Czech energy group ČEZ invested in British start-up Ember focused on zero-emission transport

Energy group ČEZ has invested in British start-up Ember, which focuses on zero-emission intercity transport. The company operates electric buses and is building a network of charging stations powered primarily by renewable sources. In an investment round co-led by Inven Capital, the investment fund of the ČEZ Group, Ember secured the equivalent of 324 million crowns from investors to fund further development. The ČEZ Group announced the investment in a press release.

Ember was founded in the United Kingdom in 2020 by Keith Bradbury and Pierce Glennie. It currently operates 24 electric buses in Scotland, serving more than 20 cities and towns. The company is also building its own network of ultra-fast chargers, designing optimal service routes and working with vehicle manufacturers on their development.

„With its investment in Ember, Inven Capital is building on its previous successful investments in clean mobility, such as Driivz. The transition to zero-emission transport is one of the key challenges of the near future, and ČEZ, as a major energy player, naturally wants to be part of it,“ said Tomáš Pleskač, a member of the ČEZ Board of Directors and head of its New Energy division.

He said Ember had attracted the Czech energy group with its comprehensive solution.

The partly state-owned energy group ČEZ operates more than 670 charging stations for electric vehicles in Czechia. It is also involved in electrifying public transport in cities and helps companies introduce e-mobility.

In its current Series A investment round, Ember secured £11 million (approximately CZK 324 million) from investors to increase the number of electric buses and renewable-powered chargers, and to develop its technology platform. In addition to Inven Capital, the round also included the AENU and 2150 funds, which specialise in supporting climate-conscious start-ups.

Ember is currently developing five new charging stations based on a pilot project in Dundee, Scotland, which allows a single vehicle to draw power at up to 600 kilowatts, much of it from nearby wind farms. Ember will also soon take delivery of its first batch of next-generation buses with a range of more than 500 kilometres. The founders say Ember’s technology platform is designed to be rolled out in other countries with only minor modifications.

The strategy of the ČEZ Group’s venture capital fund Inven Capital is to invest in innovative, fast-growing clean technology start-ups focused on reducing carbon dioxide emissions. It primarily targets investment opportunities at later stages of growth. Since 2015, it has invested in 17 companies, and has already fully or partially exited five of them.