The Stevens & Bolton corporate team has advised Future Energy Ventures (FEV) on its investment in Piclo, a leading independent marketplace for flexibility services.
FEV is a leading global venture capital firm investing in the energy transition. Set up in 2016 and backed by E.ON, it invests in digital and digitally-enabled technologies and business models that have the potential to shape the future energy landscape with a strong focus on decarbonization.
Piclo, founded in 2013, develops and commercialises an online B2B marketplace for the trading of energy flexibility. Through their marketplace, they facilitate the integration of technologies such as renewable energy sources, batteries, and electric vehicles, which offers local flexibility to distribution and transmission networks.
Stevens & Bolton have previously advised FEV, but this transaction marks the first time where FEV have been the co-lead investor. This transaction was an £8.3m (US$10.1m) Series B fundraising round into Piclo.
The FEV team thanked the Stevens & Bolton team for "all their hard work on this journey" and "very much appreciated their support”.
Nick Atkins, lead Partner, commented: “It was a pleasure working with FEV on this Series B investment into an exciting company in a key market. We wish FEV and the Piclo team all the best for an exciting future of innovation at Piclo.”
The Stevens and Bolton corporate team was comprised of Nick Atkins, Rebecca Hunt and Jessica Gregson. In-house legal counsel for FEV was Dr. Tobias Rösner, Senior Legal Counsel at E.ON SE, the ultimate parent company of FEV.