renewable energy technologies, smart grids, energy storage solutions, electric mobility, green hydrogen, advanced digitalization, cybersecurity, and the circular economy. Since its inception, the program has demonstrated a significant commitment to fostering innovation, having invested over €170 million in pioneering startups. This substantial capital deployment has enabled PERSEO to build a diverse portfolio of more than 40 companies globally, contributing to the development of next-generation energy solutions. In addition to direct investments, Iberdrola also leverages initiatives like the PERSEO Venture Builder, launched in 2021, to co-create and accelerate new business models.

Iberdrola's PERSEO program typically targets early to growth-stage companies, with initial cheque sizes ranging from approximately €1 million to €5 million. This flexible approach allows them to engage with promising ventures at various stages of their development, providing not only capital but also strategic support and access to Iberdrola's extensive industry expertise and infrastructure. While initial investments fall within this range, PERSEO has the capacity to participate in larger follow-on rounds, potentially investing €10 million or more in companies that demonstrate significant growth and strategic alignment. Their engagement often extends beyond mere funding, involving collaboration on pilot projects and market access, thereby accelerating the commercialization of innovative energy technologies.