The SUSI Energy Storage Fund (SESF) received capital commitments of EUR 252 million from institutional investors in Germany, the Netherlands, Austria, Sweden and Switzerland at the end of May 2018.
SUSI Partners AG launched the world's first dedicated energy storage infrastructure fund in early 2017 with the aim of bridging the gap between volatile renewable energy supply and the electricity demand curve by means of decentralised storage capacity.
The SUSI Energy Storage Fund invests OECD-wide in projects using different storage technologies, whereby technology risks are outsourced by long-term manufacturer guarantees.
Science-based investment strategy
SUSI Partners has been monitoring the energy storage sector for more than five years. Together with the Swiss Federal Institute of Technology (ETH Zurich) and the Swiss Ministry of Energy, a comprehensive study on energy storage was prepared, which examines not only the various technologies but also the possible business models.
Based on the results of the study, SUSI set up the world's first infrastructure fund specialising in energy storage.
Dr Tobias Reichmuth, CEO of SUSI Partners AG, explains on the successful conclusion of the fundraising:
“Energy storage systems are the key to the successful implementation of the energy transition. We are proud to be a pioneer in this field and we are very pleased that new and existing SUSI investors have entrusted us with the implementation of this innovative investment strategy”
Investors include Fair-Finance (Austria), DEVK, Ingenieurversorgung Mecklenburg-Vorpommern, Versorgungswerk der Zahnärztekammer Berlin and Versorgungswerk der Bezirksärztekammer Trier (Germany), Pensioenfonds Metaal en Techniek and IMAS Foundation, a sister foundation of the INGKA Foundation (Netherlands), Gamla Livförsäkringsaktiebolaget SEB Trygg Liv (Sweden), PKE Vorsorgestiftung Energie and Verein Barmherzige Brüder von Maria-Hilf (Switzerland), as well other European pension funds and family offices.
Already EUR 90 million allocated
The SUSI Energy Storage Fund has already completed two investments, allocating approx. EUR 90 million. Both projects benefit from long-term visible cash flows; the technologies used include lithium-ion batteries and flywheels.
The investment team is currently working on four transactions, representing another EUR 90 million.
Marco van Daele, CIO at SUSI Partners commented: “We see many interesting investment opportunities with an attractive risk/return profile in this new and fast-growing field. Energy storage is a key technology that enables the systemic integration of renewable energy producers and thus contributes significantly to the global CO2 reduction goals.”