Statoil Energy Ventures invests in United Wind

Statoil Energy Ventures announced today that it had invested USD 3 million in United Wind, the leading provider of distributed wind energy leasing solutions.
This is the first investment by Statoil Energy Ventures: Statoil’s new USD 200 million venture capital fund dedicated to investing in attractive and ambitious growth companies in renewable energy, supporting its strategy of growth in new energy solutions.

“Statoil is committed to wind energy, as demonstrated by our strong position in offshore wind. Today’s investment in United Wind secures early entry in the company driving the growth of the distributed wind market in the United States,” says Gareth Burns,

vice president in Statoil and managing director of Statoil Energy Ventures.
“This transaction fits well with two of our key investment purposes: Testing and positioning for future potential growth legs, while also exploring high impact business models. We are excited to partner with United Wind and look forward to driving further growth through financing and access to technology and market experience,” says Burns.
The transaction provides Statoil Energy Ventures a seat on the company’s board of directors.
Source: Statoil
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