Post sponsored by NewzEngine.com

Source: Gazprom Neft

Headline: The “New Industry Ventures” fund joins the St Petersburg Energy TechnoHub

The New Industry Ventures fund (a joint project between Gazprom Neft, Gazprombank, Russian Venture Company (RVC) and VEB Ventures) has become an “electric” resident at the St Petersburg Energy TechnoHub, and is investigating potential investments in companies specialising in working with new energy technologies — specifically, alternative energy.
The New Industry Ventures fund’s collaboration with Energy TechnoHub participants will give the latter access to the fund’s investment opportunities — providing a further financial stimulus for developing promising business projects in energy generation and storage, system automation, and production robotisation.
More than 50 cases, available to TechnoHub “residents”, have already been posted on its online platform. Together with the Hub’s project office, New Industry Ventures’ specialists will select the most promising ideas for developing these cases from developers and producers, and assess the potential for involvement in project financing.

“Our fund has made several investments in technology companies this year. We’ve invested about RUB100 million in a company developing multi-lateral well-finishing technologies, for example, and in October joined a project on developing downhole tractors, used for delivering geophysical equipment to horizontal oil-well sections. We can see that a world-class ‘ecosystem’ — bringing together universities, scientific and research centres, start-ups and major corporations from the same area, all of them looking for answers to challenging problems — has been developed within the St Petersburg Energy TechnoHub. This is a highly favourable environment for speeding-up the development of technology projects with considerable potential for being monetized.”

Tatiana Morozova
CEO, New Industry Ventures fund

“Partnering with a venture fund opens up further opportunities for raising finance for our residents’ projects — something which will speed-up our developments and further improve the quality of the technology products available to our country’s energy industry.”

Andrey Vlasov
Head of the St Petersburg Energy TechnoHub Project Office for Gazprom Neft

MIL OSI Economics