Investment funds
At IFP Energies nouvelles, support for innovation also takes the form of the provision of capital for SMEs organizing fund-raising campaigns in order to develop and market new products and new technologies. IFP Energies nouvelles uses two investment funds – Demeter and 3E – to fulfill this mission.
In addition to contributing financially to these funds, IFP Energies nouvelles also brings its expertise to help evaluate the technical services and skills of companies being considered for investment by these funds.
Involvement in two investment funds specializing in eco-industries and eco-energies.
The Demeter investment capital fund
Demeter is one of the first European funds to specialize in eco-industries and eco-energies. The fund was created in 2005 by the Caisse des dépôts (CDC Entreprises), IFP Energies nouvelles and Veolia Environnement. It has raised a total of €105 million from some twenty corporate investors and has shareholdings of between €1 and 10 million.
During the course of 2009, Demeter invested €7.4 million in six refinancing operations for companies in its portfolio. Since its creation, Demeter has invested a total of €91.5 million of the €105 million raised in 2005.
In 2008, the management team created a second fund – Demeter 2 – with historic investors, including IFP Energies nouvelles, and four new subscribers: Caser (Spanish insurance company), Crédit coopératif, Dahlia Partners and Total. The new themes covered by Demeter 2 will include regional development, sustainable construction and clean transport, in particular electric vehicles.
The fund has already invested around €15 million in five companies: Burgéap (environmental engineering and energy management company), Igip (engineering company in Germany, merged with Burgéap in the autumn of 2009), Methanéo (methanization), Solfocus (concentrated photovoltaic systems) and Vertaris (manufacturer of white paper from 100% recycled paper).
The 3E (Emertec-Énergie-Environnement) seed money fund
The 3E seed money fund finances young innovative companies whose aim is to reduce the impact of human activities on the environment and guarantee access to sustainable, reliable and cheap energy. Created in 2003 by IFP Energies nouvelles with the Caisse des dépôts et consignations (CDC), Natexis and the CEA, this fund has invested in 11 companies and completed its investment phase in 2008.