Despite Europe’s ambitious climate goals, a paradox exists: growth-stage funding remains a major bottleneck, especially for energy infrastructure companies seeking to scale. To address this challenge, Antwerp-based Junction has closed its first fund at €115M, exceeding its initial target of € 100M. 

The fund has already secured backing from a robust network of prominent investors, including Keeling Capital, BNP Paribas Fortis Private Equity, the European Investment Fund, PMV, and the Belgian Growth Fund. Notable support comes from leading family offices — including AB InBev and Umicore owners — alongside distinguished technology entrepreneurs Jan-Willem Rombouts, Grégoire de Streel, and Jean-Guillaume Zurstrassen. The addition of Keeling Capital, a global specialist investment fund-of-funds, further strengthens our investor base and our potential for impact.

With the freshly injected capital, the fund will provide growth and buyout capital to European energy transition scale-ups and SMEs, targeting a crucial market segment lacking sufficient funding to accelerate growth.

How Junction accelerates the energy transition and combats climate change

Founded in the summer of 2022 in Antwerp, Junction is an Article 9 fund with a clear sustainability mission. Award-winning entrepreneurs Bruno Vanderschueren (ex-Lampiris) and Pieter-Jan Mermans (ex-REstore) established the fund alongside seasoned investment professionals Dirk Dewals (ex-Gimv) and Vincent Gregoir (ex-Inven Capital). The eight-person investment team has backed seven companies in strategic areas accelerating the energy transition: grid-enhancing technologies, B2B installers, sustainable buildings, energy management systems, and industrial decarbonisation. 

Vincent Gregoire, Principal at Junction, shared the fund’s commitment to the EU Green Deal with TFN: “At the highest level, we believe impact drives value alongside financial performance. As an Article 9 fund, we’re incentivised to ‘practice what we preach.’ This means maintaining a strong commitment to the EU Green Deal through rigorous work with portfolio companies on NetZero value creation plans and KPI tracking — and our financial incentives are directly tied to these targets.” 

Junction has already made significant strides in accelerating the energy transition. The fund has provided growth capital to European scale-ups and SMEs, crucial to the energy transition, growth, and industrialisation. It offers minority or majority growth capital, with equity investments up to €15 million per deal. 

Dirk Dewals, Managing Partner at Junction, summarises: “Climate change continues to advance, leaving tangible impacts on societies and personal wealth. Yet the energy transition isn’t just about fighting climate change. It’s a crucial opportunity for Europe to reduce its dependence on geopolitically sensitive carbon fuels and build European technology leaders with global reach — like Ampacimon, which has 50% of its order book in the USA. We firmly believe that electrification, especially in the B2B sector, will drive this shift, and we’re actively seeking enablers to accelerate this revolution.”

Investment highlights: Companies driving the energy transition

In a conversation with TFN, Gregoire shared the fund’s approach to its portfolio companies: “We actively support our portfolio companies through board positions. We provide strategic guidance, networking opportunities, and key hiring support while sharing our deep sector knowledge. We also help identify potential M&A targets. Through partnerships with entrepreneurs and applying our expertise, we create value and meaningful impact.”

With Ampacimon (BE) and Eneida (PT), the fund has invested in two international companies specialising in high- and low-voltage grid-enhancing technologies. These solutions enable cost-effective grid expansion and increased adoption of renewables and distributed assets.

For example,  Eternity (CH) develops software solutions in the DACH region that boost efficiency and digitalisation for renewable energy system installers, wholesalers, and manufacturers. Similarly,  EET (AT) offers a user-friendly, innovative plug-in battery solution for apartments and renters, enabling this underserved market to reduce energy bills and participate in the energy transition.

Furthermore, Hysopt (BE) provides a Software-as-a-Service solution for engineering and simulating complex HVAC systems in commercial and industrial real estate, optimising energy use and reducing carbon emissions. Belgian “De Tijd Changemaker” nominee Haulogy (BE) develops software solutions for Distribution System Operators (DSOs) and energy utilities, including asset and field services management and congestion/flexibility management tools. 

Through its recent buyout of Solora (BE), alongside co-investor BNP Fortis Private Equity, Junction has become the majority shareholder in a leading B2B provider of installation and maintenance services for commercial- and industrial-scale solar panel and battery storage systems across the Benelux and France.

Looking ahead: scaling beyond borders

As Dirk Dewals puts it, “Climate change continues to advance, leaving tangible impacts on societies and personal wealth. However, the energy transition is not solely about combating climate change. It also presents a pivotal opportunity for Europe to reduce its dependence on geopolitically sensitive carbon fuels and to build a couple of European technology leaders with global reach, such as Ampacimon, which has 50% of its order book in the USA. We firmly believe that electrification, particularly in the B2B sector, will play a crucial role in driving this shift, and we are actively seeking enablers to accelerate this revolution.”