Siemens Venture Capital (SVC), a subsidiary of Siemens (NYSE: SI), has acquired a "minority" stake in Transparent
Energy Systems.
Financial terms of the deal were not disclosed.
Transparent Energy Systems is a
provider of waste heat recovery systems. The company will use the new capital to
expand operations.
Transparent Energy Systems is the twelfth company in the area
of energy and environmental technologies in which SVC has invested. The acquisition of this stake
boosts to above 30% the share of companies in SVC’s portfolio that are active in
environmental technologies.
Siemens AG generates roughly a quarter of its revenue–EUR 19 billion
in fiscal 2008–with products from the company’s Environmental Portfolio.
Siemens Venture Capital (SVC), the central venture capital organization within Siemens, invests in early-stage technology companies and established growth companies, focusing on the energy, industry and healthcare sectors. In this way,
SVC identifies innovative solutions from which Siemens can profit and plays a key role in Siemens’ global innovation
network. To date, the company has invested more than EUR 800 mn in over 150 companies and 40 venture capital
funds.
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