Administration of Equity Investment in Nuventura GmbH

The transaction involves the administration by the Asian Development Bank (ADB) of an equity investment of up to the Euro equivalent of $3,500,000 including an initial investment of 1,000,000, approximately $1,180,000, in Nuventura GmbH (Nuventura) in Germany to expand its operations in developing member countries (DMCs) with an initial focus on the People's Republic of China (PRC) market and India as a subsequent target market to be provided by the ADB Ventures Investment Fund 11 under the ADB Ventures Financing Partnership Facility. ADB will provide financing to Nuventura to be used by its Singapore subsidiary, to be set up before the closing of the investment, in the form of a convertible loan agreement between Nuventura and ADB. The balance of the approved equity amount may be invested in subsequent fundraising rounds that Nuventura is expected to undertake. Consistent with the establishment arrangements for the fund, ADB will not invest its own capital alongside the fund.Nuventura, a company focused on developing advanced and sustainable gas insulated switchgear (GIS) technology, is expanding into Asia, in particular the PRC. Switchgear units are a critical part of electricity grid infrastructure and, among other things, prevent electrical accidents and fires. Nuventura's core technology replaces sulphur hexafluoride (SF6) one of the most harmful greenhouse gases but widely used as an insulating medium with zero-emission dry air. Nuventura's sustainable switchgear will be deployed throughout the transmission and distribution systems of electricity utilities, and in medium-to-large commercial or industrial facilities. The company's mission to promote emission-free switchgear and reduce the greenhouse gas emissions of the power transmission and distribution industry aligns with ADB's operational priorities (OPs), particularly OP3 tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability in Asia and the Pacific.