The fund invests in highly scalable technologies with outsized financial prospects, solving the hardest problems in energy across energy storage, carbon capture, utilisation and storage, and the renewable fuels and hydrogen value chain. The goal is to back category-defining innovators which will completely transform the way we produce, distribute and consume power.

The fund is a 2023 vintage and is supported by a variety of Limited Partners, including a network of family offices from the metals and energy sector, high-net-worth individuals, and Bidra Innovation Ventures, the corporate venture capital arm of Morocco’s OCP Group. ERV has already invested in nine companies, including Green Li-ion (lithium-ion battery recycling), Anthro (structural, safe batteries), and Oort Energy (low-cost renewable H₂).

“Plummeting renewable energy costs are driving one of the most profound economic transformations of the last 200 years,” said Marcus Clover, Co-Founder and Partner at ERV. “Energy has always been at the core of human prosperity, and the path to an energy-abundant future lies in electrification. We are energy tech specialists and aim to be the technical investor of choice for innovators. With ERV Fund I, the companies we’ve already backed are commercialising innovations critical to this transition, and we are grateful for the trust and partnership of the founders and our investors.”

ERV’s venture fund, together with its sister company Prosemino, a venture builder, is dedicated to identifying and supporting deeptech innovations and founders. Together, ERV and Prosemino offer unparalleled in-house technical expertise, including some of the most published professors in Europe from the University of Oxford and University College London, expert engineers, and seven PhDs, alongside 4,000 sq ft of specialist laboratories (the only ones of their kind in Europe). This integrated model delivers deal flow – the fund has already backed two Prosemino graduates – and enables ERV to leverage its global network and technical expertise to identify and back the best innovators worldwide, bridging the gap from groundbreaking science to commercialisation.

Charlotta Holmquist, President and Co-Founder of Blixt, said: “There is no other VC firm like ERV – uniquely blending a wealth of experience in investment and capital markets, with a deep, technical understanding of science and engineering. This gives them the ability to very quickly assess technologies as well as business models and identify those breakthrough technologies which can really make a difference to our planet’s future. Their decades of experience and strong global connections have opened doors to valuable commercial partnerships and investment opportunities. This involvement has been key to our growth, and we highly recommend ERV to any company looking for an investor who adds genuine value at every stage.”

ERV Fund 1 investments

To date ERV Fund 1 has made nine investments advancing the electrification of society. These are:

Green Li-ion – provider of lithium-ion battery recycling technology addressing the key long-term environmental challenge for battery technology: how to recycle lithium-ion batteries. ERV led the Series A round powering the US expansion plans and Green Li-ion has raised further pre-Series B funding at an approximate 300% valuation uplift.

Anthro – developing novel lithium-ion battery designs and chemistries for consumer products to accelerate the electrification of the global economy. Since ERV’s investment, Anthro has been awarded a $25 million grant by the US Department of Energy (DOE).

Blixt – developers of software-enabled power electronics, reducing battery complexity and cost whilst boosting efficiencies.

Divigas – developing novel hydrogen and CO₂ separation technologies to recycle waste hydrogen and capture carbon.

Ecolectro – innovators of novel polymers designed for the next generation of electrolysers in the hydrogen industry.

Immaterial – creators of cheap and durable Metal-Organic Frameworks (MOFs) designed for carbon capture, gas separation and purification purposes.

Oort Energy – delivering low-cost, high-efficiency hydrogen electrolysers, providing a practical and economic alternative to fossil-fuel generated hydrogen.

Quino Energy – creators of cost effective, non-toxic, drop-in flow battery technologies for grid energy storage.

Sention Technologies – offering an advanced cell intelligence platform to optimise the battery value chain.

Commenting on the announcement, Peter Robson, Managing Director Fund I of ERV, said: “Our investors cite three reasons for investing: our exceptional blend of technical, engineering and academic leadership, backed by commercial strength; our diligence to identify the right companies to back, and a commitment to be the technical partner of choice to founders. Building on the success of Fund I, we are positioned at the forefront of the next technological frontier and are accelerating our growth to realise its immense potential.”

Leon Farrant, CEO of Green Li-ion, said: “ERV is the perfect investor and partner for companies like ours, which are developing the technologies that will help the world to tackle some of the most acute challenges on the path to a clean energy future.

“We’re delighted to have found a specialist Venture Capital firm that not only recognises our commercial potential, but one that truly understands our complex technology. Their on-going support is invaluable to our mission to revolutionise energy storage, with our unique technology that fully recycles and remanufactures lithium-ion batteries.”