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Corporate VCAllocates capital directlyLAST VERIFIED Oct 2026 · 7 SOURCES

Iren UP Cleantech Venture

Corporate venture capital programme of Iren S.p.A.

Also known as Iren UP, IREN UP, Iren Corporate Venture Capital

CVC programme of the multiutility Iren (launched 2018): €100k–2m minority stakes in Italian cleantech start-ups, plus fund investments (Tech4Planet, MITO Tech Ventures, Atlas AI VB Fund I).

HEADQUARTERS
Reggio Emilia, Italy
FOUNDED
2018
AUM
—
OUTSIDE CAPITAL
No — own capital only
TEAM LISTED
1 people

FOCUS

STAGES
SeedGrowth
SECTORS
Climate & EnergyMobility & LogisticsIndustrial & ManufacturingArtificial Intelligence
ASSET MIX
Venture capitalFunds (as LP)
GEOGRAPHY
Italy

WHAT IT IS

Corporate VC. A corporation investing from its own balance sheet, usually with strategic goals.

ABOUT

Iren UP is the corporate venture capital programme of Iren S.p.A., the multiutility based in Reggio Emilia, launched in July 2018 with about €20m planned for its first three years. Iren invests directly, with agreements negotiated by the parent company, in minority stakes in Italian clean-technology start-ups (waste, utility networks, mobility, value-added services) at seed and growth stage, through equity, equity instruments, options or convertible financing, with no fixed exit horizon. Since 2022 it has also invested indirectly: through the Tech4Planet hub, as an investor in MITO Tech Ventures (first closing 2024) and with a €3m limited-partner commitment to Atlas AI VB Fund I (reported March 2026).

INVESTMENT THESIS

Minority stakes in Italian cleantech start-ups with industrial synergy with Iren’s businesses (waste, utility networks, mobility, value-added services); seed (prototype or patent) and growth (post-seed or at least €1m turnover) companies; indirect exposure through specialised VC vehicles.

PORTFOLIO (6)

  • Enerbrain
    Climate & Energy
  • i-TES
    Climate & Energy
  • Re Mat
    Climate & Energy
  • Tech4Planet (CDP Venture Capital technology-transfer hub; indirect investment)
    since 2022
  • MITO Tech Ventures (fund investor)
    since 2024
  • Atlas AI VB Fund I (LP, €3m)
    since 2026

TEAM

  • Enrico Pochettino
    Head of Innovation, Iren Group · source

LINKS

FAQ

Iren UP Cleantech Venture is a corporate venture arm based in Reggio Emilia, Italy, founded in 2018.

Yes. Iren UP Cleantech Venture invests directly in private companies. It also commits capital to third-party funds as an LP.

Iren UP Cleantech Venture invests at Seed and Growth stages in Climate & Energy, Mobility & Logistics, Industrial & Manufacturing and Artificial Intelligence.

Iren UP Cleantech Venture's stated ticket size is €100K–€2M.

Key people at Iren UP Cleantech Venture include Enrico Pochettino (Head of Innovation, Iren Group).

Iren UP Cleantech Venture's investments include Enerbrain, i-TES, Re Mat, Tech4Planet (CDP Venture Capital technology-transfer hub; indirect investment), MITO Tech Ventures (fund investor) and Atlas AI VB Fund I (LP, €3m).

Iren UP Cleantech Venture states that it accepts submissions through its official contact page.

No. Iren UP Cleantech Venture invests its own capital and does not raise money from outside investors.