The deal with Mantex comes three months after RWE Innogy founded Innogy Venture Capital as a subsidiary company to formalise its corporate venturing activities begun in 2008.

RWE Innogy, the corporate venturing and renewables division of Germany-based power utility RWE, has invested SKr3.7m ($600,000) in Mantex, a Sweden-based company that measures moisture levels in organic matter used in biofuels.

Mantex in total raised SKr20m, with local energy analysis agency Energimyndigheten providing SKr9.5m and venture capital firm Sting Capital the remaining Skr4.6m.

RWE Innogy had previously invested SKr12m in Mantex in July 2009, a year after the company’s launch, with the latest round expected to help the portfolio…