IKEA GreenTech invests in small-scale energy storage

IKEA GreenTech AB, the venture capital arm of the Swedish furniture group, has invested €2 million in Alelion Batteries AB.

“We hope to be able to develop small-scale eco-efficient products for IKEA customers through this investment”, says Christian Ehrenborg, CEO, IKEA GreenTech AB. “IKEA wants to bring good and affordable environmental products to the many people. Among other ways, we do this by IKEA GreenTech AB investing in innovative clean-tech companies with the potential to develop technologies into products that can be used and sold by IKEA.”

According to Ehrenborg there is a great future need for small-scale energy storage in appliances “Alelion is a company within the field of energy storage for small devices. This is well in line with the way IKEA wants to develop its range of energy products”.