Shell Ventures

Shell Ventures is the strategic investment arm of Shell, focusing on identifying and adopting innovative technologies to enhance commercial advantage. It invests in promising tech companies, joint ventures, and venture capital funds across sectors such as power, mobility, emission management, digital, and resources.

Bilal Ahmad

Venture Principal

Quennie Co

Managing Director and Managing Partner

Robert Linck

CFO and Chief Investment Director

Hector MacQuarrie

Venture Principal

Brian Panoff

Investment Director

Past deals in Solar Energy

Sunswap

Venture Round in 2024
Founded in London in 2020, Sunswap develops and manufactures solar-powered transport refrigeration units. Their patent-pending technology integrates solar panels, batteries, and electric refrigeration to provide a zero-emission alternative for transporting temperature-sensitive goods like food, medicine, and vaccines.

Soly

Series B in 2024
Soly is an international Clean Energy Tech company with a mission to make solar energy available to everyone. The company was founded in the summer of 2013 by brothers Patrick and Milan van der Meulen. The brothers were inspired at a young age by Al Gore’s documentary “An Inconvenient Truth” and have since decided to use their entrepreneurship ‘As a force for good’. The company is today one of the European market leaders in the field of decentralized energy generation and storage through solar panels, batteries and charging stations. Soly focuses on the residential and business markets and is active in the Netherlands, South Africa (2019), Belgium (2022), Germany (2023) and the United Kingdom (2023). By developing its proprietary software platform, Soly is one of the most capital-efficient energy providers, with only 140 employees across five countries. The Soly platform won a spot in the Deloitte Technology Fast50 in 2021. Soly is an impact driven company and since 2018 B Corp certified. B Corp is an international label for companies that strive for the highest standards of sustainability, financial transparency, and social justice.

Pavakaḥ Energy

Seed Round in 2024
Pavakaḥ Energy is a semiconductor company that specializes developing with sustainable solar energy solutions.

Soly

Series A in 2022
Soly is an international Clean Energy Tech company with a mission to make solar energy available to everyone. The company was founded in the summer of 2013 by brothers Patrick and Milan van der Meulen. The brothers were inspired at a young age by Al Gore’s documentary “An Inconvenient Truth” and have since decided to use their entrepreneurship ‘As a force for good’. The company is today one of the European market leaders in the field of decentralized energy generation and storage through solar panels, batteries and charging stations. Soly focuses on the residential and business markets and is active in the Netherlands, South Africa (2019), Belgium (2022), Germany (2023) and the United Kingdom (2023). By developing its proprietary software platform, Soly is one of the most capital-efficient energy providers, with only 140 employees across five countries. The Soly platform won a spot in the Deloitte Technology Fast50 in 2021. Soly is an impact driven company and since 2018 B Corp certified. B Corp is an international label for companies that strive for the highest standards of sustainability, financial transparency, and social justice.

Antora Energy

Series A in 2022
Antora Energy specializes in delivering reliable, zero-carbon industrial heat and power solutions to heavy industries. The company's core technology involves thermal energy storage that absorbs excess solar and wind electricity, converting it into usable heat for industrial processes.

Energos

Pre Seed Round in 2020
Energos develops a unified platform and edge AI for managing EV charging infrastructure and microgrids. The company's platform enables seamless integration with various electric vehicle chargers, storage systems, PV systems, HVAC, and other technologies. This allows retailers such as fuel service stations, convenience stores, EV charging and battery swap stations, hydrogen and CNG stations, and utilities to establish and manage multiple energy choices for EV car owners.

Orb Energy

Corporate Round in 2019
Orb Energy specializes in providing affordable renewable energy solutions to off-grid households in India. It offers solar home systems priced at USD 4 per month, reaching low-income customers through a robust retail distribution network comprising 90 branches. The company aims to expand its reach by doubling its branches and employees within two years, targeting an additional 250,000 people.

SET Ventures

Funding Round in 2019
SET Ventures is an Amsterdam-based venture capital firm founded in 2007 that invests in European energy and renewable sector companies across early to growth stages. It backs digital technology-enabled solutions aimed at carbon-free energy systems, including energy generation, distribution and storage, energy efficiency, and smart energy applications in buildings, industry, mobility, and infrastructure. The firm targets investments in technology-enabled clean energy and sustainability initiatives, often with a focus on smart grid, energy storage, and EV/green building applications, and seeks to support portfolio companies with strategic guidance, including board participation. Typical check sizes range from approximately €0.5 million to €6 million per company over the life of participation. SET Ventures concentrates on Europe and prioritizes companies that combine software and hardware components to create scalable energy solutions.

SunFunder

Series B in 2018
SunFunder Inc. is a solar energy finance company based in San Francisco, California, that specializes in providing various forms of financing to solar energy enterprises, particularly in emerging markets. Founded in 2012, the company offers short-term working capital, inventory, construction, and structured finance loans to solar product distributors, manufacturers, and project developers primarily in East and West Africa, as well as Asia. SunFunder's mission is to catalyze the development of solar energy infrastructure by leveraging its expertise in the solar market and facilitating efficient due diligence processes. By acting as a financial intermediary, SunFunder enables investors to engage in high-impact, fixed-income debt offerings that support the growth of solar assets in regions with inadequate energy access.

Sonnen

Series E in 2018
Sonnen is a developer of solar-based energy storage systems that provides clean and affordable energy solutions for residential homes, agricultural farms, and commercial enterprises. Established in 2011, the company launched the Sonnenbatterie, one of the first intelligent lithium storage systems in the German and Austrian markets. Sonnen's products not only focus on energy storage but also include features such as active energy management, smart metering, and integration with virtual power plants. These systems allow users to optimize energy use, save money by utilizing energy generated from solar photovoltaic systems or the grid, and manage their home automation platforms effectively.

GlassPoint Solar

Series C in 2014
GlassPoint Solar, Inc. designs, manufactures, and installs solar thermal steam generators specifically for the oil and gas industry. By providing solar steam for enhanced oil recovery applications, the company significantly reduces gas consumption, achieving reductions of up to 80 percent compared to traditional gas-fired steam generation. GlassPoint serves a diverse clientele, including independent producers, national oil companies, and various manufacturing sectors, with a focus on regions such as Southern California, North Africa, Western China, and Madagascar. Established in 2008 and headquartered in Fremont, California, GlassPoint Solar operates regional offices in Muscat, Oman; Kuwait City, Kuwait; Bakersfield, California; Santiago, Chile; and Shenzhen, China. The company was previously known as CleanBoard, Inc. before rebranding in October 2009.

Next Step Living

Series D in 2014
Next Step Living provides home energy evaluations and solutions for individuals and organizations. It offers energy assessment and diagnostics, air sealing and insulation, and multi-family retrofit services. The company also provides customized solutions, such as HVAC repair and replacement, window replacement and installation, solar or geothermal systems installation, building automation, interior and exterior lighting design, and custom retrofit services. Its sustainability solutions include water efficiency and purification, landscape design and management, and indoor air quality services. The company provides assessment and diagnostic processes to heating and cooling, domestic hot water, and electricity and lighting needs. Next Step Living partners with more than 400 municipalities, civic organizations, contractors, and corporations to deliver energy-efficient and environmental-friendly solutions to its customers. Those solutions include home energy assessments, weatherization work, energy-efficient windows, efficient heating, and cooling solutions, and access to solar solutions. Next Step Living was founded in 2008 by Geoff Chapin and is based in Boston, Massachusetts.

GlassPoint Solar

Series B in 2012
GlassPoint Solar, Inc. designs, manufactures, and installs solar thermal steam generators specifically for the oil and gas industry. By providing solar steam for enhanced oil recovery applications, the company significantly reduces gas consumption, achieving reductions of up to 80 percent compared to traditional gas-fired steam generation. GlassPoint serves a diverse clientele, including independent producers, national oil companies, and various manufacturing sectors, with a focus on regions such as Southern California, North Africa, Western China, and Madagascar. Established in 2008 and headquartered in Fremont, California, GlassPoint Solar operates regional offices in Muscat, Oman; Kuwait City, Kuwait; Bakersfield, California; Santiago, Chile; and Shenzhen, China. The company was previously known as CleanBoard, Inc. before rebranding in October 2009.
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