Amber Capital invested USD 3 million in EcoVille, a diversified renewable energy group based in Armenia.

Proceeds of the investment will support to increase production capacity of the group enabling EcoVille to expand its operations regionally and enter new markets such as energy trading and electric mobility.

The investment will also support EcoVille to enhance its environmental, social and the corporate governance practices and bring additional jobs not only to the capital, but also the various regions of Armenia.

Vardan Hovsepyan, co-founder and CEO of EcoVille, said that this partnership opens up tremendous opportunities for EcoVille’s growth and development.

“The investment from Amber Capital will be instrumental in driving our international expansion and launching new production lines. We have set ambitious goals for the future and intend to utilise the funds to strengthen our position as a leader in the renewable energy sector as well as diversify our offerings to the customers,” he said.