Impact investing provider ecoligo , a leader in revolutionizing the energy landscape in emerging markets , has successfully closed its € 10 million Series A funding round . New investor is FRV - X , a venture division of Fotowatio Renewable Ventures ( FRV ) , a world leader in the developing of sustainable energy solutions and part of Abdul Latif Jameel Energy .
FRV grow and operates renewable energy projects worldwide and seeks to go along lead the globose conversion to a more sustainable energy time to come . FRV has evolve from being a developer to becoming an independent king manufacturer ( IPP ) , shoot for to be the humans ’s leading green energy infrastructure program . With this investment , FRV is expanding its portfolio to let in the commercial and industrial client segments through ecoligo ’s work . So far , FRV has a word of mouth of more than 10 GW around five continents , including PV Plants , Wind , BESS , Hybrid , and Green Hydrogen , and every class aid to avoid more than 1 million tonnes of CO₂ being released into the standard pressure .
FRV - X and ecoligo purchase synergies to descale sustainable vigour together“With its focus on commercial and industrial deftness , ecoligo perfectly complements our activities in the field of bombastic - scale of measurement solar farm , ” tot up Felipe Hernandez , Chief Innovation Officer at FRV - X. “ Our investment in ecoligo is sustainable in two ways , not only in term of onsite immature DOE yield but also the democratisation of the investiture in renewable plus , giving way to the small investor to take an active role supporting the emerging economies vim transition . The company has proven uninterrupted turn capacity , thanks to the strong development capacity and consignment with the retail investors , which is a sign of long - term success as well as high resilience . ”
Fady Jameel , Deputy President and Vice Chairman of Abdul Latif Jameel , articulate : “ Our investment funds in ecoligo comes in line with our commitment to indorse innovative occupation models in the renewable Energy Department sector whilst still delivering a confirming impact . Both FRV - X and ecoligo share the same visual sense of democratize the energy passage and creating a clean future for people around the world , and in exceptional , those in the global south . We will retain to face for opportunity to make impingement - driven investiture that tolerate our try in initiating , driving , and maintain the unripened energy transition . ”
ecoligo will expend the investment sum to continue to produce sustainably , to inflate existing markets , and effectively drive forward the ball-shaped energy transition .
In accession , ecoligo intends to further develop its digital shock invest platform and bid the opportunity to empower in its projects in more countries . Martin Baart , CEO of ecoligo GmbH , adds : “ With FRV - X , we have found the sodding partner to enable even more companies in emerge markets to access clean energy . Through the alignment , we will not only be able to grow even more but offer more the great unwashed the chance to put up to the world-wide energy passage through private investment . ”
For more information : ecoligoecoligo.com
