1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative small and medium-sized enterprises (SMEs) and startups primarily in the deep-tech sector. This program aims to foster the growth of cutting-edge technologies and groundbreaking innovations that have the potential to significantly impact the market and the environment. The EIC Accelerator provides funding through a blended finance model that includes grants and equity investments, facilitating the scaling of high-potential companies.

Funding Structure

The EIC Accelerator offers substantial funding opportunities, with grants of up to €2.5 million available to cover project costs related to the development and commercialization of innovative products and services. This grant is intended to support activities such as prototyping, testing, and pilot projects, thereby enabling companies to advance their technological innovations.

In addition to grants, the EIC Accelerator provides equity investments, which have evolved over time. Until 2024, companies can access equity funding of up to €15 million. From 2025 onward, this cap is reduced to €10 million. This equity component is intended to bridge the financing gap that many deep-tech companies face, particularly in the early stages of development when traditional funding sources may be limited.

Purpose and Role in the Ecosystem

The primary purpose of the EIC Accelerator is to enhance the European deep-tech and startup ecosystem by providing financial support and strategic guidance. This program not only aids in direct funding but also plays a crucial role in helping companies build relationships with private investors and stakeholders. By demonstrating the viability and potential impact of their innovations, companies can attract additional private sector funding, thereby ensuring sustainable growth and scaling opportunities.

The EIC Accelerator acts as a catalyst for innovation, helping startups navigate the often complex journey from concept to market. This support is instrumental in fostering an environment where groundbreaking ideas can flourish and contribute to the competitive landscape in Europe.

Case Study: Nuventura GmbH

Company Overview
Nuventura GmbH, based in Germany, is an innovative company recognized for its pioneering contributions to the electrical switchgear market. The firm focuses on developing sustainable technologies that reduce the environmental impact of electrical systems.

Project Overview
The EIC Accelerator project titled Nuventura revolves around a novel dry air switchgear technology aimed at reducing the industry’s dependence on sulfur hexafluoride (SF6), a potent greenhouse gas. This project was submitted as a Step 2 proposal on March 23, 2022, and the company later advanced through the competitive Step 3 interview process to secure funding.

Technology Background
Traditional electrical switchgear often relies on SF6 due to its excellent insulating properties. However, SF6 is recognized as one of the most harmful greenhouse gases, with a global warming potential that is thousands of times greater than CO2. Nuventura's innovative approach substitutes SF6 with dry air, leveraging a more environmentally friendly and sustainable alternative.

The technology developed by Nuventura focuses on creating a switchgear system that maintains high performance while utilizing dry air as an insulating medium. This not only mitigates the environmental risks associated with SF6 but also enhances safety and operational efficiency. The dry air switchgear technology is designed to be compact, reliable, and suitable for various applications, including renewable energy integration and urban infrastructure.

By securing funding through the EIC Accelerator, Nuventura aims to scale its operations, enhance product development, and bring this transformative technology to market. The support from the EIC not only provides the necessary financial backing but also positions Nuventura to collaborate with industry leaders and expand its reach within the European market.

In summary, the EIC Accelerator serves as a vital resource for companies like Nuventura GmbH, facilitating the development of innovative solutions that address pressing environmental challenges while promoting sustainable practices within the electrical industry. Through its blended finance model, the program ensures that groundbreaking technologies can thrive, ultimately contributing to a greener and more sustainable future.

2 The Funding Rounds

# Nuventura GmbH: Funding History and Investment Analysis

Nuventura GmbH is a Berlin-based company that has developed innovative SF6-free medium-voltage gas-insulated switchgear (GIS) technologies. The company focuses on eliminating the use of Sulfur hexafluoride (SF6), which is the world's strongest greenhouse gas with 25,200 times more global warming potential than CO2.

Funding Rounds and Financial History

Nuventura has successfully secured multiple funding rounds to support its growth and expansion:

Seed Funding (March 2021)

Nuventura closed an equity funding round of €2.5 million in December 2020 (announced in March 2021), which was an extension of its 2019 seed round. This round was led by new investors Cycle Group and DOEN Participaties, with participation from existing investors IBB Ventures, APEX Energy, and Future Energy Ventures, as well as several angel investors. The funding was intended to help Nuventura make crucial steps toward product industrialization and prepare for expansion into other markets.

Series A Funding (September 2023)

On September 5, 2023, Nuventura announced the completion of a €25 million Series A investment round. This substantial funding round was led by Mirova through its impact private equity Mirova Environment Acceleration Capital fund, alongside new investors Forward.one and the EIC Fund (European Innovation Council), and existing investors IBB Ventures, ADB Ventures, Cycle Group, Future Energy Ventures, and DOEN Participaties. This funding brought the total investment in Nuventura to more than €35 million.

EIC Accelerator Funding

Nuventura was selected as an EIC Accelerator winner after submitting its Step 2 proposal on March 23, 2022, and subsequently winning in the Step 3 interview. The EIC Fund later participated as an investor in the company's Series A funding round in September 2023.

Investor Information

Nuventura has attracted a diverse group of investors across different funding rounds: Seed Round Investors:

• Cycle Group (Lead investor)
• DOEN Participaties (Lead investor)
• IBB Ventures
• APEX Energy
• Future Energy Ventures
• Various angel investors

Series A Round Investors:

• Mirova (Lead investor) - An affiliate of Natixis Investment Managers dedicated to sustainable investment
• Forward.one (New investor)
• EIC Fund (New investor)
• IBB Ventures (Existing investor)
• ADB Ventures (Existing investor)
• Cycle Group (Existing investor)
• Future Energy Ventures (Existing investor)
• DOEN Participaties (Existing investor)

Use of Funds

The capital from the Series A funding round is being used to: 1. Expand Nuventura's product portfolio

As Dr. Fabian Lemke, Nuventura Co-founder and CEO, stated: "This funding round... puts us in an ideal position to expand our operations internationally and continue providing sustainable switchgear alternatives for different use-cases together with our valued business partners around the globe."

Company Valuation and Exit Events

There is no publicly available information about Nuventura's current valuation following its Series A funding round. Additionally, there have been no reported exit events such as IPOs, buyouts, or acquisitions involving Nuventura as of April 2025.

Technology and Market Position

Nuventura has positioned itself as a pioneer in the switchgear industry by completely redesigning GIS switchgear to work with dry air instead of SF6, without compromising on size. According to Forward.one, "They are the only player in the market who has successfully commercialised a 36kV GIS without the use of SF6 - worldwide". This technological advantage gives Nuventura a significant competitive edge as regulatory oversight of SF6 increases globally.

Sources: - Nuventura secures €25 million in Series A funding, to accelerate global energy industry's transition away from harmful greenhouse gases

• Nuventura secures €25 million in Series A funding - IBB Ventures
• Startup Nuventura raises €25 million in Series A funding
• Deep Tech startup Nuventura raises new funding to support global expansion of SF6-free gas insulated switchgear
• Sustainable switchgear technology firm Nuventura secures €25 million in Series A funding

3 The Press Releases

Nuventura GmbH: A Leader in Sustainable Switchgear Technology

Overview Nuventura GmbH is a Berlin, Germany-based company specializing in the development of SF6-free, medium-voltage gas-insulated switchgear (GIS) technologies. Founded in 2017, Nuventura aims to accelerate the global energy industry's transition away from harmful greenhouse gases by providing environmentally friendly alternatives to traditional switchgear systems that rely on sulphur hexafluoride (SF6), the world's strongest greenhouse gas.

Technology and Innovation

Nuventura's patented technology uses dry air instead of SF6, offering a sustainable and environmentally responsible solution for the energy sector. The company works closely with original equipment manufacturers, EPC providers, and project developers to share its technology and facilitate a broader industry transition away from SF6.

Partnerships and Collaborations

Nuventura has entered into several strategic partnerships to expand its reach and influence. Notably, it partnered with Aktif Elektroteknik in 2022 to manufacture and develop innovative SF6-free switchgear. More recently, in October 2023, Nuventura collaborated with Iberapa, a Spanish manufacturer, to bring SF6-free switchgear to the Spanish market. This partnership supports Spain's energy transition by incorporating Nuventura's cutting-edge SF6-free MV GIS into Iberapa's medium-voltage substation offerings.

Funding and Investments

In September 2023, Nuventura secured €25 million in Series A funding, led by Mirova and supported by new investors Forward.one and EIC Fund, alongside existing investors. This funding brings the total investment in Nuventura to over €35 million and will be used to expand its product portfolio and enhance global manufacturing capabilities.

Patents and Intellectual Property

Nuventura has filed patents related to its switchgear technology, including a granted patent for a disconnector pole for gas-insulated switchgear. This intellectual property underscores the company's commitment to innovation in SF6-free solutions.

Team and Leadership

Dr. Fabian Lemke serves as Nuventura's Co-founder and CEO, leading the company's strategic development and international expansion. Under his leadership, Nuventura has positioned itself as a key player in the transition towards sustainable energy infrastructure.

Press Releases and Updates

Nuventura's recent press releases highlight its funding successes and strategic partnerships, which are critical to its mission of transforming the energy sector through sustainable technologies. These updates are available on the company's website and through various news outlets.

Sources

• Nuventura Secures €25 Million in Series A Funding
• Nuventura Secures €25 Million in Series A Funding
• Nuventura and Aktif Announce Partnership to Manufacture and Develop Innovative SF6-Free Switchgear
• Nuventura Secures €25 Million in Series A Funding
• Nuventura Closes €25M Series A Funding
• Nuventura and Iberapa Enter into Partnership to Bring SF6-Free Switchgear to Spain
• Nuventura
• Berlin's Nuventura Raises €25M for SF6-Free Switchgear Technologies
• Deep Tech Startup Nuventura Raises New Funding to Support Global Expansion of SF6-Free Gas Insulated Switchgear

4 The Technology Advancements

Nuventura GmbH, a Berlin-based cleantech company specializing in SF₆-free medium-voltage switchgear solutions, has made significant advancements since receiving EIC Accelerator funding in March 2022. Below is a detailed analysis of their progress:

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Current Capabilities

Nuventura’s core product, the nu1 gas-insulated switchgear (GIS), replaces sulfur hexafluoride (SF₆) with dry air insulation and is certified for 24–36 kV applications. Key features include:

• 31.5 kA short-circuit current rating and up to 2,500 A rated busbar current.
• IEC 62271-200 certification across voltage classes, ensuring compliance with EU F-gas regulations.
• Maintenance-free operation with compact dimensions comparable to SF₆-based GIS.

The company operates through partnerships with OEMs, panel builders, and EPC providers to accelerate global adoption.

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Post-EIC Funding Advancements

#### Technology Improvements

• Regulatory Compliance: Nuventura’s nu1 now adheres to the upcoming EU Regulation 2024/573, which phases out SF₆ from medium-voltage switchgear. Their design ensures “future-proof” compliance while maintaining performance parity with SF₆ systems.
• Enhanced Delivery: Reduced lead times to 4–6 months, down from earlier estimates of six months, due to standardized production processes.

Market Demonstrations & Pilots

Nuventura has deployed its technology across multiple sectors:

• Grid Infrastructure: Collaboration with German utility E.DIS Netz GmbH to future-proof energy networks using SF₆-free GIS.
• Renewable Energy: Integration into solar parks and battery storage systems for clients requiring sustainable grid solutions (e.g., direct quotes from end users in renewable projects).

Intellectual Property & Publications

• Patents: The company holds at least two patents related to dry-air disconnector poles and GIS architecture, granted as recently as February 2022. No new filings are explicitly mentioned post-March 2022. However, their Series A funding announcement emphasizes ongoing R&D for product portfolio expansion.
• Peer-reviewed studies or whitepapers are not cited publicly; technical validations rely on IEC certifications and customer testimonials.

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Strategic Growth Highlights (2023)

In September 2023, Nuventura secured a €25 million Series A round led by Mirova:

• Funds allocated to scale manufacturing capacity globally and develop next-generation products.
• Partnerships expanded via a modular distribution model targeting Europe and Asia-Pacific markets.

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Sources

Nuventura | SF₆-Free Medium Voltage Switchgear • Series A Funding Announcement • Technical Specifications • Partnership Models • Patent Portfolio

5 The Partnerships and Customers

NUVENTURA GMBH: Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding Since securing EIC Accelerator support in March 2022, Berlin-based Nuventura has accelerated its global expansion through strategic collaborations and funding milestones. The company’s SF6-free medium-voltage gas-insulated switchgear (GIS) technology has positioned it as a critical player in the energy transition, driven by partnerships that enhance manufacturing reach and regulatory compliance.

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Key Partnerships and Customers

• Aktif: Partnered in March 2022 to manufacture GIS products using Nuventura’s dry-air technology at Aktif’s Turkish facilities.
• Iberapa: A Spanish substation manufacturer collaborating since October 2023 to integrate Nuventura’s SF6-free GIS into MV substations, targeting Spain’s EU-driven phase-out of SF6 by 2030.
• Original Equipment Manufacturers (OEMs): Nuventura operates a partner model where OEMs add low-voltage components to its core GIS systems, enabling localized production while maintaining technological control.

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Nature of Relationships and Market Impact

Nuventura’s partnerships focus on:

• Regulatory Compliance: Helping partners adhere to EU F-Gas regulations (e.g., Iberapa).
• Technology Licensing: Sharing patented dry-air insulation methods with manufacturers like Aktif to replace SF6 globally.
• Market Expansion: Leveraging local partners for regional distribution, such as Iberapa in Spain or undisclosed collaborators in Asia/Africa via ADB Ventures-backed projects.

These relationships bolster Nuventura’s role as an enabler for sustainable grid infrastructure while expanding its geographic footprint.

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Scaling and Technological Advancements

The €25M Series A funding (September 2023), co-led by EIC Fund and Mirova, supports:

By decentralizing production through partnerships, Nuventura reduces costs while accelerating adoption of its SF6 alternatives.

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Sources Used

Nuventura & Aktif Partnership | Iberapa Collaboration | Partner Model |

6 The Hiring and Company Growth

Nuventura GmbH: Team Growth and Hiring Trends Post-EIC Accelerator Funding Since securing EIC Accelerator funding in March 2022, Nuventura has demonstrated steady growth in team size and strategic hiring to scale its SF₆-free switchgear technology.

Current team dynamics:

• Headcount: Estimated at 11–50 employees (as of latest available data" class="inline-link" target="_blank" rel="noopener noreferrer">Series A Funding, with operations spanning Berlin (HQ), Chennai (manufacturing), and partner locations.
• Hiring status: Actively recruiting across engineering, business development, and manufacturing roles, though no specific open positions are currently listed publicly. The company emphasizes rapid integration of talent to support global expansion.

Growth trajectory:

• Series A funding: Raised €25 million in September 2023 to accelerate production and market penetration.
• Strategic hires: While exact recent positions remain unspecified, Nuventura’s focus on customer success management (e.g., Nicholas Ottersbach as Customer Success Manager) and engineering expertise suggests prioritization of client-facing roles and technical innovation.

Future scaling strategy:
New team members are critical for advancing the company’s dual objectives: replacing SF₆ globally through dry-air switchgear deployments and maintaining compliance with tightening EU F-gas regulations. Expanded manufacturing capabilities in Chennai enable faster prototyping and quality control for international clients.

No major management changes have been reported since co-founders Manjunath Ramesh and Fabian Lemke established leadership continuity post-funding rounds. The emphasis remains on cross-functional teams combining electrical engineering, sustainability expertise, and industrial partnerships to drive decarbonization in energy grids worldwide.

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Sources

Nuventura | SF₆-free medium-voltage switchgear solutions · Nuventira company information | Startup City Winterthur · Nuventira - Startbase profile · About Nuventira · IBB Ventures portfolio entry · Climate Jobs List entry · Jobs at Nuventira | JOIN · Partnership announcement with Aktif Elektroteknik

7 The Media Features and Publications

Nuventura GmbH: A Pioneer in SF6-Free Switchgear Technologies

Nuventura GmbH, a Berlin-based R&D company, has been at the forefront of developing medium voltage (MV) gas-insulated switchgear (GIS) technologies that replace Sulphur Hexafluoride (SF6), the world's strongest greenhouse gas, with dry air. Since receiving EIC Accelerator funding in March 2022, Nuventura has continued to make significant strides in the cleantech industry.

Media Features and Publications

Nuventura has received substantial media attention for its innovative SF6-free switchgear solutions. Publications such as Tagesspiegel, EU-Startups, FORTUNE, and Tech.eu have highlighted the company's efforts to eliminate greenhouse gases from the energy sector. For instance, Nuventura secured €25 million in Series A funding to further develop its SF6-free technologies and expand globally. The company's projects have been featured in press releases, including collaborations with E.DIS to develop smarter, more sustainable distribution grids.

Podcasts and Interviews

Key figures from Nuventura have participated in several interviews and podcasts. Dr. Fabian Lemke, co-founder and managing director, has discussed Nuventura's mission to eliminate SF6 from the electrical grid, emphasizing the environmental benefits and performance advantages of their dry-air GIS technology.

Conferences and Events

While specific details on Nuventura's conference participations are limited, the company's focus on global expansion and collaboration suggests active involvement in industry events to showcase its technologies and build partnerships. Nuventura's presence in the Asia Pacific region, including business activities in China and manufacturing plans in India, indicates a strategy to engage with diverse markets.

Involvement in Events

Nuventura's commitment to innovation and sustainability positions it as a key player in cleantech events, where it likely presents its solutions to industry stakeholders. The company's engagement with investors and partners through funding rounds and collaborations underscores its event participation, though specific event names are not detailed in available sources.

Conclusion

Nuventura GmbH is a leading innovator in SF6-free switchgear technologies, contributing significantly to the energy transition by reducing greenhouse gas emissions. With its robust media presence, strategic partnerships, and participation in the cleantech sector, Nuventura continues to drive sustainability in the energy industry.

Sources

• News & Media - Nuventura
• Demonstration projects - Nuventura
• Pitch Fabian Lemke (nuventura) at the final (2019) - YouTube
• INTERVIEW WITH NUVENTURA - FineEngineering Magazine
• Nuventura : Switching it Up a Gear - APAC Outlook Magazine
• An Interview with Dr. Fabian Lemke – CO FOUNDER AND MD OF NUVENTURA
• Berlin's Nuventura raises €25M for SF6-free switchgear technologies
• A new way to think about cleantech innovation - YouTube