EIT InnoEnergy Secures Over €140 Million in Private Placement Round
Major players from industrial, financial, training, and digital sectors invest in accelerating clean energy industrial innovation.
EIT InnoEnergy the leading innovation engine in sustainable energy, yesterday announced the successful completion of its private placement round of over €140 million of equity.
Investors in this round are new strategic players ( Societe Generale, Santander Corporate & Investment Banking, PULSE — CMA CGM Energy Fund, Renault Group, Stena Recycling AB, and NIIT ), and existing shareholders ( Siemens Financial Services, Schneider Electric, Capgemini, Volkswagen Group, ING, Koolen Industries, Groupe IDEC and ENGIE).
The proceeds will be used for increasing new deal flow, accompanying the current 200 portfolio companies in their growth, accelerating the successful launch of new industrial champions such as EIT InnoEnergy company builders capturing the opportunities created by new regulatory frameworks, and boosting the expansion in the US.
Accelerating, De-risking and Boosting Global Business Cases
EIT InnoEnergy’s deal flow is in early-stage innovative technologies and teams in clean tech, normally CAPEX heavy. EIT InnoEnergy accelerates, de-risks, and boosts global business cases through its unique and trusted ecosystem of more than 1200 partners.
The managed ecosystem incorporates industrial players of all sizes, investors (public and private, equity and debt), academia, research centers, and public administration. Since its inception in 2010, EIT InnoEnergy has provided support to global innovators through their full life cycle (from early stage to industrial scale), with a one-stop shop model.
EIT InnoEnergy currently has a portfolio of 200 companies, three of which are unicorns, on track to generate €110 billion in revenue and save 2.1G tonnes of CO2e accumulatively by 2030. Collectively, these companies have raised €9.7 billion in investment to date.
This private placement round accelerates InnoEnergy’s role in turning Europe’s ambitions to reach its 2050 net zero objective into a reality, after being the first economy in the world to enshrine it in climate law.
“New strategic players have joined EIT InnoEnergy’s outstanding cap table, several shareholders have reinvested, and altogether we have secured sufficient fresh financial resources to double our ongoing impact”, said Diego Pavia, CEO of EIT InnoEnergy.
Source: https://bit.ly/3P8FXOl
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