Eindhoven-based EIT InnoEnergy, an innovation engine for sustainable energy across Europe, announced on Wednesday, that three new investors are joining its cap table as shareholders.
The new investors are:
- Austrian-based OMV aims to become an integrated sustainable chemical, fuels, and energy company;
- Romanian integrated energy company OMV Petrom;
- The Netherlands-based investment company, ACB Participaties B.V.
The new shareholders have expanded EIT InnoEnergy’s investor base, adding to the 2023 private placement round of over €140M in fresh equity.
Fund utilisation
The use of proceeds will be similar to last year’s private placement:
- Increase new deal flow.
- Accompany the current 200 portfolio companies in their growth, especially relevant in the “dry” current capital markets.
- Increase the launch of new industrial champions, capturing opportunities from the new regulatory NZIA (Net Zero Industry Act) framework.
- Accelerate the expansion in the US.
Diego Pavia, CEO of EIT InnoEnergy says, “The inclusion of these three shareholders is yet another demonstration of trust in InnoEnergy’s ability to fast-track the sustainable energy transition and reach Europe’s reindustrialisation goals. Industrial investors are finding new pathways for their acceleration and contribution to the energy transition.”
“OMV and OMV Petrom’s commitment towards net zero is a compass for many of their peers. InnoEnergy deeply believes that the speed of the energy transition will be higher with our partner companies accelerating their transformation. A concerted effort is needed from all sectors, and we are here to support such transitions,” adds Pavia.
Appoints new CEO for US market
The announcement comes a few days after announcing Ryan Dings as the new CEO for the US market.
Dings, who brings more than 15 years of cleantech experience to the position, will be responsible for leading the US market for EIT InnoEnergy and growing the Boston-based team.
He will play a major role in US investment portfolio identification and growth; as well as creating a fertile environment for knowledge, innovation, industrialization and investment collaboration with the European market.
Existing investors
The new investors join the 35 other existing shareholders representing the industrial, financial, training, and digital sectors.
It include: AGH, Augur SCMT, Capgemini, CEA, EDF, ENGIE, Esade, Grenoble INP-UGA, Groupe Idec, ING, Karlsruhe Institute of Technology, Koolen Industries, KTH, KU Leuven, Naturgy, NIIT, Politechnika Śląska, Pulse – CMA CGM Energy Fund, Rafako Grupa PBG, Renault Group, Santander CIB, Schneider Electric, Siemens Financial Services, SIPLEC E.Leclerc, Société Générale, Stena Recycling, Técnico Lisboa, TOTAL, TU/e, Universitat Politecnica de Catalunya, Universität Stuttgart, Uppsala Universitet, VITO, Volkswagen Group, and Wroclaw University of Science and Technology.
Anne-Marie Rakhorst of ACB Participaties B.V., an EIT InnoEnergy Supervisory Board Member, says, “If you want to fast track the energy transition, then you invest in InnoEnergy. It’s time to scale, it’s time to go big.”
EIT InnoEnergy: What do you need to know?
Founded in 2010 and supported by the European Institute of Innovation and Technology, EIT InnoEnergy is a central force in the energy transition, driving sustainable innovation with technology, business model expertise, and skills.
The firm supports innovations in energy storage, transport, renewables, efficiency, industries, smart grids, and sustainable urban development.
InnoEnergy boasts a portfolio of over 200 companies, projected to generate €110B in revenue and save 2.1G tonnes of CO2e by 2030. These companies have collectively raised over €25B in investment.
The organisation spearheads three strategic European initiatives: the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Center (EGHAC), and the European Solar Photovoltaic Industry Alliance (ESIA).
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