Alliance Ventures has invested in vehicle to grid technology startup Mobility House to boost the adoption of the technology.
Alliance Ventures is a venture capital arm of Renault, Nissan and Mitsubishi
Mobility House is based in Germany, Switzerland and California - provides a platform to integrate EV batteries into power grids using energy storage and intelligent charging solutions.
In partnership with Renault, the Mobility House will make the Portuguese island of Porto Santo, near Madeira, the first "smart island" in the world by using EV batteries to store energy and supply it for reliability during peaks.
Alliance Ventures and Mobility House have partnered before to make the Nissan LEAF the first electric car to be used in a Vehicle-to-Grid (V2G) project in Germany, in Hagen.
Thomas Raffeiner, CEO of the Mobility House, said: "Alliance Ventures aims to provide the right ecosystem of open innovation to ensure Alliance member companies deliver mobility for tomorrow.
"The Mobility House's expertise in e-mobility and energy transition will contribute to the Alliance commitment to zero-emission vehicles and to the achievement of our vision: shaping the future of mobility."
The investment in The Mobility House follows 11 others by Alliance Ventures, including start-up based in North America, Europe and China.