PERSEO Venture Builder

At Iberdrola, we are committed to innovation and the energy transition, which is why, through PERSEO, we have created PERSEO Venture Builder. With this new unit, we will invest in the creation of companies that work to make electrification possible in sectors in which, a priori, decarbonisation is difficult, such as industrial heat production and heavy transport, for example.

Through Venture Builder we work on the development of industrial initiatives with high growth potential, something that will benefit society and the economy. Although the activities of this PERSEO unit are mainly carried out in Spain, we do not rule out promotion in other markets in which we operate.

 SEE INFOGRAPHIC: Core focus activities [PDF]

Main initiatives within the framework of Perseo Venture Builder 

Perseo Venture Builder supports and promotes a series of projects that we can highlight and describe, all of them oriented towards the decarbonisation and electrification of different sectors.

Basquevolt: solid-state batteries to expand transport electrification

Iberdrola is part of the consortium of investors in the Basque technology company Basquevolt , in an initiative launched in 2022 with the aim of starting up a solid-state battery production line that is a benchmark in Europe. This project, with an investment of more than €700 million and the prospect of generating more than 800 direct jobs, aims to reach 10GWh of capacity by 2027.

Solid-state lithium battery technology is the only technology that meets the most demanding requirements of the automotive sector in terms of performance and is therefore becoming the strategic focus of the automotive industry.

Basquevolt aims at the sustainable development of the best battery cells and materials to enable the mass deployment of electric transport, stationary energy storage - including hybridisation with hydrogen-gas systems - and advanced portable devices.

Carbon2Nature: Créditos de carbono da mais alta qualidade como parte necessária da transição energética

We created the Carbon2NatureExternal link, opens in new window.  platform to generate carbon emission credits linked to high quality nature-based solutions projects. We are committed to the voluntary carbon market as an instrument to offset or neutralise the carbon footprint of our international clients within the framework of ambitious reduction strategies, aligned with the necessary energy transition towards decarbonisation and electrification. 
 
At Carbon2Nature we have credit-generating assets through Nature-Based Solutions (NBS) such as sustainable and quality reforestation with a global scope, open to the creation or acquisition of new projects to develop. At the same time, we are researching new sources of CO2 capture such as soils, through sustainable agriculture, and the oceans (Blue Carbon). All of this with a view to the climate and emission reduction targets for 2030.

eHeat Networks: community geothermal opportunities in the UK

The target to be Net-Zero in UK homes by 2040 and the future ban on the installation of gas boilers opens up a niche for innovation to decarbonise 20 million homes in an efficient and cost-effective way. In contrast to the known advantages of aerothermal energy, eHeat Networks will focus on geothermal energy as a superior efficiency technology if implemented using community networks in buildings or housing estates that allow the exchange and use of ground source heat.

Through PERSEO Venture Builder, the Iberdrola group has launched a new company under the name eHeat Networks to pursue community geothermal opportunities in the UK. eHeat Networks is actively pursuing the expansion of its geothermal solutions and will build its first infrastructure as part of the HALO Project: an innovative zero-emission development being developed in Kilmarnock, Scotland, in which ScottishPower External link, opens in new window. is participating alongside other stakeholders.

EnergyLOOP, recycling of wind turbine blades

Iberdrola and FCC Ámbito, a subsidiary of FCC Servicios Medio Ambiente, have launched EnergyLOOP  to lead the way in the recycling of renewable installation components, one of the biggest medium- and long-term challenges facing the sector.

The initial objective is to recover the components of wind turbine blades, which are mostly glass and carbon fibres and resins for reuse in sectors such as energy, aerospace, automotive, textiles, chemicals and construction.

With this initiative we are promoting the circular economy and contributing to promoting the circular economy in Spain. This new company plans to set up Spain's first blade recycling plant in Navarre, which will create around 100 direct and indirect jobs over the course of the decade, and an investment of around 10 million euros in the first installation.

A commitment to bringing the photovoltaic energy value chain closer

We created an alliance with the Exiom External link, opens in new window. business group to install the first large photovoltaic panel manufacturing plant in Spain and one of the first on an industrial scale in Europe in 2023. Located in Langreo (Asturias), this facility has an investment of €20 million to promote industrialisation associated with the energy transition, as well as contributing to the economic revival of the mining basins with the generation of 115 jobs.

The opening of this new facility responds to Exion and Iberdrola's interest in achieving competitive manufacturing at the European Union level, focused initially on solar panels with the possibility of extending the collaboration to other components of the photovoltaic value chain. Furthermore, the initiative reinforces the commitment of both companies to boosting the economy around the energy system of the future: decarbonised, electrified and based on clean energy.

LatemAluminium: A pioneering large-scale aluminium recycling project

We joined Latem Aluminium with the aim of supporting its pioneering large-scale aluminium recycling project as a means to boost the green industry in Spain. This initiative is in line with our commitment to the circular economy, by seeking to close the life cycle of aluminium, while at the same time committing to the best innovation to accelerate the decarbonisation and electrification of the economy.

Iberdrola also becomes an energy partner of LatemAluminium External link, opens in new window. with the aim of decarbonising all green aluminium production processes with renewable electricity and green hydrogen. The total investment of this initiative - declared a Priority Industrial Project - will reach €120 million by 2024 and will generate 800 jobs by 2026, more than 300 direct jobs, with a huge impact on the rural environment of the region of Castile and León.