The Munich-based company Theva secures funding from old and new investors anew fresh capital for its superconductor production.
Theva may no longer be a startup, but the Munich-based superconductor manufacturer is a favorite among venture capital investors. In addition to existing investors BayBG, Bayern Kapital, eCAPITAL, and Target Partners, EnBW New Ventures is now investing in the Ismaning-based company. A total of seven million euros will be invested in the venture. Theva Managing Director Dr. Werner Prusseit says:
"We are the first in Germany to mass-produce superconductors. And we also want to be number one in market penetration. Thanks to our investors, we continue to have a reliable financial basis for this."
“We believe more than ever in the team’s success”
The superconductors produced by Theva are materials that transport electricity with no or very low losses — a future technology with many possible applications.
“We have accompanied THEVA from the first round of financing and believe more than ever in the success of the team and the superconductor technology,”
says Kurt Müller, Partner at the Munich investor Target Partners. Alexander Ullmann, senior investment manager at BayBG added:
"HTS technology offers broad application possibilities, especially in energy and electrical engineering. Entry-level markets where larger demand volumes can be generated in the medium term are in the areas of grid technology (current limiters and cables) and industry (busbars and magnets)."
