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innogy and OurCrowd Announce Partnership to Deliver the Next Generation of Energy Solutions in Israel

Partnership formed to support a new frontier of utility collaboration

innogy and OurCrowd will identify promising startups in Israel beyond the energy domain

Jerusalem (Israel) / Essen (Germany), February 28, 2017 – innogy SE, a leading European energy company, and OurCrowd, a leading global equity crowdfunding platform, today announced a new business partnership. The partnership will combine the strength of OurCrowd’s network and ability to scout investment opportunities in Israeli startups and match the business objectives of innogy to provide innovative products and services beyond the energy market.

Peter Terium, CEO of innogy SE said in Jerusalem: “We are on a quest for innovation and are excited to be present in the vibrant and innovative eco-system here in Israel. We have our own innovation team in Israel, connecting us with the startups and innovators in the country. OurCrowd is a natural partner for us. We are impressed by the depth of OurCrowd’s exposure and the quality of their portfolio. This partnership will enhance our ability to identify, invest in and build new 890 successful business – and to do it fast.”

OurCrowd, a platform that connects investors and startups around the world, will help funnel Israeli technology startups that support innogy. This partnership will help innogy achieve its goal of enabling people to improve their quality of life by changing and enhancing the energy sector worldwide (and in Europe and Germany in particular) through decarbonisation, decentralisation and digitalisation.

Jon Medved, Founder and CEO of OurCrowd said: “We’ve been impressed by innogy’s growing presence in Israel and thrilled to enter into this new strategic partnership. This partnership will give our portfolio companies a quality gateway to the European markets, with one of the most innovative and well positioned new breed of utilities. The innogy mission is to inspire people, offering solutions and making lives easier – something that we at OurCrowd believe in passionately.”

innogy’s Innovation Hub established an outpost in Israel to engage with innovative startups in its areas of interest  (Smart & Connected, Urban Solutions, Disruptive Digital, Big Data and Machine Economy/Blockchain), aiming to collaborate and invest in accordance with its open innovation strategy. The innogy Israel outpost is managed by Mickey Steiner, who has a wealth of experience in the Israeli hi-tech industry and is based in Tel Aviv.

For Press Materials: https://blog.ourcrowd.net/innogy

About innogy SE
innogy SE is Germany’s leading energy company, with revenue of around €46 billion (2015), more than 40,000 employees and activities in 16 countries across Europe. With its three business segments Grid & Infrastructure, Retail and Renewables, innogy addresses the requirements of a modern, decarbonised, decentralised and digital energy world. Its activities focus on its 23 million customers, and on offering them innovative and sustainable products and services which enable them to use energy more efficiently and improve their quality of life. The key markets are Germany, the United Kingdom, the Netherlands and Belgium, as well as several countries in Central Eastern and South Eastern Europe, especially the Czech Republic, Hungary and Poland. In renewable power generation, the company is also active in other regions, e.g. Spain, Italy and the MENAT region (Middle East, North Africa and Turkey), with a total capacity of 3.6 gigawatts. As a leader of innovation in future-oriented fields like eMobility, we are represented in the international hot-spots of the technology industry such as Silicon Valley, Tel Aviv and Berlin. We combine the extensive expertise of our energy technicians and engineers with digital technology partners, from start-ups to major corporates. With planned capital investments of around €6.5 billion (2016-2018), we are building the power market of the future and driving forward the transformation of the energy market.

innogy was formed from the restructuring of the RWE Group and started operations on 1 April 2016. Its IPO in October 2016 made innogy SE Germany’s most valuable energy company.

Innovations
We are working on future-oriented technologies for the energy world of tomorrow. Our employees are researching and developing innovative products and services in many areas of the company. In the innogy Innovation Hub alone, more than 130 in-house and third-party experts are working on the business models of the future. We also cooperate internationally with start-up companies, and for this purpose we have our own innovation teams in place in the start-up scene in Silicon Valley, Tel Aviv, London and Berlin. innogy invests in highly promising new companies around the world, and has initiated a €130 million investment program for the purpose via innogy corporate ventures GmbH.

Further information: www.innogy.com

About OurCrowd: OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors.

OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community of almost 17,000 investors from over 110 countries has invested over $400M into 110 portfolio companies and funds. OurCrowd already has thirteen exits to date, two IPO’s and eleven acquisitions.

To join OurCrowd as an accredited investor visit http://www.ourcrowd.com and click “Join”.

Press contacts:

Leah Stern, U.S/Europe +44 747 0196826 / +1.703.626.4310 E: leah@ourcrowd.com

Estee Yaari, Israel +972.50.200.7072 / E: estee.yaari@ourcrowd.com