• €4.3B Raised: EIT InnoEnergy’s cleantech portfolio secured €4.3 billion across 56 funding rounds in 2024, pushing forward energy transition efforts.
• Expanding Investments: 14 new cleantech start-ups joined the portfolio, including Geolinks (€1.5M investment) and Repono, focused on 100 GWh energy storage by 2030.
• Upskilling Workforce: Over 100,000 learners were trained through the Skills Institute, addressing the demand for skilled professionals in the clean energy sector.

EIT InnoEnergy, the European Union-backed leader in sustainable energy innovation, closed 2024 with €4.3 billion raised for its portfolio of cleantech start-ups and scale-ups, cementing its role as a key driver of the energy transition. These funds, secured across 56 investment rounds, showcase a commitment to advancing technologies like wave energy, green steel, and battery solutions despite global economic challenges.

Co-Founder and Innovation Director Elena Bou highlighted the urgency:

“Although global cleantech investment was projected at $2 trillion last year, this is only half of what’s needed to meet net zero targets. During what has been a dry year for the cleantech industry, InnoEnergy has pushed forward, actively supporting our portfolio and derisking their business cases with the support of our shareholders and wider ecosystem.”

In 2024, InnoEnergy added 14 new cleantech companies to its portfolio of over 200 ventures. Investments included:

• €1.5M in Geolinks to advance carbon capture monitoring.
• Repono’s launch, targeting 100 gigawatt hours of energy storage by 2030 to stabilize Europe’s green energy grid.

These initiatives reinforce InnoEnergy’s commitment to scaling solutions for hard-to-abate sectors and supporting Europe’s net-zero goals.

Related Article: EIT InnoEnergy and Demeter Launch €500 Million Fund for EU’s Battery Supply Chain

Strategic Partnerships and Funding Expansion

InnoEnergy’s shareholder network expanded with the addition of OMV, OMV Petrom, ACB Participaties B.V., and Boryszew, bolstering the €140M private placement completed in 2023. This strengthened financial backing enables InnoEnergy to accelerate its impact in Europe and the US.

Workforce Development

The Skills Institute trained over 100,000 professionals in the battery industry and launched the Skills Institute Solar Academy, addressing the increasing demand for skilled clean energy workers. Additionally, the rebranded InnoEnergy Masters+ program has produced over 2,000 graduates, with 10% contributing expertise within InnoEnergy portfolio companies or shareholder organizations.

These efforts position EIT InnoEnergy as a leading innovation engine in sustainable energy, ensuring its portfolio continues to drive environmental, economic, and social impact.

“We need to support our cleantech champions and secure their scaling up so their solutions create positive environmental, economic and social impact,” Bou emphasized.

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