European countries are doubling down on their efforts for creating a sustainable and carbon-neutral economy. According to the EEA, “The European energy system is undergoing rapid changes to set the EU economy on a low-carbon and resource-efficient path. Renewable energy is instrumental to this transformation. EU efforts to double the share of renewable energy in its consumption have paid off, having reduced significantly the amount of fossil fuels used and their associated greenhouse gas emissions.”
A number of European startups are also playing their part in helping the EU achieve a sustainable future. UK-based battery storage and electric vehicle operator Zenobe Energy is one such example. It recently raised £150M (approx €167.6M) in a fresh round of funding from Infracapital, the infrastructure equity investment arm of investment manager M&G.