PERSEO

PERSEO functions as Iberdrola's pioneering open innovation initiative, dedicated to advancing startup technologies in sustainability and energy transformation since its establishment in 2008. With more than 15 years of experience supporting emerging technologies, the program has deployed over €200 million across numerous startups and created new ventures through its Venture Builder platform. PERSEO's investment strategy encompasses direct investments in promising companies, strategic partnerships, and participation in specialized funds including the Andromeda SustainableTech Fund and GED TECH Seed Fund, all aligned with Iberdrola's vision for technological innovation and environmental sustainability.

The investment approach utilizes multiple strategic mechanisms to drive innovation in the energy sector. These include direct venture capital investments typically ranging from €1-5 million, formation of strategic alliances with industry partners, organization of approximately six startup challenges annually, and facilitation of roughly 25 pilot projects and Proof of Concept initiatives each year. Through these activities, PERSEO cultivates an innovation ecosystem that tests and implements early-stage and disruptive technologies, ultimately advancing sustainability through increased electrification and decarbonization of energy systems.

At its core, PERSEO pursues four complementary objectives: identifying emerging industry trends before they become mainstream, fostering entrepreneurial culture within and beyond Iberdrola, supporting disruptive business models that challenge conventional energy paradigms, and stimulating economic revitalization in its operating regions. The program strategically focuses investments across five key areas: renewable generation with flexibility and storage solutions; grid modernization technologies for smart digital electricity infrastructure; demand electrification through innovative products and services; process innovation for optimizing asset lifecycles; and sustainability solutions that promote circular economy principles and effective carbon management.

Beyond direct investments, PERSEO extends its impact through strategic fund investments, including the €300 million Seaya Andromeda Sustainable Tech Fund targeting scale-ups with significant sustainability potential, and the €100 million Buenavista Tech Seed fund supporting early-stage technology projects focused on environmental sustainability. The PERSEO Venture Builder division creates businesses from the ground up, specifically addressing sustainability challenges in electricity generation and hard-to-decarbonize sectors. This comprehensive approach provides entrepreneurs with valuable resources including access to extensive data sets, real-world testing environments, co-investment opportunities, and the benefit of Iberdrola's vast industry knowledge and ecosystem connections.