EIT InnoEnergy wins the largest financial institution shareholder, ING

0

Banking heavyweight ING has become the first financial institution shareholder of EIT InnoEnergy, the innovation engine for sustainable energy across Europe supported by the European Institute of Innovation and Technology (EIT), a body of the European Union.

ING is the first financial institution shareholder of EIT InnoEnergy

“Motivated not only by the urgent threat of climate change, but also by the belief that sustainability is a key driver of value, ING is constantly setting new goals to help transition the economy,” the bank said.

“The investment in EIT InnoEnergy demonstrates ING’s commitment to supporting the energy transition.”

The other shareholders of the company are Volkswagen, TotalEnergies, Naturgy and EDF.

Since 2010, EIT InnoEnergy has invested €560 million in over 380 companies with an expected combined revenue of over €16 billion by 2026. Its investments include lithium-ion battery manufacturer Northvolt , ultracapacitor energy storage solution provider Skeleton Technologies, mobility solutions innovator Hardt Hyperloop and new integrated digital steel mill H2 Green Steel.

EIT InnoEnergy currently supports 30 start-ups in the Benelux and 350 others in Europe.

It also runs a master’s program, with over 1,400 students having completed it to date.

“Sustainability, energy innovations and the energy transition are priority areas at ING, as evidenced by our commitment to the Net-Zero Banking Alliance and the way we align our portfolio with net-zero climate objectives,” says Gido van Graas , global head of new energy technologies at ING.

Share.

Comments are closed.