Vestas will back promising sustainable energy start-ups after forming a venture investments arm.

The turbine giant said Vestas Ventures will invest in promising early-stage businesses in sectors as diverse as ‘power to X’ technologies such as green hydrogen, energy storage, and sustainable and advanced materials, as well as its own core wind power sector.

The Danish group said its four-decade track record in wind innovation – and early success with backing Swedish battery pioneer Northvolt – means it is well-placed to play a role either as a lead or follow-on investor.