Danish wind giant Ørsted has bought a $1.65 million (£1.2m) stake in a green financial products company.
It became a major shareholder in IncubEx’s recent $5 million (£3.6m) fund raise, with Søren Scherfig, Head of Markets and Senior Vice President at Ørsted joining the board of the company.
IncubEx works with European Energy Exchange and other service providers and stakeholders to design and develop new financial products in global environmental, reinsurance and related commodity markets.
The company is 29.08%-owned by renewable fuels group Aggregated Micro Power Holdings.
Mr Scherfig said: “Ørsted‘s vision is a world that runs entirely on green energy and I look forward to working with IncubEx. We know the company as an innovative frontrunner, building and aligning commodity products to meet the market demand.
“Our co-operation represents an opportunity for us to accelerate the maturity of these global markets and ultimately the green transition.”