The Mannheim based utility MVV Energie AG sold its stake in the venture capital fund Energy Innovations Portfolio AG & Co. KGaA. This was announced by the two companies on Thursday. The disposal of the venture capital-investment was realized by a management buy-out. MVV Energie had established the fund in the course of its corporate venture capital activities back in 2001.

Dr. Rudolf Schulten, CEO of MVV Energie AG stated that the management buy-out ensures continuity in the development of the mostly young technology-based companies that are held by the fund.

Christofer Dittmar, CEO of the managing partner of Energy Innovations Portfolio AG & Co. KGaA, believes in the bright future of the fund's eight investments in the cleantech sector: "Our international business network that we have built up over the years enabled us to find partners for financing the buy-out."

Mannheim, 27 December 2007