Ikea Greentech Makes 2.8M Investment in Alelion Batteries

Swedish furniture maker Ikea announced that its venture capital armhas invested US$2.8 million in Alelion Batteries marking the firm’sfirst investment.

Established to invest in innovative clean-tech companies, Ikea Greentech has US$70.1 million at its disposal.  This first investment makes Ikea thesecond largest investor in Alelion Batteries — a manufacturer of energy storage devices.

Beyond the new cleantech investment firm, Ikea is already making strides in clean energy.  The company owns 52 wind turbines, and has begun to install geothermal systems and solar panels in and on its stores.

The growing commitment to reducing their carbon footprint has not affected Ikea’s profits. According to Wired, Ikea’s 2009 profits were up 11 percent.

“We are conscious of our impact on people and the environment, so wefeel duty bound to act responsibly in all we do,” chief executive Mikael Ohlsson.

Image Credit: Oimax via Flickr

Original Article on EnergyBoom





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