Amsterdam, the Netherlands – Last week during its CleanTech Symposium in Stockholm, Sweden, the Cleantech Group (CTG), developer of the i3 market intelligence platform, named Epyon as one of CTG’s five picks as a European Cleantech Company of the Decade. Currently Epyon is the electrical vehicle (EV) charging infrastructure business part of ABB, the leading power and automation group.
Amsterdam-based Chrysalix SET, together with Vancouver-based Chrysalix EVC, became active cornerstone investors in Epyon B.V. after it had just spun out of the TU Delft. Through this early stage (and follow-on) funding and by augmenting the quality of the management, shaping the strategic direction and helping to expand the investor base, the company quickly became the technology leader for EV charging infrastructure technology.
“The Epyon case was picked to represent the copy-book venture story,” explained Richard Youngman, Managing Director Europe & Asia, CTG. “The company was a university spin-out in 2006, raised a couple of venture rounds in 2008 and 2010, and was sold to a major multi-national corporation, namely ABB, in 2011. The company is still thriving as a product group, with the same team, leveraging ABB’s international presence to take its fast-charging technology to the future markets of EV—China, for example.”
This one-off award was made in connection with the 10th anniversary Cleantech Forum Europe, held in Stockholm this year. The award was made in Stockholm’s City Hall, the venue of the annual Nobel Prize ceremony.
In July 2011, ABB announced it had acquired Epyon B.V., an early leader in EV-charging infrastructure solutions that focused on DC fast charging stations and charging network software. Epyon was founded in 2005, headquartered in the Netherlands and had around 50 staff worldwide at the time of the transaction.
“We are very proud that Epyon received the recognition from CTG” says Rene Savelsberg, CEO and Managing Director at Chrysalix SET and former board member of Epyon B.V..”We shared a vision with the founder of Epyon and we were able to adjust and execute the business in a timely fashion to create value for Epyon’s shareholders, while seriously impacting the path towards more sustainable transportation. From university spin-out to world leadership inside a large conglomerate is a great accomplishment. As venture capital professionals, we at Chrysalix SET are excited to have contributed”.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 150,000 people.
About Chrysalix SET
Chrysalix SET is the Amsterdam-based management company of SET Fund I and SET Fund II. These independent Venture Capital funds focus on and invest in European-based early growth stage technology companies that offer a unique solution impacting the energy sector going forward. These target companies offer a technology, product or service, and/or enjoy a competitive market position with a high upside potential, while impacting the way energy is generated, distributed (including stored) or used (efficiency). Chrysalix SET’s current investments include, among others, AlertMe Ltd, General Fusion Ltd, MicroShade A/S, NGenTec Ltd, EnOcean GmbH, LUXeXceL B.V. and Sefaira Ltd. Contact details Chrysalix SET Rene Savelsberg, Managing Director and CEO Keizersgracht 756 1017 EZ Amsterdam, The Netherlands T +31 20 3200 104; M + 31 6 22 938536 Email: email@example.com