News

P21 GmbH Receives Financing To Develop Fuel Cost Savings For Mobile Operators

May 14, 2009 by Jeff Shepard

Yellow&Blue Investment Management is leading a €10 million financing round in P21 GmbH to support the rollout of energy solutions for mobile operators to cut fuel costs and increase the use of renewable energy. Yellow&Blue, a venture capital firm specializing in clean energy investments, has led the financing round together with P21 management and existing investors Target Partners and Conduit Ventures.

P21 was established in 2001 through a management buy-out from Vodafone and currently provides the hydrogen-powered PEM fuel cell system to mobile operators and equipment suppliers to assure uninterrupted electrical power supply for telecom towers and base stations (BTS). Recently the company has expanded its product portfolio with energy saving solutions. P21 operates in the Middle East & Africa, Asia and Europe where it is implementing its solutions that optimize the use of diesel generator, fuel cell systems and renewable energy sources such as solar and wind.

Wolfgang Essig, CEO of P21: said, "We are excited to have Yellow&Blue as a new shareholder and are keen to leverage their experience building international operations. By lowering costs and effectively integrating renewables we have created strong demand for our energy management solutions. This funding will help accelerate commercial rollout with key customers in our target markets."

Dr. Albert Fischer, Managing Director of Yellow&Blue: "I have been impressed by the team and their understanding of local level energy needs. P21 energy solutions are helping mobile network operators cut costs, increase renewable energy use and reduce greenhouse gas emissions."

Waldemar Jantz, Chairman of the Board of P21 GmbH and representative of the largest shareholder, Target Partners in Munich, affirms: "With Yellow&Blue P21 has found a strong partner, which has excellent knowledge in the clean energy sector." John Butt, Managing Director of Conduit Ventures Ltd., London, adds: "Together with P21’s solid investor base they contribute significantly to accelerate and broaden the business in P21’s global markets."