Sweden-based home retailer Ikea has made its first deal from its €50m ($70m) clean-tech corporate venturing fund set up in 2008.

Ikea GreenTech has invested €2m in local small-scale energy storage company Alelion Batteries.

Christian Ehrenborg, managing director of Ikea GreenTech since September last year, said: "We hope to be able to develop small-scale eco-efficient products for Ikea customers through this investment."

Ikea said it wanted to help customers live a more sustainable life at home and would make further…

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