Switchgear, the equipment that switches and protects electricity networks, has long been insulated with SF6, a gas that the EU's F-gas rules are phasing out. Nuventura, a Berlin company, designs gas-insulated switchgear that uses dry air instead and licenses the design or sells key modules to manufacturers.
The European Innovation Council granted €2,480,188 towards a €3.54 million project that ran from November 2022 to October 2025, and the EIC Fund joined a €25 million Series A in September 2023. According to the CORDIS report, the team built prototypes of its nu2 utility-grade platform but could not finish third-party type tests because of a "delay in obtaining the slots", pushing them to April 2026. That month the electrical group Lucy Group completed the acquisition of 100% of Nuventura's shares.
Company file
- Legal entity
- Nuventura GmbH, Berlin
- Managing director and CTO
- Manjunath Ramesh
- Products
- SF6-free gas-insulated switchgear designs and core modules
- Named partners
- Westnetz, Stockholm Metro, Acciona Energy, CO7 Technologies and others
- Investors before sale
- Mirova, Forward.one, EIC Fund, IBB Ventures, ADB Ventures, Future Energy Ventures, DOEN and others
- Owner
- Lucy Group (Lucy Electric), since April 2026
- EIC project
- 1 Nov 2022 to 31 Oct 2025
Where Nuventura Stands Today
Nuventura is now part of Lucy Electric, the switchgear business of Lucy Group, which said the deal "enables market entry into the primary switchgear space". No price was disclosed. Nuventura's partner page offers manufacturers either complete panels or pre-tested core modules, promising entry into the SF6-free market in under a year, and lists partners in Germany, Austria, Spain, Portugal and Asia. It says its solutions are type-tested to IEC 62271.
The Technology: Air Instead of SF6
The CORDIS report describes the nu2 platform with a three-position switch and a vacuum circuit breaker, mechanical and functional tests, dielectric and temperature-rise tests, and a 24 kV double-busbar prototype ready for internal testing. It calls the 24 kV double-busbar version "the pragmatic first step" to market, matching the voltage range where the EU ban on SF6 in new equipment began in 2026, according to the company's regulation page.
"The switchgear market is undergoing the most fundamental technology shift for decades."
Manjunath Ramesh, managing director and CTO, Nuventura, April 2026What the EIC Project Promised, and What CORDIS Shows
The project promised "novel dry air switchgear technology to reduce industry's dependence on SF6". It delivered designs, prototypes and part of the testing. The external type tests needed for utility sales were not completed within the project and were rescheduled for April 2026, the month of the sale.
- Utility-grade platform prototypesDeliverednu2 built and shown.
- Third-party type testsLateMoved to April 2026.
- Follow-on investmentDelivered€25M Series A.
- Independent companySoldTo Lucy Group, 2026.
What Has Happened Since the Award
The September 2023 Series A was led by Mirova with Forward.one and the EIC Fund as new investors, to expand the product range and "create global manufacturing opportunities". Two and a half years later the shareholders, the EIC Fund among them, sold the company to Lucy Group.
The Money
Neither the sale price nor what the EIC Fund received has been published. Nuventura's accounts are filed in Germany but not freely displayed.
What cannot be checked
The price Lucy Group paid, whether the EIC Fund made or lost money, whether the April 2026 type tests were passed, and how many switchgear units Nuventura's partners have sold are not public.
Why Europe Should Care
The EU is banning SF6 in new switchgear, and the EIC funded a Berlin company building an alternative. That company now belongs to Lucy Group, which says the deal will speed global adoption of its technology.
What the project promised
Dry-air switchgear to reduce industry's dependence on SF6.
What the record shows
Prototypes built, type tests delayed, a €25M round with the EIC Fund, and a sale to Lucy Group in 2026.
The Verdict
An exit as the market opened
Nuventura's EIC project advanced its product but left the decisive type tests unfinished. As the EU's SF6 ban took effect, the company was sold; what its investors, including the EIC Fund, received is not public.
Nuventura, Lucy Group and the EIC have not been asked for comment for this article. It is based entirely on company statements, trade press and EU project data, linked throughout.
