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PKN ORLEN increases investments in innovative energy startups

Innovative systems designed to improve wind turbine performance and robotic solutions to handle industrial inspections are among the latest investments of ORLEN VC, Poland’s largest corporate venture capital fund, specialising in promising technology startups. ORLEN VC has also completed another indirect investment in Environmental Technologies Fund, a UK-based venture capital fund investing in startups with a focus on energy transition and future mobility.

“Our ability to acquire and effectively deploy innovations is what underpins the ORLEN Group’s competitive position,” said Daniel Obajtek, CEO of PKN ORLEN. “[…] The fund’s new investments, both indirect and direct ones, will support the successful delivery of the Group’s strategy in the long term and contribute to creating value for all our stakeholders.”

ORLEN VC supports technology startups in the expansion phase, working on cutting-edge products or services that fit in with the ORLEN2030 strategy. The fund’s portfolio currently comprises three companies: ICSec, a provider of cybersecurity solutions for the industrial sector, Eologix, which has developed a system for monitoring and improving the performance of wind turbines and Invert Robotics, a manufacturer of patented industrial inspection robots. ORLEN VC has also invested its capital in other funds – Emerald Technology Ventures based in Switzerland and Environmental Technologies Fund based in the UK.

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