The technology company The Mobility House is raising about 50 million euros from existing investors. Wermuth Asset Management’s Green Gateway Fund is leading this round together with Mercuria and Ventura Capital.
The Mobility House integrates electric vehicle batteries into the power grid through smart charging and energy solutions. In this way, the company promotes the expansion of renewable energies by transforming mobile and stationary batteries of electric vehicles into buffer storage or flexibility potentials. This not only contributes to the stabilization of the electricity grids, but also makes electromobility more financially attractive.
The Mobility House has set itself the goal of advancing and shaping the intelligent networking of the mobility and electricity market as well as the monetization of electric vehicle batteries as a leading company with the help of its specially developed software.
Jochen Wermuth, founder of Wermuth Asset Management and board member of The Mobility House, said: “At The Mobility House, we see the potential to become the world’s leading software platform for monetizing electric vehicle batteries. The goal is to provide storage services for a 100 per cent renewable energy and transport system. This way, up to 21 per cent of global CO2 emissions could be saved”.
The Green Gateway Fund has been invested in The Mobility House since 2013 and is taking a disproportionate stake in this round. “We are thus showing our strong confidence in the future of this promising company,” says Wermuth. In addition to Wermuth Asset Management, The Mobility House’s investors include the European Investment Bank (EIB), Renault-Nissan-Mitsubishi, Mercedes-Benz AG, the Mitsui Group, SP Group and others.
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About Wermuth Asset Management
Wermuth Asset Management (WAM) is a Family Office which also acts as a BAFIN-regulated investment consultant.
The company specializes in climate impact investments across all asset classes, with a focus on EU “exponential organizations” as defined by Singularity University, i.e., companies which solve a major problem of humanity profitably and can grow exponentially. Through private equity, listed assets, infrastructure and real assets, the company invests through its own funds and third-party funds. WAM adheres to the UN Principles of Responsible Investing (UNPRI) and UN Compact and is a member of the Institutional Investor Group on Climate Change (IIGCC), the Global Impact Investing Network (GIIN) and the Divest-Invest Movement.
Jochen Wermuth founded WAM in 1999. He is a German climate impact investor who served on the steering committee of “Europeans for Divest Invest”. As of June 2017, he is also a member of the investment strategy committee for the EUR 24 billion German Sovereign Wealth Fund (KENFO).
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