Rotterdam-based renewable energy startup FuelFWD has secured €1 million in seed funding from Value Factory Ventures. The funding will support the company's growth and product development.
- Founded in 2022 by Menno van der Zalm and Vincent Tribou as a spin-out from the technology lab and venture studio Docklab, FuelFWD provides digital solutions for the renewable fuels sector.
- FuelFWD’s AI-powered software automates compliance, replacing manual processes and reducing costs while minimizing non-compliance risks for biofuel and e-fuel producers and traders.
- The solution functions as both SaaS and PaaS, offering a digital fuel passport for accurate traceability and safeguarding the value of renewable fuels.
Details of the deal
- The seed round was led by Value Factory Ventures, a Dutch venture capital firm specializing in early-stage agrifood and climate tech startups, with an initial investment range of €200,000 to €1 million.
“We’re thrilled to add FuelFWD to our portfolio. It perfectly aligns with our investment focus on startups that play an active role in combating climate change through groundbreaking solutions,” claims Johan van Heusden, CFO of Value Factory Ventures.
- Existing investors, including Docklab Ventures and the Port of Rotterdam, participated in the round.
- FuelFWD will use the funds to enhance its software, expand traceability features, and scale operations in the renewable fuels market.
