Hydro establishes new venture fund
Hydro has established Hydro Technology Ventures Fund II at NOK 400 million and will invest in companies developing innovative technology within the energy sector.
Aiming to invest in three to four promising companies annually for the next four years, the fund will invest in innovative technology within upstream oil and gas activities, as well as in renewable energy.
Hydro Technology Ventures is 100 percent owned by Hydro and Morten Ruud, head of Projects in Hydro, will be chairman of the board for the new venture fund.
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| Date of Transaction | 2006-02-20 |
| Closing | Final |
| Fund | Hydro Technology Venture Fund |
| Manager | Hydro |
| Stage | Venture |
| Location | Norway |
| Ind. Focus | Cleantech, Energy |
| Fund Size | NOK 250.0m |
| Vintage Year | 2001 |