Construction News

17/06/2015

ESB Novusmodus Sells Stake In Lumicity

Lumicity's management team and RWE Supply & Trading, a division of RWE AG, have acquired ESB Novusmodus' stake in Lumicty, the specialist Agritech Energy Services provider.

ESB Novusmodus is a Cleantech Fund set up by Irish utility firm ESB with a view to investing in companies and projects involved in energy generation from renewable sources, the technology behind such generation, as well as energy efficiency and smart grid technologies.

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Jerry O'Sullivan, Deputy Chief Executive, ESB, said: "The ESB Novusmodus fund allows ESB to remain at the forefront of renewable innovation and research, whilst providing a positive return for the company. This sale, the first realisation from the portfolio, illustrates that strategy in practice. We wish Lumicity well in the next step of their journey."

(CD/JP)

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