Innogy Venture Capital sells 20% stake in Voith Hydro Ocean Current Technologies, maker of tidal turbine technology, to the majority shareholder Voith Hydro.
Innogy Venture Capital, a fund management company co-sponsored by Germany-based energy company RWE Innogy, announced in November 2013 that it had sold its 20% stake in tidal energy turbine manufacturer Voith Hydro Ocean Current Technologies to the majority shareholder Voith Hydro, a subsidiary of family-owned industrial and energy conglomerate Voith. The transaction is based on a “medium two-digit million Euro valuation” for the portfolio company, and the 20% stake had been held by Innogy Renewables Technology Fund I (IRTF I)…
