Series A financing for innovative energy technology
Munich, June 28, 2012: Munich-based venture capital firm Target Partners (www.targetpartners.de) today announced a seven figure Series A investment in Theva Dünnschichttechnik GmbH (Theva) (www.theva.de). BayBG Bayerische Beteiligungsgesellschaft (www.baybg.de) joins Target Partners as a co-investor in the Munich-based technology company.
Theva is a specialist in 2nd generation (2G) high temperature superconductors (HTS). The funding will support development of production lines for 2G HTS tape for use in electrical power engineering applications.
Over the past ten years, Theva has developed a proprietary, patented process technology for manufacturing 2G HTS tape designed for applications such as electricity transmission, generators and electrical systems. 2G HTS tape can conduct two hundred times more electrical current than copper wire of the same dimensions. This results in huge potential savings for electricity grid expansion and increased power generation efficiency, while allowing for environmentally friendly electrical transmission. Theva provides a simple and cost-efficient process that ensures a high quality product. “We are also the only company in the industry with in-house equipment manufacturing capability,” said Dr. Werner Prusseit, CEO of Theva.
Kurt Müller, a partner at Target Partners, explained why the firm decided to invest: “Theva’s world-class team brings the ideal background and qualifications to the table. Their technical skills, many years of experience, and an excellent industry network are the cornerstones of the company’s continued success.”
Alexander Ullmann, senior project manager at co-investor BayBG, added, “The expertise of key Theva personnel and the favorable market and competitive environment are what tipped the scales in favor of our investment.”
“We are delighted to have found long-term, strategically oriented investors in Target Partners and the BayBG,” said Dr. Prusseit about the decision to opt for BayBG and Target Partners.
With €225 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in new start-up and early-stage companies, and supports them with venture capital during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money, and taking companies public, in Europe and the United States. For more details: www.targetpartners.de, follow us on Twitter: targetpartners or become a friend on Facebook: targetpartners
Sprachperlen GmbH Agency for enterprise communication Helena Horak Am Glockenbach 3 80469 Munich, Germany
Tel.: +49 89 411 53 199 Fax: +49 89 411 53 200 E-mail: firstname.lastname@example.org
Since 1996, Theva has been developing flexible HTS coated conductors for power engineering. Thanks to proprietary, independent technology access and a broad portfolio of patents, Theva is taking a leading role in coated conductor technology. The company is backed by a team of experienced development engineers and technicians. Theva builds specialized equipment and components for physical coating, and is a leader in quality control of superconductor coatings. Theva instruments have become the worldwide standard for HTSquality control. Its headquarters is located in Ismaning near Munich. The company has sales representatives in Asia and the US.
Theva Dünnschichttechnik GmbH Rote-Kreuz-Str. 8 85737 Ismaning, Germany Dr. Werner Prusseit
Tel.: +49 89 923 346 0 E-mail: email@example.com www.theva.com
Through its investments, BayBG is currently strengthening the capital base of 500 small and medium-sized businesses. BayBG is the Bavarian market leader among medium-sized, enterprise-oriented investment companies. Through its commitment, BayBG enables companies to implement plans for innovation and growth, manage corporate succession, optimize the capital structure and realize turnaround projects.
BayBG Bayerische Beteiligungsgesellschaft Josef Krumbachner Königinstraße 23 80539 Munich, Germany Tel.: +49 89 122280 177 E-mail: firstname.lastname@example.org