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Surplus electricity stored in green batteries attracts investor capital

14 August 2020

VisBlue bids its first investor Borean, who invested in the company in its early days in 2014, farewell. The exit of Borean as an investor has resulted in a new investment round in VisBlue, where existing investors have bought Borean’s shares and a new investor has raised new funds for the company.

 

VisBlue "sale" was planned right from the start

From the beginning, it has been Borean’s plan to sell its shares in the battery producer from Aarhus to the private investment market.

In 2019, it was decided that the Danish investment fund was to be phased out, which means that Borean has to wrap up its investments, in 2022 at the latest. Therefore, the fund’s investment in VisBlue has been sold in time and is now 100% owned by business angels.

 

“We are proud to have been involved in VisBlues journey right from the start. The product that VisBlue contributes with, a greener battery for renewable energy storage, has huge potential across the world. Our investment in VisBlue has been an interesting journey and now we pass on our share of the company, and we are excited to follow their journey at a distance,” says Søren Niebuhr, Portfolio Manager.

 

Existing investors reinvest

CEO at VisBlue Søren Bødker is also proud of the collaboration with Borean, “We have been glad to have had the support of Borean, which has been valuable for us. Now we are excited for a new journey, where we will work closely with our new and existing investors.”

 

Now, there is a red thread, or a green thread if you will, through VisBlue, as its investors exclusively are business angels from the private capital market. The company’s existing investors, Kim Gardø Christensen, through the company Kick Green Invest, Jesper Andersen, through the company Enemærket Holding, and Ole Lysgård Madsen, through the company LM Consult, now continue their VisBlue journey with newly raised capital.

 

New investor on-board

Business angel Peter Aaby, through the company PA Smith, is VisBlue’s new investor, which delights everyone at the company. With an entrepreneurial background at ATEK Teknik, a company that among other works with emergency power and backup solutions, Peter Aaby contributes with a niche competence within the battery market.

Peter has also participated in an exit of his own company in 2012 to the Swedish group Coromatic, previously owned by the EQT capital fund.

 

“It is hugely successful for VisBlue that we have gotten Peter on-board,” a smiling Søren Bødker says and continues, “The market experience that Peter will contribute with is extremely valuable for us, and we are excited to start a long lasting collaboration with him, where his competences will help us in our further development and growth journey.”

 

“For me, it has been important to see that it actually is possible to make a sustainable battery solution, not just in the lab, but at a company level, at prices that are truly affordable. For many years, I have worked with lead and lithium batteries, and now I actually see the possibility of working with the next wave of green, sustainable batteries for among others companies, larger housing authorities and agriculture, where surplus electricity can be stored locally,” Peter Aaby says.

 

Increasing interest

The last couple of years, VisBlue has experienced a rising interest in the market, and more are hopping aboard the sustainable train. A dedicated effort from VisBlue has resulted in a larger brand awareness of the company and its sustainable batteries in the market. This has further resulted in a rising number of customers, especially within the housing authority segment, that have solar panels and can store excess electricity during the day in VisBlue batteries, for evening use, where the tenants use most of the electricity.

 

The work, however, is long from finished, but with a strong team of new and existing investors, VisBlue is now ready to fold up its sleeves and continue and scale up its contribution to the green transition.

 

About VisBlue

VisBlue is a Danish battery producer located in Aarhus, and the company produces sustainable batteries for the storage of surplus electricity from solar and wind power, as well as grid stabilising. The production takes places in the companies own production facilities in its headquarters in Aarhus. VisBlue’s batteries differ from other technologies by having a long lifetime (min. 20 years), a green profile, scaling possibilities, as well as fire safety.

 

The green element in VisBlues batteries is reflected in a holistic approach throughout the company, where  environmental, economic, and social sustainability are included. The company’s focus is not just on the en product itself, but the entire value chain and how the product contributes and effects the sustainable agenda by e.g. responsible consumption and production of raw materials.

 

Further information

VisBlue: Søren Bødker, CEO, ssb@visblue.com, +45 2166 3575

Kick Green Invest: Kim Gardø Christensen, kgc@kickgreeninvest.dk, +45 2094 3505

Enemærket Holding: Jesper Andersen, jesperander@gmail.com

LM Consult: Ole Lysgård Madsen, ole.lysgaard@mail.dk, +45 4019 9970

PA Smith: Peter Aaby, pa@pasmith.dk, +45 2612 4403

Borean: Søren Niebuhr, Portfolio Manager, sni@borean.dk, +45 2060 1540

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VisBlue strives to keep a good dialogue with the press and appreciates quick responses to enquiries. Enquiries from the press should be addressed to CEO, Søren Bødker.

 

E: ssb@visblue.com

P: (+45)   71 996 996

 

 

P: (+45)  71 996 996

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