EIT InnoEnergy Secures Over €140m To Fuel The Energy Transition

Diego Pavia, CEO of EIT InnoEnergy (Photo © EIT InnoEnergy)

Major players across industries invested in this private placement round to increase new deal flow, accelerate the launch of new industry champions and boost EIT InnoEnergy’s expansion in the US.

With 200 companies already in its portfolio – three of which are unicorns – the capital raised puts InnoEnergy in a unique position to increase its deal flow and continue accompanying these companies which are on track to generate €110 billion in revenue and save 2.1G tonnes of CO2e by 2030. 

“Altogether we have secured sufficient fresh financial resources to double our on-going impact. The accelerated energy transition in Europe and in the world, and an increased reindustrialization ambition in the Western world are unique opportunities for InnoEnergy, its portfolio companies and our trusted ecosystem partners,” said Diego Pavia, CEO of EIT InnoEnergy.

The new strategic players joining this €140m round include Societe Generale, Santander CIB, PULSE – CMA CGM Energy Fund, Renault Group, Stena Recycling and NIIT. Existing shareholders Siemens Financial Services, Schneider Electric, Capgemini, Volkswagen Group, ING, Koolen Industries, GROUPE IDEC and Engie all participated in the round too.

Next to increasing its deal flow, InnoEnergy will also use the capital to accelerate the launch of new industrial champions, capture the opportunities created by new regulatory frameworks and boosting its expansion in the US.

Currently, InnoEnergy’s deal flow is in early-stage innovative technologies and teams in clean tech, where it accelerates, de-risks and boosts global business cases through its ecosystem of more than 1200 partners. 

Having enshrined the 2050 net zero objectives in the Climate Law, the latest round supports InnoEnergy’s ambitions in reaching Europe’s 2050 net zero objectives

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