Siemens VC to invest in Pune-based Energy Company

By siliconindia   |   Friday, 10 July 2009, 18:49 IST
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Siemens VC to invest in Pune-based Energy Company
Bangalore: With an aim to spread its wings in the environmental segment, Siemens Venture Capital (VC) has announced plans to invest in Transparent Energy Systems. The Munich-based VC arm of Siemens, has said that it plans to take a minority stake in the company, which provides waste heat recovery systems. "The field of energy and environmental technologies is highly attractive for venture capital investors," said Ralf Schnell, the CEO of Siemens Venture Capital. "Despite the difficult overall business environment, we will continue to see attractive growth rates in the area of green technologies," he added. Transparent Energy Systems is the 12th energy and environmental technologies company in which Siemens has invested. Transparent Energy Systems said it plans to use the new capital to expand operations. However, financial details of the transaction were not disclosed. According to Siemens Venture Capital, with the recent acquisition about more than 30 percent of the companies in its portfolio are active in environmental technologies.

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