Regional : Administration of Equity Investment in Nuventura GmbH
The transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to the Euro equivalent of $3,500,000 including an initial investment of 1,000,000, approximately $1,180,000, in Nuventura GmbH (Nuventura) in Germany to expand its operations in developing member countries (DMCs) with an initial focus on the People's Republic of China (PRC) market and India as a subsequent target market to be provided by the ADB Ventures Investment Fund 11 under the ADB Ventures Financing Partnership Facility. ADB will provide financing to Nuventura to be used by its Singapore subsidiary, to be set up before the closing of the investment, in the form of a convertible loan agreement between Nuventura and ADB. The balance of the approved equity amount may be invested in subsequent fundraising rounds that Nuventura is expected to undertake. Consistent with the establishment arrangements for the fund, ADB will not invest its own capital alongside the fund.
Project Details
-
Project Officer
Hersson, Daniel
Private Sector Operations Department
Request for information -
Approval Date
16 September 2021 -
Country/Economy
Regional -
Sector
- Energy
| Project Name | Administration of Equity Investment in Nuventura GmbH | ||||||||||
| Project Number | 55273-001 | ||||||||||
| Borrower / Company | ASIAN DEVELOPMENT BANK Nuventura GmbH |
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| Country / Economy | Regional China, People's Republic of |
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| Location | China - Nation-wide | ||||||||||
| Type or Modality of Assistance |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Partnerships Private sector development |
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| Sector / Subsector | Energy / Energy sector development and institutional reform |
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| Gender | Effective gender mainstreaming | ||||||||||
| Responsible ADB Department | Private Sector Operations Department | ||||||||||
| Responsible ADB Division | Office of the Director General, PSOD | ||||||||||
| Responsible ADB Officer | Hersson, Daniel | ||||||||||
| Project Sponsor(s) | |||||||||||
| Description | The transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to the Euro equivalent of $3,500,000 including an initial investment of 1,000,000, approximately $1,180,000, in Nuventura GmbH (Nuventura) in Germany to expand its operations in developing member countries (DMCs) with an initial focus on the People's Republic of China (PRC) market and India as a subsequent target market to be provided by the ADB Ventures Investment Fund 11 under the ADB Ventures Financing Partnership Facility. ADB will provide financing to Nuventura to be used by its Singapore subsidiary, to be set up before the closing of the investment, in the form of a convertible loan agreement between Nuventura and ADB. The balance of the approved equity amount may be invested in subsequent fundraising rounds that Nuventura is expected to undertake. Consistent with the establishment arrangements for the fund, ADB will not invest its own capital alongside the fund. Nuventura, a company focused on developing advanced and sustainable gas insulated switchgear (GIS) technology, is expanding into Asia, in particular the PRC. Switchgear units are a critical part of electricity grid infrastructure and, among other things, prevent electrical accidents and fires. Nuventura's core technology replaces sulphur hexafluoride (SF6) one of the most harmful greenhouse gases but widely used as an insulating medium with zero-emission dry air. Nuventura's sustainable switchgear will be deployed throughout the transmission and distribution systems of electricity utilities, and in medium-to-large commercial or industrial facilities. The company's mission to promote emission-free switchgear and reduce the greenhouse gas emissions of the power transmission and distribution industry aligns with ADB's operational priorities (OPs), particularly OP3 tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability in Asia and the Pacific. |
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| Objectives and Scope | |||||||||||
| Linkage to Country/Regional Strategy |
| Safeguard Categories | |
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| Environment | C |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
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| Concept Clearance | - |
| Credit Committee Meeting | - |
| Approval | 16 Sep 2021 |
| Last PDS Update | 16 Sep 2021 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| Administration of Equity Investment in Nuventura GmbH: Gender Action Plan | Gender Action Plans | Sep 2021 |
| Administration of Equity Investment in Nuventura GmbH: Report and Recommendation of the President | Reports and Recommendations of the President | Sep 2021 |
| Administration of Equity Investment in Nuventura GmbH: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Aug 2021 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
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Related Publications
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