Regional: Administration of Equity Investment for Nuventura GmbH

Nonsovereign Project | 55273-001

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
    Regional
  • Sector
    • Energy
Project Name Administration of Equity Investment for Nuventura GmbH
Project Number 55273-001
Borrower/Company ASIAN DEVELOPMENT BANK
Nuventura GmbH
Country Regional
China, People's Republic of
Location China - Nation-wide
Type or Modality of Assistance
Equity ADB Ventures Investment Fund 1 USD 0.00 Approved
Equity ADB Ventures Investment Fund 1 USD 3.50 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Energy / Energy sector development and institutional reform

Gender Equity and Mainstreaming 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.

Objectives and Scope
Linkage to Country/Regional Strategy
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance -
Credit Committee Meeting -
Approval 16 Sep 2021
Last PDS Update 16 Sep 2021

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