LG’s incubation unit hired Ramkumar Krishnan, who worked at multiple renewable energy companies, to identify cleantech opportunities.
Ramkumar Krishnan has joined LG Nova, an incubation arm of South Korean consumer electronics firm LG Electronics, as head of cleantech incubation.
Launched in 2021 and formally known as North America Center for Innovation, LG Nova works with North American entrepreneurs to create joint businesses and joint ventures. Besides funding, the unit may also help its parent firm acquire startups.
Digital health, futuretech, smart life and open innovation are among LG Nova’s target areas, in addition to cleantech opportunities led by Krishnan. He will identify hardware and software business ideas and projects that can help LG achieve sustainability.
“This is a fantastic opportunity to lead and nurture innovative solutions that address our most pressing environmental challenges,” Krishnan said in a LinkedIn post.
Krishnan spent nearly seven years at lithium-ion battery developer BattGenie, where he was business lead and acting chief marketing officer. Before that, he was chief technology officer at renewable energy companies BrightNight, NantEnergy and Fluidic Energy.
LG also runs a more traditional corporate venture capital arm called LG Technology Ventures led by serial GCV Powerlist member Dong-Su Kim.
In August 2023, LG disclosed the $100m Nova Prime Fund with impact asset manager Clearbrook, which will invest in startups that are part of LG Nova’s Mission for the Future Program.
