Centrica Innovations Invests In U.S. Clean Energy Fund

Centrica Innovations, the £100m venture fund of Centrica plc, announced an investment in Powerhouse Ventures, which is described as, "the first seed specific fund for clean energy companies in the U.S."

Centrica Innovations said that, since 2013, Powerhouse has housed and supported over 60 clean energy startups through its Oakland based co-working space and incubator.

"Building on this success, Powerhouse is launching Powerhouse Ventures to back the latest in digital technology and business model innovation in energy," Centrica Innovations said

"Powerhouse Ventures will invest in 30-40 seed stage startups over the next five years and leverage its vast network of global partners to help portfolio companies gain customer traction and scale," Centrica Innovations said

"As we search for the next solution that can benefit our customers, it’s important to have visibility into early stage companies," said Christophe Defert, vice president of Centrica Innovations. "Powerhouse Ventures is at the center of a vibrant ecosystem of energy start-ups, and this investment allows us to be involved with those young companies and track them as they mature."

Powerhouse Ventures’ initial investments include Station A, Solstice Energy Solutions, Sparkmeter, and Leap.