Green transition, the long march to 2050

Energy

A2A accelerates in venture capital. Anchor investor for 40 million to support start-ups

360 Capital announces the first closing of the climate tech fund 360 Life II for EUR 140 million. An operation that sees the company led by Renato Mazzoncini at its side, which for the past four years has been focusing on start-ups that have always been considered a strategic factor in the ecological transition through the Cvc programme.

by Laura Bonadies

23 December 2024

3' min read

Translated by AI

Versione italiana

3' min read

Translated by AI

Versione italiana

(Il Sole 24 Ore Radiocor) - 360 Capital, the European venture capital management company, announces the first closing of the climate tech fund 360 Life II at EUR 140 million, which expects to reach the target of EUR 200 million by involving important industrial partners and institutional investors. Among these is A2A which, as anchor investor and industrial partner, has earmarked EUR 40 million, continuing the path initiated with the launch of 360 Life I in 2020, in which it was the sole investor with an endowment of EUR 25 million. It is an operation that expands the investment programme of the group led by Renato Mazzoncini for new technologies focused on the circular economy and energy transition.

In addition to A2A, Cdp Venture Capital is participating through the International Fund of Funds and the Green Transition Fund - Pnrr, which has subscribed as financial anchor investor a total of 44 million euro for the creation of the new fund; and De Nora with a share of 10 million. Bpifrance is an institutional partner in the transaction.

Mazzoncini, further boost for start-ups

"With this operation A2A positions itself as a leader in Italia in Corporate Venture Capital dedicated to climate tech: our Cvc programme counts about 80 million and six funds that have invested in over 60 Italian and European startups," explains Renato Mazzoncini, A2A CEO. "Innovation is indispensable for the growth of companies, as highlighted also by the recent Report on the future of European competitiveness presented byMario Draghi to the EU Commission. For our group, it is a strategic guiding factor across all our businesses, together with decarbonisation and energy autonomy. OurIndustrial Plan targets 2035 and to realise it effectively, it is necessary to always have in mind the technological evolution in which to invest. This new fund will give further impetus to start-ups in realising projects capable of making a concrete contribution to the country's ecological transition process, which A2A is committed to supporting".

In detail, 360 Life II aims to invest inEuropean Series A and B start-ups focused on three key areas: energy transition (with innovations related to

e.g. renewable energy, energy storage), circular economy

(waste and water management, protection of biodiversity) and

urban sustainability (pollution reduction, smart infrastructure). With the investment in 360 Life II, A2A confirms its collaboration with 360 Capital and strengthens its role as a key player in the Italia and European innovation ecosystem, aiming to support new start-ups in the climate tech field, in line with the objectives of the 2035 Industrial Plan aimed at ecological transition as a choice for sustainable competitiveness.

A2A, innovation strategic lever of the business plan to 2035

For A2A, innovation is not only a transversal element of its business, but is also an enabling factor for decarbonisation and energy autonomy, objectives of its Industrial Plan to 2035. It is a concept that is fully in line with the guidelines contained in the report on the future of European competitiveness presented by Mario Draghi to the EU Commission, according to which technological evolution is essential for maintaining economic and industrial competitiveness.

Through its Corporate Venture Capital (Cvc) programme, the group positions itself as a leader in Italia in investments in start-ups in the climate tech sector, supporting concrete projects that accelerate the country's ecological transition and decarbonisation.

The Cvc programme has a total endowment of around 80 million euros spread across six venture capital funds, through which A2A has already invested in more than 60 Italian and European start-ups that have contributed to the creation of new jobs both in Italia and in Europe. A2A launched the Cvc programme in 2020 with the aim of investing in early-stage start-ups focused on the energy transition and the circular economy in order to foster innovation through industrial synergies between its portfolio companies and the Group's businesses.

The initiative began with 360Life I, a dedicated 25 million euro fund in partnership with 360 Capital, in which A2A was the sole investor, and through which it invested in eight Italian and European start-ups. Subsequently, A2A expanded its strategy by investing in technology transfer funds aimed at supporting spin-outs from Italian research centres and universities focused on sustainability, deep-tech and advanced materials, managed by leading operators in the sector such as 360 Capital, Cdp Venture Capital - Fondo Nazionale Innovazione and Eureka Sgr.

Laura Bonadies
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