EIT InnoEnergy, an innovation engine in sustainable energy, has completed its private placement round and raised over €140m ($150m) of equity.
Investors in this round are new strategic players such as Societe Generale, Santander CIB, Pulse – CMA CGM Energy Fund, Renault Group, Stena Recycling, and NIIT.
Existing shareholders like Siemens Financial Services, Schneider Electric, Capgemini, Volkswagen Group, ING, Koolen Industries, Groupe IDEC, and Engie also participated in the round.
The proceeds will be used to increase new deal flow, accompany the current 200 portfolio companies in their growth, accelerate the successful launch of new industrial champions such as InnoEnergy company builders, capture the opportunities created by new regulatory frameworks, and boost the expansion in the US.
InnoEnergy’s deal flow is in early-stage innovative technologies and teams in clean tech, normally capex-heavy. It accelerates, de-risks, and boosts global business cases through its unique and trusted ecosystem of more than 1,200 partners.
InnoEnergy currently has a portfolio of 200 companies, three of which are unicorns, on track to generate €110bn in revenue and save 2.1G tonnes of CO2e accumulatively by 2030. Collectively, these companies have raised €9.7bn in investment to date.
This private placement round accelerates its 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.
“The accelerated energy transition in Europe and in the world, and an increased re-industrialization ambition in the Western world are unique opportunities for InnoEnergy, its portfolio companies and our trusted ecosystem partners,” Diego Pavia, CEO of EIT InnoEnergy, said.