The Primo Climate fund, which counts LifeGate among the partners of its ecosystem, continues to grow with the entry of Dolomiti Energia.
How is the ecological transition achieved? Clear direction from policymakers is needed, different habits in society are needed, but to enable large-scale change, technologies are also required. Finding and nurturing these technologies is the mission that Primo Climate has set for itself — a climate tech fund managed by Primo Capital Sgr, backed by a network of partners that includes LifeGate. Launched in the summer of 2024, it today has a capacity of 48 million euros. A journey that in July marked an important milestone with the entry of the Trentino-based industrial group Dolomiti Energia into the investor base.
Getting into Primo Climate's portfolio takes more than a good idea. To be selected, startups must have developed an already mature technology that is demonstrably better in terms of greenhouse gas emissions and competitive from a purely industrial standpoint as well. And they must be Italian, or foreign companies with development plans in Italy. Beyond the capital needed to support demanding investments, such as the opening of new facilities, companies gain access to a network of partners and relationships that also includes LifeGate.
"The energy transition requires continuous innovation and the ability to bring new solutions to market quickly. Through our collaboration with Primo Climate we can closely observe the evolution of emerging technologies linked to decarbonisation and energy innovation, while also making our industrial expertise available to assess their applicative potential and support ventures that create new opportunities for economic and employment development in Trentino as well," Stefano Granella, CEO of Dolomiti Energia, explains to LifeGate.
Inevitably, an energy utility focuses its attention above all on those working on decarbonisation, energy efficiency and innovation in the production, management and use of energy. The quality of the technology is a necessary but not sufficient condition, Granella is nonetheless keen to stress: "We always assess the entrepreneurial team's ability to transform a good idea into a project with solid governance that can be scaled."
"For us it is not simply a matter of supporting the growth of promising startups, but of helping to create the conditions for good seeds to develop into fruits that generate value for the territory, for the energy system and for the communities in which we operate," Granella continues. The Trentino-Alto Adige region boasts a very vibrant innovation ecosystem: Centro Studi Tagliacarne and Unioncamere count 230 startups in 2024, more than two in ten of which are led by people under 35. The ambition is to go a step further: complementing this scientific and entrepreneurial expertise with a network of investors and industrial partners capable of accompanying startups in their growth and market entry.
"We want to make available our knowledge of the territory and our national role as an integrated industrial group to help bring out the ideas and skills that originate in Trentino," the CEO confirms. The presence of a Dolomiti Energia representative on the fund's advisory board, he concludes, will also serve to "signal entrepreneurial and project opportunities consistent with Primo Climate's objectives, fostering connections between innovators, investors and the productive world."