RWE, Bankhaus Lampe Cooperate on Renewable Startups, FTD Says

RWE AG (RWE) and Bankhaus Lampe KG plan a cooperation to finance startup companies working on renewable energy and storage technology, Financial Times Deutschland reported, without saying where it got the information.

Lampe is contributing 25 million euros ($34 million) to an RWE investment fund, which after a contribution from the German utility will have a volume of more than 115 million euros, the newspaper said. The German private bank will take 25 percent in a partner company called Innogy Venture Capital GmbH and get a seat on the investment board, FTD said.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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