The Netherlands – EIT InnoEnergy has successfully concluded a private placement round that raised more than €140 million in equity. This round saw participation from both new strategic players, including Societé Generale, Santander CIB, PULSE – CMA CGM Energy Fund, Renault Group, Stena Recycling, and NIIT, as well as existing shareholders such as Siemens Financial Services, Schneider Electric, Capgemini, Volkswagen Group, ING, Koolen Industries, GROUPE IDEC, and Engie.
The funds raised in this round will be directed toward several key objectives, including increasing new deal flow, supporting the growth of the current 200 portfolio companies, accelerating the launch of new industrial champions (like InnoEnergy company builders) to leverage opportunities created by new regulatory frameworks, and expanding operations in the United States.
Advancing Green Innovation
InnoEnergy specializes in early-stage innovative technologies and teams in clean tech, which often require substantial capital expenditure (CAPEX). The organization plays a pivotal role in accelerating, de-risking, and enhancing global business cases through its extensive ecosystem of more than 1,200 partners. This ecosystem encompasses industrial players of various sizes, investors (both public and private, equity and debt), academic institutions, research centers, and public administration.
Currently, InnoEnergy boasts a portfolio of 200 companies, including three unicorns, all poised to generate €110 billion in revenue and collectively save 2.1 billion tonnes of CO2 by 2030. These companies have already raised €9.7 billion in investments. This successful private placement round reinforces InnoEnergy’s commitment to support Europe’s goal of achieving net-zero emissions by 2050.
A Vision for a Sustainable Future
Jacob Ruiter, CEO of EIT InnoEnergy Benelux, emphasized achieving the private placement’s objectives. He highlighted that new strategic players have joined InnoEnergy’s esteemed cap table, existing shareholders have reinvested, and the organization has secured substantial fresh financial resources to double its ongoing impact. Ruiter also recognized the unique opportunities presented by the accelerated energy transition in Europe and worldwide, along with an increased focus on re-industrialization in Western economies.
Mark Weustink, Head of Sustainable Investments at ING, underlined the strategic partnership with EIT InnoEnergy, reflecting ING’s commitment to accelerating the energy transition across Europe. He noted that InnoEnergy successfully supports innovative startups and scale-ups in achieving their growth ambitions while facilitating knowledge sharing among portfolio companies, investors, universities, and EU policymakers.
Kees Koolen, CEO of Koolen Industries, expressed pride in his organization’s renewed investment in InnoEnergy. Koolen Industries shares a mission with InnoEnergy to make clean energy accessible, affordable, and available to all. The collaboration will continue to accelerate the energy transition by investing early in critical innovations and maximizing value as supported startups accelerate their journey to commercial success.
Leading the Charge in Sustainable Energy
EIT InnoEnergy is recognized as Europe’s top impact investor in cleantech, actively contributing to global efforts to reduce emissions and enhance climate resilience. The organization operates at the forefront of the energy transition, driving innovation in sustainable energy and bringing the technology, business model innovation, and expertise necessary to accelerate the green deal.
EIT InnoEnergy’s impact is evident in its top rankings, including being the most active investor in the energy sector in 2022 by Pitchbook, one of Europe’s top 10 most active deep tech investors in 2023 by Sifted, and Europe’s leading impact investor in cleantech in 2022 by Startup Genome. The organization supports innovations spanning various areas, such as energy storage, transport and mobility, renewables, energy efficiency, hard-to-abate industries, smart grids, and sustainable buildings and cities.
Moreover, InnoEnergy plays a pivotal role in several strategic European initiatives, including the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Center (EGHAC), and the European Solar Photovoltaic Industry Alliance (ESIA).
Established in 2010 and supported by the European Institute of Innovation and Technology (EIT), EIT InnoEnergy has a track record of screening over 7,000 start-ups, launching more than 300 products to market, and overseeing portfolio companies filing over 370 patents. The organization, with offices across Europe and in Boston, US, boasts a team of over 200 professionals dedicated to driving innovation and entrepreneurship across Europe.
