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Corporate Venture
abb.com/ventures

Investments

66

Portfolio Exits

10

Partners & Customers

7

About ABB Technology Ventures

ABB Technology Ventures, or ATV, is the corporate venture capital (CVC) arm of the ABB Group, one of the world's largest engineering companies. ATV is focused on discovering tomorrow's energy solutions and to accelerate the growth of ABB's global power and automation businesses. ATV's investment team is comprised of ABB veterans as well as individuals with backgrounds in traditional venture capital investing. ATV is a legally independent investment entity and maintains a global presence with offices in Silicon Valley, Washington, D.C., and Zurich, Switzerland, where it is headquartered. As opposed to investing LP capital, however, ATV leverages ABB's balance sheet and historically investments have ranged from $1-$20 million. Most often ATV's investment is not the first institutional money. Ideal targets have solid intellectual property and product or service prototypes in place. ATV typically seeks out minority preferred equity ownership positions and often take board seats. The group's stated investment pace is 4-6 new companies per year with approximately half of those located in North America.

Headquarters Location

Zurich,

Switzerland

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Latest ABB Technology Ventures News

Empowering Renewable Energy: ABB's Investment in WindESCo for Wind Turbine Optimization

Sep 25, 2023

Wind turbines ABB Motion invests in WindESCo to sustain wind turbine performance, in a renewable energy drive that will help ABB in its net zero ambitions Automation machinery manufacturer ABB Motion and renewable energy company WindESCo have signed a strategic partnership, where ABB has acquired a minority stake in the company through its venture capital unit, ABB Technology Ventures. WindESCo uses analytics software to improve wind turbine performance. This investment will strengthen ABB’s standing in the renewable power generation sector. Improving the performance of wind turbines ABB supplies wind converters for medium voltage and low voltage wind turbines. WindESCo’s portfolio consists of: Find, Fix, Measure, an analytics solution which uses deep wind experience AI Swarm™, a wind plant optimisation solution Each is designed to improve the performance of wind turbines and increase profit margins for wind plants. Following this investment, WindESCo will be able to use ABB’s installed base experience of over 35GW of operating wind assets to help WindESCo advance its existing issue detection for onshore and offshore wind turbines. Reaching Net Zero in manufacturing Chris Poynter , President of System Drives, ABB Motion, knows that wind power is growing fast around the world and is essential in achieving global Net Zero targets. “According to the IEA, wind developers will add 107 GW onshore capacity this year,” he explains. “Meanwhile, the offshore wind industry is predicted to add a record 18.4 GW in 2023. However, accomplishing Net Zero requires more effort. As wind farms and turbines get bigger and more remote, data and diagnostics become increasingly important.” Poynter sees investments in digitalisation, such as the collaboration between ABB and WindESCo, as a way to give operators an advantage by improving the performance of their turbines. “There is tremendous value locked in the wind turbine converter data,” agreed Mo Dua , CEO, and founder of WindESCo. “While most of the solutions have focused on the mechanical systems, there are no solutions having a meaningful impact on the electrical system. The equity investment by ABB and our technical collaboration will allow WindESCo to expand its offering to the wind turbine electrical system with the goal of being the leading comprehensive asset performance monitoring solution provider for the wind industry. We are glad ABB chose WindESCo as their digitisation partner.” ************************************************* For more insights into Manufacturing - check out the latest edition of Manufacturing Magazine and be sure to follow us on LinkedIn & Twitter . Other magazines that may be of interest - Healthcare Digital . ********************************************* BizClik is a global provider of B2B digital media platforms that cover 'Executive Communities' for CEO's, CFO's, CMO's, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink. BizClik, based in London, Dubai & New York offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.

ABB Technology Ventures Investments

66 Investments

ABB Technology Ventures has made 66 investments. Their latest investment was in Pratexo as part of their Seed VC - II on August 8, 2023.

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ABB Technology Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/22/2023

Seed VC - II

Pratexo

Yes

4

7/28/2023

Series B - II

WindESCo

$9M

Yes

2

1/16/2023

Seed VC - II

OKTO GRID

Yes

1

12/19/2022

Series A

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$99M

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10

8/30/2022

Series B

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$99M

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10

Date

8/22/2023

7/28/2023

1/16/2023

12/19/2022

8/30/2022

Round

Seed VC - II

Series B - II

Seed VC - II

Series A

Series B

Company

Pratexo

WindESCo

OKTO GRID

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Amount

$9M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

4

2

1

10

10

ABB Technology Ventures Portfolio Exits

10 Portfolio Exits

ABB Technology Ventures has 10 portfolio exits. Their latest portfolio exit was Numocity on May 26, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/26/2022

Corporate Majority

$99M

2

4/23/2022

Acquired

$99M

7

1/27/2022

Corporate Majority

$99M

5

8/23/2021

Acquired

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$99M

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10

4/26/2021

Corporate Majority

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$99M

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10

Date

5/26/2022

4/23/2022

1/27/2022

8/23/2021

4/26/2021

Exit

Corporate Majority

Acquired

Corporate Majority

Acquired

Corporate Majority

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

7

5

10

10

ABB Technology Ventures Partners & Customers

7 Partners and customers

ABB Technology Ventures has 7 strategic partners and customers. ABB Technology Ventures recently partnered with WestRock on March 3, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

3/16/2020

Client

United States

Press release | Westerville, Ohio, USA |. ABB to upgrade paper machine drives, motors and electrical control systems at WestRock mill in Washington, USA

`` ABB was chosen for this project based on the customer 's positive experience with our drives systems at its Longview mill and other WestRock sites , '' said Steve St. Jarre , Head of Business Development , Pulp and Paper , Process Industries , ABB .

1

4/23/2019

Partner

Japan

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10

4/12/2019

Partner

Germany

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10

5/31/2018

Partner

India

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10

2/21/2018

Client

Sweden

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10

Date

3/16/2020

4/23/2019

4/12/2019

5/31/2018

2/21/2018

Type

Client

Partner

Partner

Partner

Client

Business Partner

Country

United States

Japan

Germany

India

Sweden

News Snippet

Press release | Westerville, Ohio, USA |. ABB to upgrade paper machine drives, motors and electrical control systems at WestRock mill in Washington, USA

`` ABB was chosen for this project based on the customer 's positive experience with our drives systems at its Longview mill and other WestRock sites , '' said Steve St. Jarre , Head of Business Development , Pulp and Paper , Process Industries , ABB .

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Sources

1

10

10

10

10

ABB Technology Ventures Team

4 Team Members

ABB Technology Ventures has 4 team members, including former Chief Executive Officer, Grant Allen.

Name

Work History

Title

Status

Grant Allen

Core Capital Partners, Microsoft, Jingle Networks, Dean & Company Strategy Consultants, and Bates White

Chief Executive Officer

Former

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Name

Grant Allen

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Work History

Core Capital Partners, Microsoft, Jingle Networks, Dean & Company Strategy Consultants, and Bates White

Title

Chief Executive Officer

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Status

Former

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