EIT InnoEnergy
EIT InnoEnergy 2023 highlights
About us
1.1 Catalysing and accelerating the energy transition
1.2 Building global connections
1.3 Executive Board
1.4 Supervisory Board
Highlights of the year
2.1 EIT InnoEnergy secures over €140 million in private placement round
2.2 Global rankings – EIT InnoEnergy as the leading investor in energy in 2023
2.3 Elena Bou receives the inaugural Nobel Sustainability Trust Award
Industrial value chains
3.1.1 €500 million EBA Strategic Battery Materials Fund
3.1.2 One-Stop-Shop to EU Finance
3.1.3 Cooperation with EBRD
3.2.1 The European Commission renews partnership with EIT InnoEnergy’s EGHAC to accelerate and de-risk green hydrogen initiatives
3.2.2 New strategic cooperation in green hydrogen sector
3.2.3 European Green Hydrogen Investment Day
3.3.1 Europe in strong position to exceed goal of 30 GW annual PV manufacturing by 2025, according to the Alliance
3.3.2 ESIA
Highlights from our portfolio
4.1 Unveiling the Champions of Change – EIT InnoEnergy’s thriving portfolio
4.2 Portfolio estimated to save 2.1gigatonnes of CO2e between 2022 and 2030
4.3 Repono
4.4 Holosolis
4.5 Verkor Innovation Centre
4.6 FertigHy
4.7 H2 Green Steel
4.8 ElevenEs
4.9 Meva Energy
4.10 NexWafe
4.11 CorPower Ocean
4.12 Hardt Hyperloop
4.13 EcoBean
4.14 Nevomo
4.15 Scibreak
4.16 Swobbee
4.17 Hyperloop Companies Join Forces to Launch the First International Hyperloop Association
4.18 Sustainable Development Goals
Our events
5.1 The Business Booster 2023 Amsterdam
5.2 Master School Connect
5.3 Battery event in Paris
Human capital
6.1 Human capital
6.2 The launch of the InnoEnergy Skills Institute
6.3 InnoEnergy Skills Institute partners with NIIT to combat significant energy transition skills gap
6.4 ManpowerGroup and the InnoEnergy Skills Institute partner to upskill thousands of people for green jobs by 2025
6.5 Powering the Transition to Net Zero Economies Report
6.6 Green Energy Citycombining gaming and education through Minecraft
6.7 InnoEnergy Skills Institute reaches milestone of 50,000 upskilled learners to support a growing battery industry
6.8 NENY and 800 active learners
6.9 InnoEnergy and Schneider Electric sign partnership for talent development
6.10 Cultivating a generation of sustainability gamechangers
6.11 Real-world projects build on theoretical learning for students
6.12 Student entrepreneurs praise EIT InnoEnergy’s Battle of Green Talent
6.13 Twin brothers share a path to Total Energies for their Master’s thesis
6.14 Fuelling dreams and forging connections at The Business Booster
6.15 Connecting talent to industry during Career Impact Challenges
Diversity
7.1 Powered by diversity
7.2 Diversity, inclusion and equality in action
EIT InnoEnergy 2023 highlights
In a very dynamic worldwide economic landscape, 2023 saw EIT InnoEnergy continue building its position as an implementer of groundbreaking solutions supporting the reindustrialisation of Europe while also accelerating the decarbonisation agenda.
The pursuit of net-zero goals
Since 2010, InnoEnergy has been steadfast in its commitment to fostering the sustainable energy and industrial transition. Its ecosystem serves as a cradle for ambitious industrial entrepreneurs, determined innovators and aspiring students. Together with its shareholders and partners, InnoEnergy provides these game changers with the necessary resources, support services and mentorship to turn their visions into impactful realities.
This year’s Annual Review will delve into 2023’s standout achievements and their impact, whilst also shedding light on the overarching influence that the InnoEnergy ecosystem wielded through standout activities in the acceleration towards net-zero goals.
Private placement: Fresh resources to double the impact
One of the biggest achievements of 2023 was communicated in September, with the completion of InnoEnergy’s private placement. Six new strategic corporates joined InnoEnergy’s cap table, and eight existing shareholders reinvested. This resulted in €140 million of fresh equity. This financial and strategic new muscle allows InnoEnergy to double down its
on-going impact by increasing new deal flow; continuing to accompany the current 200 portfolio companies in their growth; accelerating the successful launch of new industrial champions; and enabling us to capture opportunities created by new regulatory frameworks. The valuation of InnoEnergy after this capital market round is well above US $1 billion, giving us the Unicorn status.
Industrial value chains:
InnoEnergy’s unique approach now used widely in Brussels During 2023 InnoEnergy continued executing the mandate from the European Commission to lead the European Battery Alliance (EBA mandate awarded in 2017), the European Solar PV Industry Alliance (ESIA mandate awarded in 2022) and the European Green Hydrogen Acceleration Center (EGHAC, since 2020). These three value chains continue creating new industrial GDP in and for Europe: 1TWh of annual domestic battery production which will result in €500 billion of additional GDP and 1.5 million added value jobs by 2030; 30GW of annual domestic PV production -ingots to modules- which will result in €40 billion of additional annual GDP and 400,000 direct new added value jobs by 2030; €100 billion of additional annual GDP on electrification of
hard to abate industries (steel, iron, fertilizer, eSAF), using hydrogen, which will result in 500,000 new added value jobs by 2030.
The leadership of these value chains will allow InnoEnergy to capture all the value pools created by the NZIA (Net Zero Industrial Act) approved by the European Commission, Parliament and Members States, where the tag line to remember is: 40% of EU demand by 2030 needs to be supplied by domestic production.
Company Builders: The tool for EU re-industrialisation, at speed
During 2023 InnoEnergy continued designing, creating and launching new industrial companies to capture the business opportunities created by the energy and industrial transition. GravitHy will produce 2.2 million tons/year of decarbonised iron with SOP in 2027, Europe needing 80 million tons of such a fundamental new commodity for producing decarbonised steel. Holosolis will produce 5 GW/year of PV cells and modules with SOP in 2026, Europe needing some 60 GW for feeding the tremendous demand linked to deployment of renewables to meet the Fit for 55 targets. FertigHy will produce 0.5 million tons of decarbonised fertilizer, where Europe needs some
33 million tons/year, with a shortage of suppliers since the Ukraine war, as Russia and Belarus were the main suppliers.
Our fleet of Company Builders, these industrial companies, replicable and feeding an increasing demand in Europe of decarbonised industrial products, need some €160 billion of equity and debt until 2030. With these companies, InnoEnergy is an early mover in the reindustrialisation of Europe.
Strong portfolio of innovative companies, with serious impact, recognised by top analyst
During 2023, InnoEnergy incorporated 16 new start-ups and executed 14 exits, ending the year with a portfolio of 180 companies, which are estimated to generate €110 billion in revenue and save 2.1G tonnes of CO2e accumulatively by 2030. Collectively, these companies have raised more than €25 billion in investment to date. Some outstanding examples are detailed later in this annual review.
According to the PitchBook Global league Tables for 2023, InnoEnergy is ranked as the most active investor in energy in 2023, globally. This recognition is a market testimony to the transformative technologies and groundbreaking projects we invest in.
The Business Booster
In October, InnoEnergy’s annual sustainable energy networking
event, The Business Booster, saw its portfolio companies come together with investors, industry leaders and policy makers.
The flagship event transformed Amsterdam into Europe’s meeting point for sustainable energy and industrial innovation and saw a record turnout of over 1,500 attendees coming together to accelerate The New Green Economy: Balancing Profit and Purpose.
Innovation Director and co-founder receives Nobel Sustainability Trust Award
In recognition of her sustained contribution to the promotion of sustainable energy start-ups, the Nobel Sustainability Trust (NST) and the Technical University of Munich (TUM) presented Elena Bou with its first ever Sustainability Award. Supported by the Nobel Sustainability Trust, the award recognises outstanding research and development work relating to sustainable energy and the economics of climate change.
It’s the ecosystem which delivers. Many thanks 2023 was a milestone year for InnoEnergy and its trusted ecosystem. These highlights provide a glimpse of our achievements over the past year, yet words alone cannot fully capture the dedication of every stakeholder in our ecosystem. Thank you for your steadfast contribution as we continue our collective mission towards achieving net-zero goals.
The valuation of EIT InnoEnergy after our capital market round is well above US $1 billion, giving us the Unicorn status.
DIEGO PAVÍA CEO,
EIT InnoEnergy
About us
EIT InnoEnergy operates at the centre of the energy transition and is the leading innovation engine in sustainable energy, bringing the technology and skills required to accelerate Europe’s decarbonisation goals.
1.1 Catalysing and accelerating the energy transition
Operating at the centre of the energy transition, we build connections worldwide, bringing together innovators and industry, entrepreneurs and investors, graduates and employers.
What we do
InnoEnergy brings people and resources together, catalysing and accelerating the energy transition. New ideas, products and solutions that make a real difference, and new businesses and people to deliver them to market.
How we do it
Our bespoke support to accelerate sustainable energy innovation, knows no borders or boundaries:
• Industry are linked with innovation and alumni, providing commercially attractive technologies spanning the energy value chain, and top talent to enhance innovation.
• Start-ups, scale-ups, and innovators receive tailor-made support to boost and de-risk business cases and speed up time to market.
• Students and learners have access to master’s programmes at 16 top technical universities and business schools.
• The global workforce have access to more than 35 courses, provided in 10 languages, to equip them with the skills
required to create a sustainable economy.
Our impact
As a result, we have built the largest sustainable energy innovation ecosystem in the world:
• We have supported 500+ sustainable energy innovations and our portfolio includes 200+ companies, all on track to generate €110 billion in revenue and save 2.1 gigatonnes of CO2e accumulatively by 2030.
• 90% of our start-ups already work with global brand names including ABB, BMW, EDF, Engie, Volkswagen, Galp, Schneider Electric, Siemens, Naturgy.
• Our InnoEnergy Masters+ has attracted students from almost 100 countries. We now have more than 2,000 graduates making an impact in the energy transition all around the globe.
Decarbonising Europe
We are also spearheading the way to a decarbonised Europe by 2050 through the leadership of three industrial Value Chains: battery storage, green hydrogen and solar photovoltaics.
These alliances bring together the knowledge and experience required to support large industrial projects, which directly impact the energy trilemma: reducing the cost of energy, limiting greenhouse emissions and increasing availability and security. Ultimately, these actions play a fundamental role in realising our goal of a carbon neutral Europe by 2050.
Our ecosystem
All this is made possible thanks to our rich network of more than 1,200 partners from 18 different countries. Together we act as a key vehicle for the energy transition and make up the ingredients needed to bring a constant pipeline of sustainable energy innovation to market.
Established in 2010 and supported by the European Institute of Innovation and Technology (EIT), we have offices and hubs across Europe and in Boston, US.
#1
Most active investor in energy 2023
Making an impact in sustainable energy
Top10
Active deeptech investor 2023
€110b
forecasted revenue of portfolio companies by 2030
1,200 partners
€25b investment raised by our start-ups
200+ portfolio companies
500+ innovations supported
300+ products launched
#1
Cleantech and Blue Economy Investor in Europe 2023
2,000 master's & PhD alumni Our impact Track record Top start-ups
2.1 gigatonnes of CO2e saved accumulatively by 2030
67,000 workers trained and upskilled
4 unicorns (companies valued US $1B+)
7 centaurs (companies valued US $100-999M)
58 ponies (companies valued US $10-99M)
1.2 Building global connections
Our strength comes from our wide network of partners. They are our experts, our service providers, the early adopters of innovative solutions, and the employers of our graduates. The InnoEnergy network includes our 35 shareholders, as well as 1,200 partners. All of them support our entrepreneurs and innovators with their experience and expertise. In return, they gain unrivalled opportunities to invest in new ideas and create commercial opportunities for new solutions. Together our partners represent industry, finance, and higher education – and all are key players within the energy sector.
Boston (USA)
1.3 Executive Board
DIEGO PAVÍA Chief Executive Officer
Under his leadership since 2010, InnoEnergy has become the leading organisation supporting innovation and entrepreneurship in sustainable energy. Previously, Diego headed multicultural working groups globally in the field of energy at SchlumbergerSema. He was also the CEO of Atos Origin.
CHRISTIAN MÜLLER
CEO InnoEnergy DACH Region
Christian held several management functions at Hoechst AG, acquired by Siemens AG in 2000, where he was involved in the commercialisation of technologies and services, and the creation of new businesses. He also managed the global Centre of Excellence for Chemical industry at ABB and joined InnoEnergy in 2013.
BART DE BEER
Chief Financial Officer
Bart has extensive experience working with multinationals, including Reed Elsevier and Cisco, where he held senior financial roles. Before joining InnoEnergy in 2011, Bart was the Chief Financial Officer of an international printing company.
KARINE VERNIER
CEO InnoEnergy France
Karine brings 20 years of experience in the global energy industry, having successfully led numerous programmes in the clean energy sector, including with ENGIE and GRTgaz. She founded two companies in the natural gas and digital sector and has managed a third company in the clean fuel sector. She joined InnoEnergy in 2021.
ELENA BOU Innovation Director & Co-founder
Elena Bou co-founded InnoEnergy in 2010. Since 2011, she has been the Innovation Director, leading the development of creating and accelerating new ventures and investment processes in sustainable energy. Elena is also Associate Professor at ESADE Business School.
FRANK GIELEN
Education Director
Frank has extensive experience in R&D, raising venture capital, and university-industry collaborative research and spin-off creation. He has held technical and management roles including AT&T Bell Labs, Alcatel, Tellium and iMinds. He is also a Professor at the University of Ghent.
MIKEL LASA
CEO InnoEnergy Iberia
Mikel has extensive experience in bridging research, business and education within the renewable energy sector. He was Head of Wind Turbine Technology at Apia XXI, and Head of Analysis and Design of Wind Turbines at the Spanish National Centre for Renewable Energy. He has also worked for Robert Bosch and Valeo. He joined InnoEnergy in 2010.
JACOB RUITER
CEO InnoEnergy Benelux
Jacob has held positions in a variety of energy-related companies. As Director of the Country Manager Energy Advisory of Benelux at DNV GL, he was responsible for energy and renewables activities in Benelux, Africa and Middle East. He has also held roles for Essent, Schlumberger and Grant Prideco.
LOWINA LUNDSTRÖM
CEO InnoEnergy Scandinavia
Lowina brings 25 years of experience in a wide variety of companies related to IT, Telecom and Energy. Prior to joining InnoEnergy, Lowina held the position as Executive Vice President Electricity System Operator at Svenska Kraftnät, the TSO in Sweden. Previous to that, she worked for Ellevio (former Fortum Eldistribution), where she was responsible for i.e. meter management, settlement, grid connections and B2B/B2C.
MARCIN WASILEWSKI
CEO InnoEnergy Central Europe
Marcin has been involved in the energy industry for 15 years. Since 2018 at ABB, he managed the energy and heavy industry sectors in Poland, the Czech Republic and Hungary. Previously, at PKN ORLEN, he was responsible for creating the energy segment. He has been a member of the Polish Committee of the World Energy Council since 2018.
1.4 Supervisory Board
HERVÉ BERNARD
Chairman of the Board, Independent
Mr. Bernard serves as Chairperson of the Board of Governors of the Joint Research Centre of the European Commission. Previously he was the Administrateur Général Adjoint at The French Alternative Energies and
KARL-FRIEDRICH ZIEGAHN
Vice Chairman of the Board, Independent
Mr. Ziegahn was recognised for his long career at the Karlsruhe Institute of Technology by being appointed a KIT Distinguished Fellow in 2020. Prior to that he was the Energy and Environment Programme Lead at Forschungszentrum Karlsruhe GmbH.
DANIEL DOBBENI Board Member, Independent
MAUD OLOFSSON Board Member, Independent
Mr. Dobbeni is Managing Director of ETHAN SPRLBVBA and prior to that served as President of 50Hertz Transmission GmbH, President of the European Network of Transmissions System Operator for Electricity and CEO of ELIA.
AXEL WEISHEIT
Board Member, Independent
Mr. Weisheit is a Director at the BadenWürttembergische Bank (BW-Bank) and Chairman of the Board of Trustees of the KIT Foundation at the Karlsruhe Institute of Technology.
COLETTE LEWINER
Board Member, Independent
Ms. Lewiner is the former Chairperson and CEO of SGN-Réseau Eurisys and a Director of EDF since 2014.
KEVIN ZANDER
Board Member, Siemens Financial Services
Dr. Kevin Zander, with a background in managerial positions at McKinsey and Commerzbank, currently serves as the Chief Risk Officer - Equity Finance at Siemens Financial Services.
Ms. Olofsson is the current President of the Swedish Tourist association and former Minister of Enterprise and Energy and Deputy Prime Minister of Sweden.
ANNE-MARIE RAKHORST
Board Member, Independent
Ms Rakhorst is an entrepreneur, investor and publicist in the field of sustainability. She founded Search, a consultancy and engineering firm and duurzaamheid.nl, a platform accelerating sustainable change. In 2000 she was named Business Woman of the Year.
MARCIN KOROLEC Board Member, Independent
Mr. Korolec is the former Polish Minister of Environment and served as the President of COP19. He is on the European Investment Bank’s Climate and Environment Advisory Council, is a Member of Meva Energy’s Supervisory Board and Vice President of Transport & Environment’s Board.
STANISŁAW TOKARSKI
Board Member, Independent
BLANCA LOSADA
Board Member, Independent
Ms. Losada is President of FORTIA ENERGIA and Vice-President of the Social Council at Universidad Politécnica de Madrid. She served as CTO and CEO of Gas Natural Fenosa Engineering and Chairwoman of the Board and Chief Executive Officer of Union Fenosa Distribucion.
Mr. Tokarski serves as an Expert at the Academy of Science and Technology (AGH) in Poland and is the former Vice President of Tauron S.A.
STEFAN ÖSTLUND
Board Member,
KTH Royal Institute of Technology
Mr. Östlund is a Professor and the Vice President of Global Relations at KTH Royal Institute of Technology.
LLUIS BATET
Board Member, Universitat Politècnica de Catalunya
Mr Batet is a skilled researcher in the field of nuclear energy. He has worked at the Technical University of Catalonia (UPC). From 2011 he took on the role of Director of the Master’s degree in Nuclear Engineering.
Our trusted ecosystem of 1,200 partners and 35 shareholders. Highlights of the year
2.1 EIT InnoEnergy secures over €140 million in private placement round
EIT InnoEnergy announced in September the successful completion of its private placement round of over €140 million of equity to accelerate clean energy industrial innovation. Investors in this round are new strategic players (Societe Generale, Santander CIB, PULSE – CMA CGM Energy Fund, Renault Group, Stena Recycling and NIIT), and existing shareholders (Siemens Financial Services, Schneider Electric, Capgemini, Volkswagen Group, ING, Koolen Industries, GROUPE IDEC and Engie).
The proceeds will be used for increasing new deal flow, accompanying the current 200 portfolio companies in their growth, accelerate the successful launch of new industrial champions such as InnoEnergy company builders and capturing the opportunities created by new regulatory frameworks, and boosting expansion in the US.
InnoEnergy’s deal flow is in earlystage innovative technologies and teams in clean tech, normally CAPEX-heavy. InnoEnergy accelerates, de-risks and boosts global business cases through its unique and trusted ecosystem of more than 1,200 partners. The managed ecosystem incorporates industrial players of all sizes, investors (public and private, equity and debt), academia, research
centres and public administration. Since its inception in 2010, InnoEnergy has provided support to global innovators through their full life cycle (from early stage to industrial scale), with a one stop shop model.
InnoEnergy currently has a portfolio of 200 companies, which are on-track to generate €110 billion in revenue and save 2.1G tonnes of CO2e accumulatively by 2030. Collectively, these companies have raised €25 billion in investment, to date. This latest private placement round accelerates InnoEnergy’s 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 into climate law.
DIEGO PAVIA CEO, EIT InnoEnergy
New strategic players have joined InnoEnergy’s outstanding cap table, several shareholders have reinvested, and altogether we have secured sufficient fresh financial resources to double our on-going impact.
The strengthening of our participation in InnoEnergy underlines our desire to value and promote the most innovative solutions in the service of decarbonisation. For almost two years, we have been working hand-in-hand to bring out, support and industrialise offers and services imagined by start-ups of all sizes operating in the key sectors of green energy, carbon-free mobility and innovative technologies. The great joint successes already achieved, our complementarity and the synergies between our two structures, including support for real estate solutions, encourage us to continue this association which is doing everything possible to meet the challenges of energy and environmental transition.
PATRICE LAFARGUE
Chairman and CEO, Groupe IDEC
Our mission at Koolen Industries is to make clean energy the new normal for everyone. Affordable. Attainable. Available. We share this mission with InnoEnergy and are therefore proud of our renewed investment. We will continue our cooperation to further accelerate the energy transition by investing early in crucial innovations and maximise value as the start-ups we support speed up their journey to commercial success.
KEES KOOLEN CEO, Koolen Industries
ENGIE is glad to support the growth of InnoEnergy as both a partner and an investor. InnoEnergy is playing a key role in the development of the innovation ecosystem and the decarbonisation of the energy value chains, both by investing in innovative early-stage startups and creating new build-up ventures.
This is well aligned with ENGIE’s mission to lead the energy transition and achieve net-zero by 2045.
JOHANN BOUKHORS Managing Director, ENGIE Ventures
We are glad to continue to support InnoEnergy’s development strategy. InnoEnergy has a central place in the European climate tech ecosystem of start-ups and in the decarbonisation of key industries to reach net zero European targets. Its focus on batteries, clean hydrogen, and solar photovoltaics makes it particularly relevant for Capgemini as we see this ecosystem as pivotal to help our clients reduce their carbon footprint by 10 million tonnes by 2030.
CYRIL GARCIA Head of Global Sustainability Services and Corporate Responsibility and Group Executive Board Member, Capgemini
Societe Generale is pleased to invest in InnoEnergy and support the development of its ecosystem of start-ups and industrial projects. Financing emerging leaders developing innovative and responsible solutions, such as InnoEnergy, is key for Europe’s reindustrialisation and sustainable growth.
This is a strong testimony of Societe Generale’s commitment to sustainable finance.
DEMETRIO SALORIO Head of Global Banking & Advisory, Societe Generale
Schneider Electric is proud to be recognised as an impact company, and for more than 15 years sustainability has remained central to our transformative mission. Our overarching purpose propels us forward, as we strive to empower individuals to optimize their energy and resource utilisation, forging a harmonious connection between progress and sustainability for all. As a longstanding shareholder, we have diligently cultivated synergistic collaborations with InnoEnergy spanning the past eight years, encompassing incubation, education, and ventures. Our participation in this private placement underscores our unwavering commitment to expedite the global decarbonisation journey, in collaboration with esteemed partners committed to excellence.
NADEGE PETIT
Chief Innovation Officer, Schneider Electric
This investment brings the strategic partnership Santander CIB signed with InnoEnergy in April 2022 to the next level. As a world leading advisor and financier in climate tech, this partnership enables us to accelerate and de-risk the development of hundreds of InnoEnergy portfolio companies as we have successfully done in the past, showing Santander’s commitment to contribute to the transition to a low-carbon economy and to achieving the Sustainable Development Goals. Addressing the energy transition, which affects all of our 164 million clients, demands innovation and technology at scale. Building on our successful year-anda-half strategic partnership, we’re excited to have found a partner in InnoEnergy that is at the cutting edge of technology and innovation, and that has the scale to make a real difference.
LUCAS ARANGÜENA
Head of Sustainable Tech, Santander CIB and Group Head of Sustainable Finance
Accelerating sustainable energy innovations is key to achieve CMA CGM’s commitment to reach net-zero carbon by 2050. CMA CGM Fund for Energies is delighted to join InnoEnergy’s cap table among other industrial, academia and financial actors, to pave the way to a more sustainable European industry.
MICHEL SIRAT
Executive Vice-President, Strategy & M&A in Charge of the CMA CGM Fund for Energies
Stena Recycling is proud to be part of the InnoEnergy eco-system. InnoEnergy’s circular and de-carbonisation agenda goes hand in hand with Stena Recycling’s longterm goals. We look forward to being part of the journey ahead.
JONAS HÖGLUND
CFO, Stena Metall
Further
solidifying our partnership with InnoEnergy and its extensive ecosystem of portfolio companies underscores our commitment to sustainability. Bringing together the right people, resources and innovative technology, InnoEnergy is driving Europe’s green agenda forward and we are excited to continue to be part of this journey, lending our expertise in finance and technology.
STEFFEN GROSSE CEO, Equity Finance, Siemens Financial Services
Our partnership with InnoEnergy reflects our strategy to accelerate the energy transition on a pan-European scale. InnoEnergy successfully supports innovative start-ups and scaleups with their growth ambitions through financial, strategic, and operational support. Its ecosystem also enables portfolio companies, investors, universities, and EU policymakers to share knowledge. Through InnoEnergy, sustainable companies are able to make a significant contribution to the decarbonisation of Europe, including scaling-up batteries and developing solutions for hard-to-abate industries like steel. We strongly believe in InnoEnergy and its ecosystem. So, after becoming the first financial institution in InnoEnergy’s shareholder base in 2021, our latest investment in this capital round showcases our commitment to further enhance and intensify our relationship with InnoEnergy and contribute to accelerating the energy transition in Europe.
MARK WEUSTINK Head of Sustainable Investments, ING
Congratulations to InnoEnergy, its partners and new investors on this important milestone. I am delighted to see that over the years InnoEnergy has become a key part of the European Union’s energy transition, leveraging private investments to contribute to the European Green Deal. Because of their excellent team and consistent strategy, they were able to gain this new investment that will enable them to continue scaling up their work in delivering game-changing innovations. Today, we are also celebrating the success of the EIT’s unique innovation model in creating financially sustainable panEuropean ecosystems that create a lasting impact.
MARTIN
KERN Director, European Institute of Innovation & Technology
Volkswagen is committed to playing a key role in shaping the decarbonisation of mobility today and tomorrow. In addition to our own activities, we are increasingly focusing on collaborations with highly innovative start-ups. As a global company, we can help turn good ideas into solutions that can be implemented on an industrial scale. With our renewed investment in InnoEnergy, we are strengthening our successful cooperation, particularly in the areas of e-mobility and renewable energies and supporting the company in the further expansion of its activities.
NIKOLAI ARDEY Executive Director, Volkswagen Group Innovation
As the world accelerates decarbonisation initiatives, NIIT MTS has a twofold commitment to the green energy transition as a strategic partner of InnoEnergy. On the one hand, we are excited to be the strategic learning services partner of the InnoEnergy Skills Institute to help rapidly scale and create the highly skilled and certified human capital essential for the rapid transition to green energy. On the other, we believe that InnoEnergy is poised to be the green transition thought leader and partner of choice for corporations and governments globally. This is why we have strategically invested in InnoEnergy as a shareholder to reinforce our commitment to the partnership. This partnership will also help us make a meaningful contribution to decarbonisation while leveraging our core strength of developing the human capital and skills to meet the needs of the fourth industrial revolution globally. We are looking forward to a long and successful collaboration with InnoEnergy and the InnoEnergy Skills Institute.
SAILESH LALLA Chief Business Officer, NIIT MTS
2.2 Global rankings – EIT InnoEnergy as the leading investor in energy in 2023
According to the PitchBook Global League Tables for 2023, InnoEnergy has been ranked as the most active investor in energy worldwide for the third consecutive year.
This recognition is a testament to the transformative technologies and groundbreaking projects we invest in and follows a series of listings over the years, including:
• 2023 Start-up Genome listing, ranking InnoEnergy as the top Cleantech “VC Firm and Investor” in Europe
• 2023 Sifted listing, acknowledging InnoEnergy as a top 10 Active deeptech investor
• 2022 Pitchbook listing, which recognised InnoEnergy as the number one Energy investor
• 2022 Start-up Genome listing, which recognised InnoEnergy as the number one VC Investor in Europe in cleantech and as a Global top VC Firm and Impact Investor
• 2021 Pitchbook listing, Top early-stage VC energy transition investor 2015-2021
InnoEnergy also secured positions as active investor in Transportation sector and in the South of the EU region.
ELENA BOU Co-Founder & Innovation Director, EIT InnoEnergy
We are extremely proud of these rankings as we continue to drive the net-zero agenda and deliver positive impact together with our portfolio companies.
2.3 Elena Bou receives the inaugural Nobel Sustainability Trust Award
The Nobel Sustainability Trust and the Technical University of Munich presented the Sustainability Award for outstanding research and development work relating to sustainable energy and the economics of climate change.
Two recipients received the award - Elena Bou of InnoEnergy for her contribution to the promotion of sustainable energy start-ups and Lord Nicholas Stern, Professor at the London School of Economics and Political Sciences, for his work on economic aspects of climate change.
Elena Bou is the Co-Founder and Innovation Director of InnoEnergy. She is significantly involved in the creation and promotion of start-ups and scale-ups in the energy sector, including the financing of new companies.
Acknowledging the award, Elena Bou, said: “I am honoured to receive this inaugural Nobel Sustainability Trust Award. This prize recognises the determinant roles start-ups, innovation and entrepreneurship play in the energy transition. Reaching net zero demands new ideas and approaches – it is what will truly shift the needle on the progress of sustainable energy solutions. Working at InnoEnergy allows me to put this into action every day, and through my research and teaching at Esade, I hope to encourage and influence the next generation of changemakers”.
PETER NOBEL Chairman, the NST
It fills me with joy and pride that we can award the new prizes for the first time this year. After all, the future well-being of humanity and its survival depends on our sustainable use of the Earth’s resources.
Industrial value chains
EIT InnoEnergy is spearheading the way to a decarbonised Europe by 2050 through the leadership of three industrial value chains: European Battery Alliance (EBA) for battery storage, European Green Hydrogen Acceleration Center (EGHAC) for green hydrogen, and the European Solar PV Industry Alliance (ESIA) for solar photovoltaics.
European Battery Alliance
A European value chain Our goal
A unique open ecosystem An independent meeting place
Project-driven Our actions’ DNA
Build a strong panEuropean battery industry generating €500 billion in new GDP annually by 2030.
More than 800 members throughout the value chain have joined EBA250. The members come from the industrial, academic and financial worlds, from mining to recycling.
Competitiveness, sustainability, significant impact, objective focus, urgency, concrete, project-driven, sharing, investment.
1000 GWh of sustainable and competitive batteries made in Europe by 2030
€500 bn/year new GDP created by 2030
1.5M jobs in Europe maintained or created by 2030
3.1.1 €500 million EBA Strategic Battery Materials Fund
Europe is accelerating its transition towards a clean and self-sufficient energy future with the launch of the €500 million EBA Strategic Battery Materials Fund. This initiative is spearheaded by EIT InnoEnergy and Demeter, a leading green investment firm, while Societe Generale will act as the exclusive financial advisor for the capital raising.
The substantial investment aims to bridge the critical gap in Europe’s battery raw material production chain. With the increasing demand for electric vehicles and renewable energy storage systems, access to essential battery components like lithium and nickel is paramount. However, Europe’s current reliance on foreign sources for these materials exposes vulnerabilities in its upstream supply chain.
The EBA Materials Fund aligns seamlessly with the European Union’s (EU) vision for a more robust and independent battery sector, as outlined in the Critical Raw Materials Act (CRMA). This act seeks to decrease Europe’s dependence on external suppliers for strategic materials, fostering a more secure and sustainable future.
The fund strategically allocates at least 70% of its resources towards projects that enhance battery material production within Europe and neighbouring countries. This investment not only bolsters Europe’s position in the global battery market but also stimulates economic growth and job creation within the region. The remaining 30% focuses on securing reliable supply from established partners like Canada and Argentina, ensuring diversification and mitigating potential risks.
Sustainability is a cornerstone principle for the EBA Materials Fund. Projects will undergo rigorous evaluation based on the EU Battery Regulation’s strict guidelines, ensuring traceability, responsible sourcing, and adherence to circularity practices. This commitment reflects the broader EU push for a clean and green future as outlined in the European Green Deal.
“To ensure a thriving and resilient European battery industry, we must intensify efforts in domestic battery raw materials production,” stated Diego Pavia, CEO of InnoEnergy. He emphasises the need for a focus on early-stage projects that prioritise sustainability and transparency within the battery materials supply chain.
Demeter, with its extensive experience in green investments, will serve as the fund manager, leveraging its expertise to ensure both the financial viability and environmental responsibility of projects. InnoEnergy, drawing upon its leadership role in the European Battery Alliance (EBA250) since its inception, will contribute its knowledge in identifying and supporting promising, yet potentially risky, projects.
This investment signifies Europe’s unwavering commitment to building a robust and sustainable battery industry for the future. By prioritising
ANTOINE TROESCH
Managing Partner, Demeter
We are delighted to launch this initiative together with EIT InnoEnergy, in a critical segment for European countries to succeed in energy and ecological transition.
domestic production, securing reliable partnerships, and adhering to high environmental standards, Europe is taking a strategic step towards a greener and more secure energy landscape.
3.1.2 One-Stop-Shop to EU Finance
During COP28 in Dubai in December 2023, Executive Vice-President of the European Commission, Maroš Šefčovič, announced a new cooperation with InnoEnergy to facilitate access to EU public finance for battery start-ups. Within the framework of the European Battery Alliance (EBA250) coordinated by Executive Vice-President, Šefčovič, InnoEnergy will lead a new pilot initiative to provide a One-Stop-Shop service for guidance to start-ups and scale-ups in the battery industry on how to get access to public funding more efficiently.
The European Battery Alliance (EBA) was launched to make Europe a global leader in sustainable battery production and usage, establishing a complete domestic battery value chain.
InnoEnergy took a significant step to address the challenges associated with accessing public funding for Europe’s strategic batteries sector. The ‘OneStop-Shop to EU Finance’ service simplifies access to public funding for start-ups and scale-ups across the battery value chain by providing guidance on how to get access to public funding more efficiently.
The One-Stop-Shop service is set-up in recognition of the crucial role public funding can play for the start-up and scale-up fundraising journey, enabling a company to de-risk both technology and its business case for private investors. While public funding can act as a catalyst for private investment, the diversity of the EU public financing landscape, where eligibility criteria and application procedures of numerous programmes can differ, presents barriers to access. The introduction of this One-Stop-Shop service has three main objectives:
Facilitate SME applications for EU funds
InnoEnergy provides guidance to selected companies in navigating EU funding programmes and financial
instruments, reducing the time and resource spent on applications. Doing more with less in bidding processes will benefit small companies that need it the most and speed up the time-to-money process to scale operations faster.
Strengthen industrial value chains
While the European battery value chain has made significant progress in recent year, further efforts are required to continue its development and expand segments of the value chain, particularly in upstream activities such as raw and active materials, as well as recycling for end-of-life products. The service aims to allow EU finance to address current financing gaps within the value chain.
Aid efficient deployment of EU funds
Enhancing Europe’s competitiveness through increasing industrial manufacturing capacity and ensuring supply chain resilience are priority objectives for the EU. The service aims to ensure recognition of the most promising greenfield projects that support these objectives.
In 2024, EBA250 is piloting the initiative for start-ups across the full value chain, from raw materials extraction to recycling, also including equipment, and machinery.
THORE SEKKENES
EBA250 Programme Director, EIT InnoEnergy
Securing EU public funding is a quality seal for many private investors and a key component to continue boosting growth in rapidly growing sectors like batteries. But start-ups and scale-ups often battle with lengthy and complex processes which necessitate time and resource that industry newcomers do not have to spare. The OneStop-Shop will bring greater speed, simplicity and clarity to the application process for scale-ups and increase chances of benefitting from public funding.
Based on learnings and best practices from the pilot, the goal is to later expand the service to additional clean tech value chains such as hydrogen and solar to further strengthen Europe’s industrial capacity to manufacture climate technologies.
3.1.3 Cooperation with EBRD
In a bid to support the EU’s ambitious objectives for a decarbonised and autonomous economy, the European Bank for Reconstruction and Development (EBRD) and InnoEnergy announced a partnership. The aim is to create and enable an investment landscape for the EV battery recycling market in Central Europe, with an initial focus on Poland.
Both the EBRD and InnoEnergy have extensive experience in the EV battery ecosystem and a strong track record in fostering circular economy business models. This makes them well placed to identifying and establishing a suitable marketplace as a platform to facilitate exchanges and partnerships between stakeholders along the EV battery materials recycling value chain, as well as the development of a knowledge hub for learning opportunities, and ultimately support access to finance.
The accomplishments of EBA Academy platform, led by
InnoEnergy, will be key to engage with key stakeholders in the entire battery recycling value chain. The EBA Academy is a pan-European education ecosystem aimed at training, upskilling, and reskilling the workforce needed to grow the EU’s battery industry. Expansion to neighbouring Central and Eastern European countries is expected.
Gianpiero Nacci, Director of Sustainable Business & Infrastructure, Climate Strategy and Delivery, EBRD, stated: “The EBRD is pleased to collaborate with InnoEnergy on our common goals towards a greener transport system and resource efficiency.”
GIANPIERO NACCI Director of Sustainable Business and Infrastructure, Climate Strategy and Delivery, EBRD
Batteries are recognised as one of the key technologies for transition to a low-carbon and resilient economy, which is a top priority for the EBRD.
European Green Hydrogen Acceleration Center
1,200 TWh
of EU final energy based on green H2 by 2025
€100bn/ year
new market potential by 2025
500,000 extra jobs
By 2025 the EGHAC wants to build a €100 billion a year green hydrogen economy. This will create up to 500,000 direct and indirect jobs accross the complete value chain. The ambition for yearly demand for useful green hydrogen based energy will be 1200TwH.
EGHAC is accelerating industrial decarbonisation as a green H2 venture builder
3.2.1 The European Commission renews partnership with EIT InnoEnergy’s EGHAC to accelerate and de-risk green hydrogen initiatives
The European Commission and EIT InnoEnergy’s European Green Hydrogen Acceleration Center (EGHAC) confirmed in May that they had renewed their partnership to accelerate the project pipeline of the European Clean Hydrogen Alliance (ECH2A). At the same time, InnoEnergy and DG Grow agreed to collaborate on strategic topics to unblock bottlenecks in the hydrogen economy.
By accelerating hydrogen initiatives to reach commercial scale rapidly, EGHAC is working towards the REPowerEU green hydrogen targets, as well as sectoral targets set out in the EU Fit for 55 Package.
Hydrogen has long been highlighted as a possible substitute for the current use of natural gas, not least in industry and transport. The prerequisite is that the hydrogen be produced with renewable energy, referred to as green hydrogen.
EGHAC’s role is to perform due diligence and develop a sound investment process to support the most relevant green hydrogen initiatives. Upon final selection, the hydrogen initiatives will be considered for equity investment and targeted acceleration services, as well as gaining access to key investment players in Europe through a matchmaking event to kick-start deals between selected projects and renowned European investors.
In 2022, this approach proved highly successful with 11 potential deals between projects and investors coming
out of the cooperation. With this collaboration renewed in 2023, a new evaluation process for green hydrogen initiatives commenced.
EGHAC has set-up a process which facilitates the initial selection of hydrogen initiatives. Interested projects and technology ventures can fill in a high-level questionnaire to assess general project characteristics. While the initial deadline passed in July 2023, submissions are reviewed on a rolling basis. The sooner an application is turned in, the more time each applicant has to prepare for the next phase of support from EGHAC.
Accelerating green hydrogen initiatives through the EGHAC are a cornerstone of REPowerEU, the EC’s plans to increase its energy security through the transition to clean energy. The Commission’s legislative proposal has raised the share of the EU’s final energy consumption through renewable energy to 45% by 2030. The ‘Fit for 55’ package is the EU’s commitment to reduce its net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels and to achieve climate neutrality in 2050.
CARINA KRASTEL Managing Director, the European Green Hydrogen
Acceleration Center
By accelerating hydrogen initiatives to reach commercial scale rapidly, EGHAC is working towards the REPowerEU green hydrogen targets, as well as sectoral targets set out in the EU Fit for 55 Package.
3.2.2 New strategic cooperation in green hydrogen sector
Real asset manager KGAL and EIT InnoEnergy announced a partnership to invest in European hydrogen projects and drive their development. KGAL brings 20 years of experience in renewable energy asset management and investor capital to the partnership and has a managed investment portfolio of over €16 billion.
The key role of green hydrogen in achieving climate targets is becoming increasingly evident and why it is also gaining immense importance for KGAL, the pioneer in renewable energy investments for institutional investors. With this strategic partnership, KGAL underlined its commitment to accelerating green hydrogen and energy transition investments.
KGAL will invest in selected hydrogen projects from the InnoEnergy portfolio that have already successfully progressed through the early stage. KGAL will contribute fresh capital and its expertise
in greenfield investments, and work together with InnoEnergy to develop the projects to the point of commercial operation.
Michael Ebner, Managing Director of sustainable infrastructure at KGAL Investment Management, commented: “With its more than 1,200 partners from industry, politics, finance, research and education, InnoEnergy maintains one of the largest and most relevant ‘ecosystems’ for climate technologies worldwide. We are also impressed by the high success rate of investments from our partner’s portfolio.”
MICHAEL EBNER Managing Director of Sustainable Infrastructure, KGAL Investment Management
An important factor for investment success is access to promising projects, which is why this cooperation is so valuable for us.
3.2.3 European Green Hydrogen Investment Day
Following a successful inaugural event in 2022, the second edition of the Green Hydrogen Investment Day took place at the European Commission in November as part of the wider European Hydrogen Week in Brussels.
The Investment Day is a partnership between InnoEnergy’s European Green Hydrogen Acceleration Center (EGHAC) and the European Commission’s European Clean Hydrogen Alliance (ECH2A). As a matchmaking event, the day aims to accelerate the commercialisation of hydrogen projects and de-risk European ventures to kick-start deals with leading investors.
While the EU has set ambitious domestic green hydrogen to help accelerate Europe’s decarbonisation efforts, in 2022 hydrogen accounted for less than 2% of energy consumption across the European Union. Focusing efforts on financing hydrogen ventures for hard-to-abate industries such as steel or fertilisers which are difficult to electrify, can help accelerate decarbonisation pathways.
In partnership with the ECH2A, EGHAC short-listed 11 applications from over 135 European hydrogen venture submissions to pitch at the Green Hydrogen Investment Day. 35 investors attended the matchmaking event including both public and private firms such the European Investment Bank,
Santander, ING, Société Générale, Siemens Financial Services and Allianz.
Around half of the hydrogen ventures at the event are developing projects to decarbonise hard-to-abate sectors for the steel, fertilisers, maritime and shipping, and aviation industries. The focus of the other start-ups is on technological innovation efforts for hydrogen production, including for electrolysers and manufacturing components, storage and liquefaction.
Hydrogen continues to be of strategic importance to the EU, as demonstrated by the opening of the long-awaited Hydrogen Bank during European Hydrogen Week. The public financing instrument made €800 million available to kick-start a market in renewable hydrogen and unlock further private investments.
This follows ambitious targets set under REPowerEU to generate 10 million tonnes of domestic renewable hydrogen by 2030, doubling the target previously set in the EU’s European Hydrogen Strategy.
MAIVE RUTE Deputy DirectorGeneral for Internal Market, Industry, Entrepreneurship and SMEs, the European Commission
Now it is time to get projects up and running – that’s what our Clean Hydrogen Alliance and this partnership with EGHAC aims to do.
European Solar PV Industry Alliance
Identify scale up bottlenecks
Foster research and innovation
Support skills development
Strategic Action Plan Tasks
Explore international partnerships Promote circularity and sustainability
Facilitate access to finance
Provide framework for cooperation
30GW
annual solar PV manufacturing capacity by 2025
€40bn/ year front-loaded investment in PV production capacity required
3.3.1 Europe in strong position to exceed goal of 30 GW annual PV manufacturing by 2025, according to the Alliance
New data from European Solar PV Industry Alliance (ESIA) forecasts that the industry is on-track to build over 30 GW of annual manufacturing capacity across the solar photovoltaics (PV) value chain, with more than 20 new PV pipeline projects. The ESIA revealed that Europe with the right policy support could even surpass the target of 30 GW in polysilicon production, ingots, cells and modules manufacturing, respectively.
The findings were announced in June at Intersolar Europe in Munich, when the ESIA also launched its working groups’ comprehensive action plan to progress work in four key areas: non-pricing criteria, supply chain challenges, financial instruments, and skills. Several initial outputs have already been brought to the European Commission for further discussion.
A key focus of the action plan is improving international supply chain competitiveness and considerations including energy costs, sustainability, recycling, and traceability. The action plan also proposes non-price criteria to bring forward best-in-class solar with strong environmental, social and governance credentials, as well as actions to address gaps in the value chain, recyclability training and education, attractiveness and awareness, and mobility to ensure sufficient availability of talent.
Kerstin Jorna, Director-General of the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs at the European Commission, commented: “As set out in the Net-Zero Industry Act, our goal is to overcome regulatory obstacles
that hinder the expansion of netzero technologies – with solar PV being a vital component – ultimately enhancing the EU’s energy resilience and competitiveness.”
The Net-Zero Industry Act is an initiative stemming from the Green Deal Industrial Plan which aims to scale up the manufacturing of clean technologies in the EU. This means increasing the EU’s manufacturing capacity of technologies that support the clean energy transition – such as solar PV – and which release extremely low, zero or negative greenhouse gas emissions when they operate. The Act will attract investments and create better conditions and market access for clean tech in the EU.
The ESIA was created by the European Commission in December 2022, with InnoEnergy as Secretariat and SolarPower Europe and the European Solar Manufacturing Council on the alliance’s Steering Committee. It has more than 120 members across 17 countries, with an aim to support the growth of a European industry that is developing and commercialising breakthrough solar PV technologies.
KERSTIN JORNA Director-General of the DirectorateGeneral for Internal Market, Industry, Entrepreneurship and SMEs, the European Commission
The Commission strongly supports the European Solar PV Industry Alliance’s mission to boost solar PV manufacturing in the EU.
3.3.2 ESIA Ministerial Meeting
European Commissioner Thierry Breton, responsible for the Internal Market, hosted a ministerial meeting on the European solar photovoltaic (PV) industry under the umbrella of the European Solar PV Industry Alliance (ESIA). Held on the the first anniversary of the creation of the ESIA, the virtual meeting gathered ministers from the European Union and Norway, as well as representatives of the European Investment Bank and the European solar PV sector.
The meeting’s aim was to address challenges and possible solutions for bringing back solar PV manufacturing to Europe. Special focus was put on narrowing the cost gap between imported and European production and leveraging the value of European production.
Member states exchanged and shared best practices on mobilising existing financial tools at national and EU-level and discussed how to use non-price award criteria, such as social, environmental or diversification considerations,
in procurement processes and auctions. Commissioner Breton also announced the launch of a new Solar Academy, with the aim of training 65,000 workers in the next three years.
Commissioner Breton said: “We are more committed than ever to boost European manufacturing of solar panels along the whole value chain with favourable regulatory and financing conditions. It’s a matter of energy resilience, competitiveness and jobs for our fellow citizens.”
In 2023, we will exceed the REPowerEU objectives of installed solar power generation capacity. But of the 60 gigawatts of solar panels installed, only 3% are produced in Europe.
from our portfolio
All of the innovations we support leverage off our Value Added Services, which reduces their time to market, de-risk their innovation and supports the development of commercially attractive solutions to empower a sustainable energy future.
4.1 Unveiling the Champions of Change –EIT InnoEnergy’s thriving portfolio
The clean energy revolution is not a distant aspiration – it’s unfolding now, fuelled by collaboration and innovation. In this chapter, we celebrate the success stories of our portfolio, encompassing over 200 pioneering companies.
These companies are more than just businesses; they are changemakers. Each leverages the unique power of the InnoEnergy ecosystem, a comprehensive network designed to accelerate their progress. We act as a catalyst, mitigating risks, streamlining their path to market, and supporting the development of commercially attractive solutions that empower a sustainable energy future.
This is achieved through customised support, thanks to our nine Value Added Services:
• Market intelligence empowers global expansion for clean energy solutions.
• Technology enhancement transforms innovations into marketable products.
• Customers and growth open-up markets to connect innovators to commercial opportunities.
• Supply chain connections link entrepreneurs, investors, and industry with sustainable innovation.
• Governance strategy provides guidance on strategic direction and identifies opportunities for collaboration.
• Social acceptance and citizen engagement result in the uptake of more sustainable solutions.
• Regulation and policies are identified and new opportunities are assessed.
• Access to finance provides flexible funding models which adapt to evolving needs.
• Access to human capital links innovators and industry with students and alumni to drive the energy transition.
What is more, our partnership extends beyond tools and resources. We champion companies that mirror our core values. All fall within our six thematic areas: energy storage, energy efficiency, energy for transport and mobility, energy for circular economy, smart electric grid and renewable energy. And, all are enshrined in the UN’s Sustainable Development Goals.
But we don’t stop there. When we see a gap in the market, we asses the opportunity and develop new companies, as we have done with Repono, a pan-European company focused on owning and operating large energy storage systems; FertigHy, a new player in lowcarbon fertiliser production; and Verkor, the European pioneer in low-carbon batteries for electric vehicles – to name just a few.
Beyond the disruptive products of our portfolio, we recognise the need for a cleaner future that drives these companies. Their dedication to making a real difference is as inspiring as their innovations.
These are the companies pushing boundaries, igniting positive change, and paving the way for a brighter tomorrow. Now, let’s delve into their stories and discover the innovations that, together, will shape a sustainable future.
16 new investments
REPONO
Product page
Shaping Europe’s large-scale sustainable power system for tomorrow
HELIUP
CATALYCO
Sustainable Zinc Oxide
Product page
&CHARGE
Let’s improve charging
Product page
Product page
Light durable PV panels INCITIS
Product page
A green revolution in urban freight distribution
RENERCYCLE
Product page
ION-ENERGY
Generating electricity from the Earth’s atmosphere
Product page
Developing industrial and technological solutions to boost the circular economy in renewables
Product page
SOLAQUA
Solar-powered irrigation system coupled in DC and without need of storage
PHYTONICS
Product page
TRIBONEX
Cost-efficient and scalable surface treatments for minimised friction and wear in various industrial applications
FERTIGHY
Product page
Low-carbon fertiliser production to accelerate decarbonisation of food value chain
Product page
Anti-reflective coating for PV panels
BEHOLDER
Product page
AI for sustainable minerals exploration
METHAPLANET
Product page
Prepare your biomass and increase your biogas production
NESETTEN
Nano-scale cryogenic bulk: a game-changer for (bio-) LNG Product page
SUNROOF
Building integrated solar roofs and a virtual power plant
Product page
CIRCULAR INDUSTRIES
Scaling the circular economy
FUTUREVOLTAICS
Product page
More power when it matters
14 exits including
VILISTO
Digital heat management
SCIBREAK
Ultra-fast electric circuit breakers for medium and high voltage
Investment rounds
HENRY MOBILITY
Empowering last mile delivery
42 closed rounds
€2.74b volume of all closed rounds
4.2 Portfolio estimated to save 2.1giga-
tonnes of CO2e between 2022 and 2030
The EIT InnoEnergy Impact Report 2022 revealed that its sustainable investment portfolio has the potential to save 2.1 gigatonnes of CO2e between 2022 and 2030 and deliver 831TWh of clean energy over the same period, leading energy transition goals.
The InnoEnergy Impact Report 2022 confirms that innovation is crucial to overcoming obstacles and achieving global climate goals.
The news comes as the EU continues to ramp up work to meet its target to reduce net greenhouse gas emissions by 55% by 2030, requiring breakthrough and scalable technologies and innovations. This in turn calls for vast upskilling
and reskilling to not only grow but reshape the energy workforce. InnoEnergy reports that its sustainable investment portfolio has directly and indirectly created over 40,000 jobs since its 2010 inception.
The portfolio has generated over €711 million in revenue since 2010, an increase of 132% from 2020. Revenue for 2030 is forecasted to be €110 billion.
Elena Bou, Co-Founder and Innovation Director at InnoEnergy, said: “It is incredibly exciting to see the tangible progress and impact our portfolio companies have delivered to support the transition to a green economy and achieve climate targets. From the 40,000 jobs we and our portfolio companies have created – to growing our potential to save 2.1G tonnes CO2e accumulatively by 2030, we are
continuing to support expansion across the three industrial value chains we lead: battery storage, green hydrogen and solar photovoltaics.
“As we broaden our horizons, including with new projects in the US, we look forward to continuing to support our portfolio companies and new sustainable energy innovations to realise or even surpass expected achievements.”
Report details
The report highlights how by investing in people, start-ups, industrial value chains and its whole ecosystem, InnoEnergy has laid down the foundation of collaborative innovation in order to deliver its mission: To accelerate the energy transition and help build a more sustainable world. In just 12 years, its portfolio companies are making an economic, social and
environmental impact that could not be achieved in isolation.
The report also demonstrates how InnoEnergy is also aiming to contribute to a more sustainable world by fostering the energy transition. This objective influences everything it does: any activity it undertakes and any company it supports should contribute to the transition by making energy more affordable, securing its supply and reducing greenhouse gas emissions. By pursuing such a mission, InnoEnergy is now the industry leading sustainable energy innovation engine.
ELENA BOU Co-Founder & Innovation Director, EIT InnoEnergy
This report is an acknowledgement of all we have achieved and a reminder that our impact is boundless.
Check the report
4.3 EIT InnoEnergy launches Repono to deploy and operate 100 gigawatt hours of energy storage in Europe by 2030
EIT InnoEnergy launched Repono, a pan-European company focused on owning and operating large energy storage systems (ESS). Its goal is to capture a 10% share of an anticipated oneterawatt hour (TWh) European market by 2030.
By applying a holistic, portfoliobased approach that can be replicated across regions, Repono aims to standardise and accelerate the way these systems are deployed across Europe to store gigawatt hours of excess renewable electricity, curb the risk of power outages, level-out energy prices and enable a 24/7 balanced clean energy supply.
Rasmus Bergstrom, CEO of Repono, said: “Europe’s forceful shift away from coal, oil and gas puts our longstanding energy infrastructure under immense stress, leading to frequent curtailments of cheap, clean energy, to volatile and unnecessarily high prices, and power outages. This puts a brake on
the energy transition at large when we, as a society, have everything but the luxury of time. This is exactly where Repono steps in.”
Repono directly addresses these challenges by operating in three key areas. It will strategically manage its storage capacities via shortterm spot markets; use balancing services to maintain grid stability and prevent large-scale blackouts; and integrate energy storage into power purchase agreements (PPAs) between large independent power producers and industrial companies. Through the use of ESS technologies, Repono will help to ensure a reliable, 24/7 decarbonised electricity supply for Europe in the years to come.
RASMUS BERGSTRÖM CEO, Repono
Europe’s electricity system and grid were built for a steady feed-in of dispatchable energy sources, not to handle the massive influx of decentralised and intermittent renewables.
repono.com
4.4 Holosolis launches Europe’s largest solar PV gigafactory
Holosolis, a company founded by EIT InnoEnergy, Groupe IDEC and TSE, announced in May their intention to build Europe’s largest PV module gigafactory in Moselle, France. Aiming to accelerate Europe’s solar PV manufacturing capabilities to ensure continental energy security, the new production site will see the capacity of Europe’s current largest factory bested by almost 70%.
The factory will start production in 2025 and, at full capacity will have a production capacity of 5GW per year, producing 10 million photovoltaic modules annually, equivalent to the energy needs of one million European homes. It will employ 1,700 people, most of whom will be recruited in the Grand Est region and the Sarreguemines area, supported by a partnership with France Travail.
At a time where energy security is high on the agenda, Holosolis is
committed to increasing Europe’s solar manufacturing capacity. With China currently responsible for 80% of the world’s installed photovoltaic modules – compared to 3% for the European Union – Holosolis answers directly to growing concerns about supply sovereignty. Holosolis also puts sustainability at the core of its industrial project, aiming to lead the EU industry towards low-carbon, recyclable products.
It is expected that the gigafactory will be fully operational from 2027.
JAN JACOB
BOOM-WICHERS CEO, Holosolis
We will manufacture the most energy efficient modules, incorporating the latest photovoltaic technologies, with the lowest carbon footprint and highest social standards. holosolis.com
4.5 Verkor Innovation Centre opens for business
Verkor, the European pioneer in low-carbon batteries for electric vehicles, in May opened its 2-hectare Verkor Innovation Centre (VIC) following an inauguration ceremony. The VIC aims to industrialise high-performance, low-carbon battery cells and train future battery experts.
Verkor is committed to accelerating battery production in Europe, in particular with the VIC and its potential to produce 150 MWh of battery cells per year. These cells are produced in compliance with sustainable development criteria (carbon footprint, recycling, traceability and talent development).
Roland Lescure, French Minister Delegate for Industry, announced that: “The inauguration of the Verkor Innovation Centre is in line with all the recent announcements concerning the reindustrialisation of our country”. This will involve the design and development of
low-carbon solutions to meet the challenges of climate change.
In August 2022, Verkor and its 11 partners launched the École de la Batterie to meet the need for a large workforce. The VIC will also have a training objective, to prepare the arrival of a new generation of experts in the battery industry.
Verkor has been able to count on the support of its collaborators, InnoEnergy, Renault Group, Groupe IDEC, Schneider Electric, Cap Gemini, EQT Ventures, Arkema, Tokai COBEX, the FMET managed by Demeter, SibanyeStillwater, Plastic Omnium and Bpifrance, throughout this process.
BENOIT LEMAIGNAN Co-Founder & CEO, Verkor
Our collective mission is to produce highperformance, low-carbon batteries on a large scale, in order to accelerate the transition to sustainable energy and industry in France and Europe.
verkor.com
4.6 FertigHy, a new player in low-carbon fertiliser production, launched to accelerate decarbonisation of food value chain
FertigHy, a company founded by EIT InnoEnergy, RIC Energy, MAIRE, Siemens Financial Services, InVivo and HEINEKEN, was launched in June to pioneer the low-carbon transition of the European fertiliser industry. FertigHy aims to produce affordable and low-carbon fertilisers for European farmers, answering directly to the recent challenges of the EU and global food security due to supply chain disruption and global uncertainties in natural gas supply.
FertigHy will build, own and operate its first plant in France and replicate in several other European countries such as Spain. The French plant will produce 500,000 metric tons of low-carbon, nitrogen-based fertiliser annually from 2030. The production process will use renewable and low carbon electricity. Construction of the factory will begin in 2027.
The agriculture sector alone is responsible for more than 10% of the EU’s total greenhouse gas emissions*, and European farmers are applying over 11 million tonnes of nitrogen fertilisers each year (on nutrient
basis). The European Commission has identified the fertiliser sector as critically important and supports the transition to low-carbon fertilisers.
José Antonio de las Heras, CEO of FertigHy, said, “There has never been greater urgency to decarbonise and collectively regain our production of fertiliser. FertigHy will rebuild resilience against disrupted supply chains, while promoting sovereignty for the agriculture industry and security of supply by accelerating the decarbonisation of the food value chain.”
*https://ec.europa.eu/eurostat/databrowser/view/env_ac_aigg_q/default/table?lang=en
JOSÉ ANTONIO DE LAS HERAS
CEO, FertigHy
With many factors at play in Europe in 2023 the time to establish a greener and self-sufficient industry for all is now.
fertighy.com
4.7 H2 Green Steel raises €1.5 billion in equity to build the world’s first green steel plant
In one of the largest private placements in Europe in 2023, EIT InnoEnergy-backed H2 Green Steel confirmed in September that it had raised about €1.5 billion in equity from an investor group led by Altor, GIC, Hy24 and Just Climate. The round will finance the world’s first large-scale green steel plant and Europe’s first giga-scale electrolyser.
The proceeds will finance the construction and development of H2 Green Steel’s flagship largescale green steel plant in Boden, Sweden. Groundworks have been ongoing on the site in Boden since summer 2022, and through this transaction H2 Green Steel has taken a big leap towards the start of operations by the end of 2025.
The plant will deliver steel with up to 95 percent less CO2 emissions compared to steel produced with traditional blast furnace technology. This is made possible by replacing
coal in the production process with hydrogen, produced on-site with Europe’s largest electrolyser, using electricity from renewable sources.
Henrik Henriksson, CEO of H2 Green Steel, commented: “The caliber of investors that are backing us is impressive. Some of the most professional institutions, investors and industrial companies globally are part of this round and we are proud that they all share our commitment to sustainability as their true north.”
OTTO GERNANDT CFO, H2 Green Steel
We hope this financing will contribute towards accelerating the much needed, broad participation of capital markets in the transformation of hardto-abate industries.
h2greensteel.com
4.8 ElevenEs opens Europe’s first LFP battery cell facility to supercharge electric vehicle production
Produced without nickel nor cobalt, LFP offers increased sustainability, safety and lower costs, as well as lasting three times as long as competing technologies. ElevenEs’s EDGE battery cells, with their unique form and cell-topack capability, offer higher energy density on a pack-level compared to other LFP cell designs.
Nemanja Mikac, CEO at ElevenEs, said: “LFP has proven its potential to transform the EV market recently and, according to McKinsey, is forecasted to be the number one
battery cell chemistry utilised globally by the end of this decade. We’re proud of our contribution to reducing the global footprint starting with our battery cells’ local production.”
The industrial facility will expand to become ElevenEs’ Mega-Factory in 2024, producing 500MWh. ElevenEs’s roadmap over the next five years includes operating two Gigafactories at a combined capacity of 48GWh – equivalent to the energy needed for one million electric cars annually.
ElevenEs, the pioneer in LFP (Lithium Iron Phosphate) cathode battery technology, opened the first industrial facility dedicated to LFP battery cell production in Europe, located in Subotica, Serbia. ElevenEs is backed by EIT InnoEnergy and will specialise in producing high-quality LFP prismatic cells for use across a variety of applications, including electric cars, buses, trucks, and energy storage systems. Product page
NEMANJA MIKAC CEO, ElevenEs
The expansion of our R&D center and opening of our first production facility in Serbia is a huge milestone for ElevenEs and the European battery cell market as a whole. elevenes.com
4.9 Meva Energy signs major investment agreement with Just Climate
Meva Energy, a company supported by EIT InnoEnergy, signed a significant investment agreement with Just Climate in February as it looks to help manufacturing industries convert their low-value waste residues to fossil-free energy by using a unique, cost-efficient gasification technology based on small fraction fuel.
Just Climate is a Londonbased investment business created by sustainable investment firm Generation Investment Management to address the most hard-to-abate net-zero challenges at scale. The investment in Meva Energy is one of Just Climate’s first investments.
Meva Energy’s thermochemical conversion technology converts biogenic residue, including sawdust, to renewable gas. The gas can then be used to fuel power generation or to replace fossil gas consumption in industrial heat systems. Meva
Energy is looking to accelerate the decarbonisation of the manufacturing industry in Europe – starting with the paper and engineered wood industry – and already has partnerships with IKEA Industry and Sofidel.
Niclas Davidsson, CEO at Meva Energy, stated: “As an innovative greentech company we are really happy to partner with a climate-led global investor. This investment significantly increases our ability to deliver impactful and sustainable bio-syngas plants to our customers in the manufacturing industry.”
NICLAS DAVIDSSON CEO, Meva Energy
Just Climate’s investment to back our impact potential is a strong statement of shared values and commitments.
mevaenergy.com
4.10 Solar wafer manufacturer NexWafe
secures €30 million to break ground on first commercial-scale green solar wafer plant
NexWafe has secured €30 million to accelerate the construction of its first commercial-scale facility – in Bitterfeld, Germany – green solar wafers. The funds came from both existing NexWafe investors – including Reliance New Energy Limited, Aramco Ventures and ATHOS Venture GmbH –as well as new investors.
At the same time, NexWafe announced that it will be working with Aramco Ventures on a future green solar wafer manufacturing facility in the Kingdom of Saudi Arabia. The agreement will include participation from Aramco Ventures’ $1.5 billion sustainability fund.
Davor Sutija, CEO of NexWafe, said: “This investment will be used to break ground on NexWafe’s first commercial facility to speed the renewable energy transition with more efficient, lower cost, green solar wafers for the world’s photovoltaic manufacturers.”
NexWafe’s unique, patented green solar wafer manufacturing solution simplifies polysilicon production and reduces energy use and production time. This results in drastically lowered production costs for n-type monocrystalline wafers used for the majority of high-performing solar modules. The company’s novel manufacturing method delivers wafers that are engineered to the requirements of each customer and already achieving parity with commercially available Czochralski (CZ) wafers.
DAVOR SUTIJA CEO, NexWafe
We hope this financing will contribute towards accelerating the much needed, broad participation of capital markets in the transformation of hardto-abate industries.
nexwafe.com
4.11 CorPower Ocean Achieves Milestone with Commercial Wave Energy Converter Deployment
CorPower Ocean, supported by EIT InnoEnergy, achieved a significant milestone early into 2024 when its C4 Wave Energy Converter (WEC) completed the first cycle of the ocean commissioning programme at the Aguçadoura site in northern Portugal.
This event marked the culmination of several months’ work since the device embarked on its journey to the Aguçadoura site in August, located 4km offshore, from the port of Viana do Castelo. Here, it was connected to a pre-installed UMACK anchor on the seabed and seamlessly integrated into the Portuguese national grid via a subsea export cable.
Andreia Fernandes, Country Manager, InnoEnergy Portugal, stated: “Experiencing the progress that CorPower has made is a mixture of pride and satisfaction for the confirmation of a triad of success –team, technology, and market.”
The C4 WEC has undergone extensive testing, including a one-year dry test programme with simulated wave loading in Stockholm. It incorporates
breakthrough technology designed to unlock the full potential of wave energy on a utility-scale.
Now proven at commercial scale, at the exposed Atlantic test site, CorPower Ocean’s C4 device has demonstrated unique ability to tune and detune according to varying sea states, limiting response to extreme storm waves (up to 18.5m) while amplifying motion and power capture in regular waves using novel phase control technology.
The progression marks a crucial milestone for wave energy addressing the two major obstacles which have hampered commercial adoption to date – survivability and efficient power generation in normal ocean conditions. The inflection point provides a firm signal of wave energy’s readiness for widescale adoption.
PATRIK MÖLLER CEO, CorPower Ocean
This is a big milestone for CorPower Ocean and a very exciting chapter for marine energy. The effort of the team and our partners to take us here is simply remarkable.
4.12 Hardt Hyperloop secures €12 million investment and forms strategic partnership with Zeleros
Hardt Hyperloop announced its latest investment from key public and private investors in July. This essential milestone underpins the completion of the European Hyperloop Center (EHC) and Hardt’s hyperloop test vehicle, setting the stage for testing operations to commence in 2024.
The EHC, a 420-meter-long test facility including a lane switch, will allow Hardt to prove all essential technologies for hyperloop, and amplifies Hardt’s commitment to leading the transformation of future transport with the hyperloop.
In the hyperloop, autonomous vehicles are guided through a low-pressure tube or system of tubes, diminishing rolling friction and aerodynamic friction, with little energy use and land use, for passengers and/or cargo.
In a further development, Hardt announced in September that it had signed a Memorandum
of Understanding with Zeleros to accelerate the technical and commercial development of hyperloop. Zeleros and Hardt will work together on the demonstration, de-risking, and implementation of hyperloop technology, prioritising the development of an interoperable system to enable efficient, seamless transportation of passengers and goods across borders.
Hardt and Zeleros are seeking to achieve an operational pilot route by 2030, while working for an open, accessible, and competitive hyperloop ecosystem.
TIM HOUTER Co-founder, Hardt Hyperloop
With these new investors alongside our existing backers, we have a great foundation to further the development and commercialisation of the hyperloop. hardt.global
4.13 EcoBean was awarded €7 million to develop a pioneering biorefinery for a full valorisation of coffee grounds
EcoBean – a company supported by EIT InnoEnergy as well as investors from CofounderZone, CIECH Ventures and business angels from COBIN Angels – announced in October that it had secured €7 million following qualification to the European Funds for a Modern Economy (FENG) programme. The funds will be used to develop an innovative technology for processing coffee grounds, and the construction of the EcoBean Technology Center (ETC).
EcoBean is the most technologically advanced processor of coffee grounds into sustainable bio-based raw materials with a low carbon footprint. Through innovative solutions, the company aims to reduce the impact of the coffee and chemical industry on the environment, transforming used coffee grounds in accordance with the principles of the circular economy.
The company’s EcoBean Technology Center is an intelligent and fully sustainable demonstration line with research and development facilities. The investment will allow for the development of new industrial production and specialised chemical
applications processing up to 1,000 tonnes of used coffee grounds into high-margin bio-raw materials annually.
The FENG programme supports innovation by focusing on research and development projects aimed at green transformation.
Last year EcoBean launched a state-ofthe-art laboratory in Nadarzyn, Poland, equipped with cutting-edge technology for advanced research. The company has also received several prestigious awards, including Zielone Orły Rzeczpospolita, ESG Innovator 2023 from Polskie Stowarzyszenie ESG, and Mazovia Innovator.
MARCIN KOROLEC Member of the Advisory Board, EcoBean
I am satisfied that EcoBean has been recognised for the innovative solutions that help accelerate the circular economy.
ecobean.pl
Product page
4.14 Nevomo performs the world’s first ever successful test to confirm trains’ ability to levitate on existing railway infrastructure
Nevomo, the developer of the innovative, hyperloopinspired MagRail technology announced a groundbreaking achievement in September. The company successfully performed the world’s first-ever tests proving that railway vehicles can levitate on conventional railway lines.
By confirming that railway vehicles can operate on existing railway infrastructure without any friction, the MagRail technology has the potential to revolutionise rail transport by seamlessly merging the traditional rail systems with the future vision of ultra high-speed solutions like the hyperloop.
The trials followed 3.5 years of research and testing and were carried out on a 700-metre-long section of Nevomo test track in Nowa Sarzyna, Poland, where MagRail vehicles reached a speed of
135 km/h and demonstrated stable levitation and magnetic guidance on rail infrastructure. Ultimately, the high-speed passenger MagRail trains are expected to run up to 550 km/h on railway lines, significantly reducing travel times.
Ben Paczek, CEO and Co-Founder of Nevomo, said: “For the first time in railway history, a rail vehicle moved not on the existing tracks, but over them, without friction. It shows that our MagRail technology is not just a vision for the future - it is a tangible solution for today.”
SEBASTIAN KALUZA Product Development Director, Nevomo
The successful tests are the result of the knowledge and hard work of dozens of our engineers and experts and are paving the way for precommercial operational pilots.
nevomo.tech
Product page
4.15 Mitsubishi Electric acquires
portfolio company, Scibreak
Mitsubishi Electric entered into an agreement with Scibreak, to wholly acquire the Swedish-based company that develops direct current circuit breakers (DCCBs).
The two firms aim to strengthen the competitiveness of their unified business by working closely on developing DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.
The introduction of renewable energy generation, such as wind power, is increasing worldwide to achieve carbon neutrality. Particularly in offshore wind power generation, HVDC is used for longdistance transmission between offshore and onshore load centres, as it offers lower power losses and cost when compared to AC transmission. These networks will
require DCCBs, which will play a critical role in protecting the power system.
HVDC breakers will require very fast operation times, in the order of a few milliseconds, and companies are stepping up technological development in response to the need for more compact, high-performance, and cost effective DCCBs.
Scibreak has a market leading DCCB technology, in terms of operation time and footprint. Mitsubishi Electric will utilise Scibreak’s technology and know-how to lead the commercialisation of DCCBs, strengthening its global HVDC system business.
TOMAS MODEER CEO, Scibreak
Mitsubishi Electric will utilise Scibreak’s technology and knowhow to lead the market commercialisation of direct current circuit breakers.
scibreak.com
4.16 From India to the Big Apple - Swobbee has EV micromobility services covered
In a move to enhance electric two-wheeler accessibility in India, Motovolt Mobility announced a deal in late 2023 with German climate-tech firm - and EIT InnoEnergy portfolio company - Swobbee, to elevate the EV use across the subcontinent.
The partnership will establish 200 battery swapping stations across India over 24 months, commencing with the first two Swobbee battery swapping and charging stations in Delhi and Kolkata.
Subscribing customers will eliminate the need to purchase batteries upfront ensuring optimal battery performance, safe and efficient charging, and proper disposal of end-of-life batteries. Swobbee’s services will initially target business customers, including delivery and transport services, then be available to private customers.
In a further move to expand e-bikes around the world, New York City
and climate and deep tech platform, Newlab, launched a similar pilot project to help prevent battery fires in electric micromobility vehicles and improve safety for delivery workers by expanding access to charging infrastructure. The initial pilots comprise Swobbee, along with Popwheels and Swiftmile.
As part of a pilot program, an initial group of delivery workers will have free access to Swobbee’s batteryswapping stations and other new battery-charging infrastructure.
An EIT InnoEnergy team from both sides of the Atlantic was involved in helping Swobbee with its US landing.
THOMAS DUSCHA CEO and Co-Founder, Swobbee
Swobbee’s battery swapping services offer a unique proposition wherein our customers can subscribe to a swapping solutions provider. swobbee.de
4.17 Hyperloop Companies Join Forces to Launch the First International Hyperloop Association
In February it was announced that hyperloop pioneering companies Hardt, Hyperloop One, Hyperloop Transportation Technologies, Nevomo, TransPod, Swisspod Technologies, and Zeleros joined forces to form “The Hyperloop Association”, the first global association within the hyperloop industry.
Hyperloop is a new, high-speed transportation system consisting of an autonomous, fully-electric pod levitating and traveling at high speeds in a low-pressure environment. Hyperloop will significantly cut journey times of passengers and cargo between cities and countries and will be more energy efficient and sustainable than any current mode of mass transportation.
The Hyperloop Association aims to stimulate the development and growth of this emerging new transportation market, participate and support institutes in collaborating with government and regulatory agencies on transportation policymaking. Acting as a united entity representing the hyperloop industry, the newly formed association’s main goals will be to:
• Serve as the point of entry for the sector, positioning itself as the go-to organisation for all hyperloop-related matters
• Represent, advocate for, elevate and defend its members’ interests in all hyperloop endeavours
• Lever age its expertise to provide guidance and insights to decision-makers and stakeholders on hyperloop and associated topics
Based in Brussels, the Hyperloop Association will work closely with the European Commission, the European Parliament, Europe`s Rail Joint Undertaking, industry value chain stakeholders, research centres, and academia to advance the progress and facilitate the widespread implementation of the innovative transportation system across Europe and globally.
Ben Paczek, Hyperloop Association President, said: “The Hyperloop Association is looking forward to collaborating with European and international institutions, as well as industry stakeholders… and showcasing hyperloop technologies as a feasible cutting-edge, safe, and environmentally sustainable mobility solution of tomorrow”.
The Hyperloop Association welcomes corporations, public and private entities, and non-profit organisations that play a role in the hyperloop industry’s value chain to join as
members. Its founding members aim to promote inclusiveness and strong collaboration among industry experts, research and development entities, and academia.
hyperloopassociation.org
4.18 Sustainable Development Goals
No poverty. Economic growth must be inclusive to provide sustainable jobs and promote equality.
Zero hunger. The food and agriculture sector offers key solutions for development, and is central for hunger and poverty eradication.
Good health and well-being. Ensuring healthy lives and promoting the well-being for all at all ages is essential to sustainable development.
Quality education. Obtaining a quality education is the foundation to improving people’s lives and sustainable development.
Gender equality. Gender equality is not only a fundamental human right, but a necessary foundation for a peaceful, prosperous and sustainable world.
Clean water and sanitation. Clean, accessible water for all is an essential part of the world we want to live in.
Affordable and clean energy. Energy is central to nearly every major challenge and opportunity.
Decent work and economic growth. Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs.
Industry, innovation, and infrastructure. Investments in infrastructure are crucial to achieving sustainable development.
Reduced inequalities. To reduce inequalities, policies should be universal in principle, paying attention to the needs of disadvantaged and marginalised populations.
Sustainable cities and communities. There needs to be a future in which cities provide opportunities for all, with access to basic services, energy, housing, transportation and more.
Responsible consumption and production. We need to decouple economic growth from environmental degradation, increase resource efficiency, promote sustainable lifestyles.
Climate action. Climate change is a global challenge that affects everyone, everywhere.
Life below water. Careful management of this essential global resource is a key feature of a sustainable future.
Life on land. Sustainably manage forests, combat desertification, halt and reverse land degradation, halt biodiversity loss.
Peace, justice and strong institutions. Access to justice for all, and building effective, accountable institutions at all levels.
Partnerships. Revitalise the global partnership for sustainable development.
At InnoEnergy we follow the Environmental Social and Governance (ESG) principles for responsible investments. Moreover, the European Green Deal is at the core of our strategy. In this context, one important related element is the contribution we make to the Sustainable Development Goals
(SDGs) established by the United Nations.
As part of InnoEnergy’s commitment to making a positive impact on the energy sector, the environment, the economy and society, we assess the contribution the companies in our portfolio make to SDGs. Given
that certain SDGs have a direct link to InnoEnergy’s strategic goals of reducing CO2 emissions, increasing the security of energy supply, and the lowering of costs along the value chain, it is no surprise that 95% of the innovations we support contribute to SDGs 7, 8, 9, 11, 12 and 13.
Strengthening corporate governance by increasing operational transparency
Reduction of Environmental Impact
For InnoEnergy, this is not just a classification: SDGs are at the core of our investment process
and provide a means to measure impact. They are real goals that help measure social and environmental
impact and are essential to the future wellbeing and prosperity of our world.
Our events
Throughout the year, EIT InnoEnergy’s sustainable energy ecosystem gathers at various regional, national and international events, with networking always at the centre.
5.1 The Business Booster 2023 Amsterdam
On 18 and 19 October, Amsterdam transformed into ‘meeting point central’ for sustainable energy innovation and business as it played host to The Business Booster 2023. InnoEnergy’s annual flagship event attracted a new record of over 1,500 attendees from around Europe and beyond to explore the theme of the New Green Economy: Balancing profit and purpose.
Over two days, the InnoEnergy innovation ecosystem was in full action with high-level speakers, pitching sessions, exhibition visits and discovering new technologies, reverse pitching sessions, roundtable discussions, fireside chats and parallel sessions on critical topics to the new Green Economy. Over 3,200 B2B meetings took place during the event between entrepreneurs, corporates, investors and policy makers. However, there was a great deal more on offer.
Insights from thought leaders
The event’s roster of plenary speakers included representatives from industry, investors, policy, innovators and more as they
tackled key questions concerning Europe’s readiness for the new Green Economy, offering in-depth perspectives from the front lines.
Diego Pavia, CEO of InnoEnergy kicked off the 11th edition of The Business Booster, the leading innovation event in sustainable energy. Co-founder and Innovation Director at InnoEnergy, Elena Bou, set the stage by giving context to this year’s theme and explaining that solutions for the new Green Economy exist.
Other keynote speakers included the European Commission’s Executive Vice President Maroš Šefčovič, Constantijn van Oranje as special
envoy to Techleap.nl, Chairman of the Solar Impulse Foundation Bertrand Piccard, and the EIB’s JeanChristophe Laloux.
The energy transition and policy in focus Maroš Šefčovič Executive VicePresident at the European Commission opened the second day of The Business Booster. He delivered a message on competitive sustainability, outlining how Europe should maintain its tech and sustainability lead in the cleantech sector, making it the continent’s biggest advantage. On batteries, it was remarked that EU manufacturers need to take more responsibility for their supply
When you have a look at the success rate of the ecosystem, its much higher than it is for the global start-up market. Its a seal of quality.
LAURENT BATAILLE Executive Vice President, Schneider Electric France
To make decarbonisation a reality we need a clear collaboration between politicians, industry and other enablers, and you find them all here at The Business Booster.
DR. SOPNA SURY Chief Operating Officer, Hydrogen, RWE Generation SE
chains, including investing upstream to ensure reliable production, guaranteeing the highest social and environmental standards.
To more than 1,500 attendees, EVP Šefčovič left the following message: “We are ready to fight for European industry, we want you to thrive, succeed, create jobs and revenue. That’s our task.”
Jean-Christophe Laloux of the European Investment Bank reiterated its mission to finance the clean energy transition by laying out how the European Tech Champions Initiative aims to tackle the European scale-up gap.
Innovation and ecosystems
Bertrand Piccard delivered an inspiring speech reminding the
audience that modernising the world requires new processes and systems to be more efficient with both energy and natural resource use, as well as suggesting a new narrative around a clean, modern and inclusive economy.
During his fireside chat with Elena Bou, Constantijn van Oranje of Techleap.nl highlighted some of the challenges of the European start-up ecosystem such as lack of financing and the underestimation of the role of entrepreneurs.
150+ innovative technologies
A selection of InnoEnergy‘s portfolio companies exhibited their groundbreaking solutions, with prototypes and live demos. They also
pitched their solutions to investors, industry and policymakers and those voted best by the audience moved onto the pitching finals which closed out the event. Congratulations to the final pitching winners: 1st place Nevomo, 2nd place Elestor B.V. and 3rd place X1 Wind. Thank you also to all 150 portfolio companies who exhibited, pitched and connected with investors, corporates and policy makers.
Networking for impact
Beyond the sessions, TBB.2023 provided an ideal opportunity for networking – the heart of the event. Attendees seized the opportunity to connect, discuss potential collaborations, and share innovative ideas while forging new partnerships and accelerating the adoption of clean energy solutions.
Congratulations to the winners:
I encounter some of the most interesting tech companies in Europe and they are chosen by EIT InnoEnergy which is a very important quality stamp.
MALIN CARLSTRÖM
Former Senior Vice President, ABB Technology Venture
It’s always exciting to have this choice of topics, startups and technologies all in one place.
TEMA BENHALIMA-BOUVILLE
Global Innovation Director, ENGIE
Collaborating for the energy transition
With the largest gathering of the sustainable energy innovation ecosystem, the event offered the perfect opportunity for partnership launches and announcements.
Two InnoEnergy portfolio companies, Hardt Hyperloop and Zeleros, signed a MOU during the event to expedite the technical and commercial development of hyperloop in Europe to allow seamless transport across borders as the main priority.
The InnoEnergy Skills Institute team invited attendees to experience the Minecraft world, with its latest innovation and the ultimate way to test skills in contributing to a greener planet through gaming.
ManpowerGroup and the InnoEnergy Skills Institute announced their partnership to upskill thousands of people for green jobs by 2025. Finally, climate reporter for Bloomberg News, Dr. Akshat Rathi hosted a signing at The Business Booster for his first book, Climate Capitalism.
The Business Booster through the years
EIT InnoEnergy partners in the New Green Economy
InnoEnergy thanks all sponsors, particularly hosting sponsors Schneider Electric and SE Ventures for being partners in this edition and helping to create the future of sustainable energy. Thanks also to the diamond, emerald and sapphire sponsors as well as the event and media partners.
Be sure to register for The Business Booster 2024 in Barcelona!
It is one of the best places I have been to in the last couple of years where you can really just meet start-ups and entrepreneurs and have one to one dialogues, trying to solve the problems together.
LEE HODDER Director of Strategy & Chief Sustainability Officer, Galp
It is a great opportunity to not only discover promising startups but also to forge meaningful connections within the investment community.
CINDI BOUGH Managing Director, Climate Investment
So many incredible companies here, and its great to see how you’re working to scale them up to become global leaders.
CONSTANTIJN VAN ORANJE Special Envoy, Techleap.nl
5.2 Master School Connect
At the end of April, all roads led to Stockholm for first year EIT InnoEnergy master’s students. They were drawn there for Master School Connect 2023, a three-day event aimed at connecting students with peers, industry, alumni, and, of course, with InnoEnergy. The event was held at KTH Royal Institute of Technology, Sweden’s leading technical university, based in the heart of Stockholm.
The flagship annual event of the InnoEnergy Masters+ brought together around 200 students from 40 nationalities across Europe to bond and exchange experiences – while the occasion also afforded them the opportunity to meet and discuss a range of topics with attending energy experts, not to mention putting themselves in front of industry representatives always keen to recruit the best young energy talents.
As with Master School Connect events every year, students were keen to build their energy network - making inspiring connections that could last a lifetime.
While Master School Connect is the ultimate platform to link with some of the energy sector’s brightest minds, the programme was designed to inspire students to discover their potential in the energy industry. However, most importantly, it was an opportunity for students to come together and have fun, as demonstrated by the varied programme.
Activities began on the Thursday evening with a welcome & ice breaker event, followed by a reception cocktail & buffet. Friday events included a Rise & Shine session with breakfast, a fireside chat with InnoEnergy CEO, Diego Pavía, one-to-one meetings with companies and the Grand Finale of the Battle of
Green Talent – InnoEnergy’s student entrepreneurship competition
Saturday morning saw students participate in the 100 Point Challenge, a team competition around Stockholm city centre full of physical, creative and educational challenges that taxed both the mind and body. Following lunch, the Connect event concluded with an alumni panel and closing remarks.
Master School Connect is a clear example of how InnoEnergy strives to connect students with its ecosystem so that they can explore various career opportunities during their studies. And in Stockholm the students were able to build valuable connections for internships, thesis prospects and even jobs, making the event a powerful mix of social and career opportunities.
LAURA PEREZ
Exponential Roadmap Initiative and InnoEnergy Masters+ Alumna
InnoEnergy Master School Connect really provides the opportunity for students to get a further understanding of how it is exactly that companies work and what it is that they are looking for in students.
5.3 Battery event in Paris
In June, BPI France and the European Battery Alliance (EBA), led by EIT InnoEnergy, gathered together leading participants in the French battery ecosystem in Paris to look at the major issues affecting the industry, both in France and across Europe.
High-level speakers
Johan Söderbom, the InnoEnergy Thematic Leader, Smart Grid and Energy Storage, presented the fundamental drivers and the latest key trends concerning electric vehicles (EVs), stationary storage and technology.
Representatives of the European Battery Alliance, Thore Sekkenes and Ilka Von Dalwigk reminded attendees of the key role of the EBA and the extent to which this alliance is supported by the European Commission.
Oana Penu, the InnoEnergy Skills Institute Director was also there to remind delegates of the big challenges relating to skills, stating that:
• 800,000 workers will need to be retrained or upskilled by 2025
• Between 2015 and 2030, the amount of solar PV jobs is expected to quadruple
• The transition to net zero will require retraining up to 18 million workers around the world
• In the battery workforce alone, more than 700 new job types will be created
• Renewable energy sector employment will need to grow from 12 million in 2020 to 38 million by 2030
Fortunately, the InnoEnergy Skills Institute offers over 29 certifications and 80 programmes to meet these needs.
An industry on the move
Representatives of the French government and the Banque Publique d’Investissement (BPI) stated that the battery sector is on the move in France, with the announcement of four factories, the creation of 10,000 jobs, 100 to 120 GW of battery production capacity targeted by 2030, and 38 projects supported by France2030 schemes. It was emphasised that France’s battery strategy is based on four main themes:
• Developing a competitive industrial offering across the entire battery value chain
• Promoting the strengths of this national offering, by encouraging environmentally responsible and virtuous batteries
• Accelerating the transition of the EV transport sector
• Meeting recruitment and training needs
The event highlighted eight innovative European battery start-ups that came especially for the occasion – ElevenEs; Nawa Technology; Basquevolt; Tiamat; Mecaware; Beeplanet; WattAlps; and Mob Energy. Experts also gathered to discuss the subject of raw materials and how the battery industry can accelerate materials circularity.
THORE SEKKENES EBA250 Programme Director, EIT InnoEnergy
The European Battery Alliance (EBA250) has played a key role in advancing Europe’s battery ecosystem, with substantial support from the European Commission since 2017. Our action plan has accelerated industrial development across various sectors, including raw materials, active materials, battery manufacturing, application and integration, and recycling. This thriving ecosystem has grown remarkably and is set to continue expanding for many years to come.
Investing in talent and skills. Human capital
6.1 Human capital
EIT InnoEnergy’s commitment to Human Capital stems from the urgent need to invest in training, re-skilling, and up-skilling talent to drive the energy transition and foster sustainable growth. The future of energy depends not only on technological advancements but also on the people who will lead, manage, and innovate in this sector.
Achieving net-zero emissions and EU climate targets requires a skilled workforce in green industries. The global green economy, potentially worth $10.3 trillion by 2050, is rapidly expanding and will create 14 million clean energy jobs by 2030, along with 16 million jobs in other green sectors.
However, do we have the skilled workforce needed today? To overcome this challenge and accelerate the transition to a greener world, collaboration and solution-sharing are essential. InnoEnergy addresses this commitment through two main initiatives: InnoEnergy Masters+ and the InnoEnergy Skills Institute.
The InnoEnergy Masters+ programmes are a testament to this commitment, offering more than just a degree. The programmes are an entry into the world’s leading decarbonisation ecosystem, providing students with early career opportunities. The programmes consist of a double degree with MBA-level qualifications in commercial, digital, and entrepreneurial skills from top business schools, preparing graduates to make a significant impact in the energy sector. When they enter the labour market,
they add immense value to our ecosystem. They can drive change working for industry leaders, start their own innovative venture, or join our portfolio companies.
The InnoEnergy Skills Institute provides businesses with end-to-end skilling solutions at scale, regardless of location. Its innovative framework, including skills intelligence, training, and certification, ensures optimal outcomes: increased productivity, enhanced employee retention, and strict adherence to safety and compliance standards. Skills Intelligence Services identify an organisation’s skill needs, guiding informed decisions on talent acquisition and development, aligned with business goals. Personalised learning journeys from an extensive course library are tailored to organisational needs, reducing time to productivity, and enhancing employee retention. Industry-recognised certifications validate skills, enhance confidence, and promote a culture of excellence, adhering to industry standards and safety compliance. This customised approach ensures workforces excel in new energy jobs, driving growth in the solar PV, storage, and green hydrogen sectors.
MARTIN GULAN Associate Professor, Slovak University, Technology Skills Institute Train the Trainer
I signed up to be one of the trainers to disseminate relevant knowledge and skills in Slovakia. Completing the fundamentals on batteries and other courses from the battery storage expert programme helped me prepare for this role. The comprehensible lessons, references for further study, and modular structure of the courses are valuable for creating blended learning paths for various trainees from the industry.
The distinction between Masters+ and the Skills Institute lies in their approach and offerings. While Masters+ is an integrated educational programme for young engineers which combines technical and business education with real-world experience, the Skills Institute provides customised, innovative skilling solutions to meet the immediate needs of the businesses and their workforce.
InnoEnergy’s investment in Human Capital through Masters+ and the Skills Institute reflects a strategic approach to building a skilled workforce capable of leading the charge towards a sustainable energy future. By equipping individuals and businesses with the necessary skills and knowledge,
InnoEnergy is not only contributing to professional advancement but also drives innovation and accelerates the energy transition forward.
Renewable energy sector employment will need to grow from 2020’s 12 million figure to
38 million globally by 2030
The transition to net zero will require retraining up to 18 million workers around the world by 2030
800,000 workers will need to be retrained or upskilled by 2025 in the EU battery sector
Between 2015 and 2030 the amount of solar PV jobs is expected to quadruple
6.2 The launch of the InnoEnergy Skills Institute
The global transition to a decarbonised economy hinges on a skilled workforce. To address this critical need, EIT InnoEnergy launched the InnoEnergy Skills Institute in April 2023. This institute tackles the burgeoning skills gap by equipping professionals and businesses worldwide with the knowledge and expertise required to drive a sustainable energy future. The InnoEnergy Skills Institute is an evolution of InnoEnergy’s highly successful European Battery Alliance (EBA) Academy, expanding to also include the green hydrogen and solar photovoltaics (PV) value chains.
The scale of the challenge is immense. Industries like battery production require a significant talent pool, with demand expected to surge from 70 GWh in 2022 to a staggering 300 GWh by 2025. This translates to job creation across the entire battery value chain, with gigafactories alone expected to generate hundreds of thousands of direct and indirect jobs. Similar trends are unfolding in the solar photovoltaic (PV) sector, with the International Renewable Energy Agency (IRENA) projecting a quadrupling of the workforce by 2030 to reach 18 million.
InnoEnergy Skills Institute is strategically positioned to meet this demand. Inspired by InnoEnergy’s leadership in key industrial alliances for energy storage, green hydrogen, and photovoltaics, the institute offers a unique value proposition. Companies of all sizes, universities, and training providers worldwide can leverage its innovative framework, which includes skills intelligence, training, and certification. This innovative approach guarantees optimal
outcomes: increased productivity, enhanced employee retention, and strict adherence to safety and compliance standards.
The institute’s approach is characterised by agility and modularity. The institute caters to specific needs through customised programmes, ensuring its offerings are relevant regardless of location, size, or technology focus.
Skills Institute: A ThreePronged Approach to Sustainability
The institute’s comprehensive strategy for a sustainable future rests on three pillars: skills intelligence, training, and credentials.
• Skills Intelligence Services: This service provides organisations with in-depth insights into their specific skill gaps. Based on this analysis, Skills
Institute curates personalised learning journeys and recommends the most impactful training programmes to achieve industry partners.
• Comprehensive Training Portfolio: The extensive training portfolio caters to diverse needs. With over 270 lessons across 80 courses and programmes specifically designed for the battery value chain, and available in 10 languages, the institute ensures global reach and accessibility. This efficient training model guarantees reduced time to productivity and higher employee retention, boosting overall organisational efficiency.
• Industry-Recognised Certifications: By adhering to industry standards and emphasising safety and compliance, Skills Institute’s certification programmes validate skills, enhance employee
confidence, and foster a culture of excellence.
Collaboration is Key
The institute recognises the power of collaboration in driving change. Strategic partnerships with industry giants like ManpowerGroup - for creating skilled talent pools at scale and with NIIT for delivery excellence. Additionally, collaboration with SAE International, a leader in automotive engineering, guarantees the highest quality training specifically tailored for the sector.
By combining its unique offerings with a commitment to collaboration, InnoEnergy Skills Institute is wellpositioned to empower individuals and businesses, ultimately accelerating the transition to a decarbonised, sustainable future.
OANA PENU Director, InnoEnergy Skills Institute
The current workforce is not equipped to handle the dramatic shift that emerging green technology will bring. InnoEnergy Skills Institute is a focal point for skill-centric solutions, helping to create the workforce of tomorrow.
67,000+ upskilled learners
80 courses and programmes
4,000 industry partners
10 languages Website here
innoenergy.com/skillsinstitute
6.3 InnoEnergy Skills Institute partners with NIIT to combat significant energy transition skills gap
Shortly after the launch of the InnoEnergy Skills Institute, EIT InnoEnergy announced that it will strategically partner with NIIT for rapid scaling Skills Institute learning services that remove skills barriers for industries accelerating sustainability efforts.
The main goal of the partnership is to leverage NIIT’s presence and capabilities as a global talent development leader to rapidly scale and create the highly skilled and certified human capital essential for rapid transition to green energy.
The InnoEnergy Skills Institute is an evolution of InnoEnergy’s highly successful European Battery Alliance (EBA) Academy, expanding to also include green hydrogen and solar photovoltaics (PV) value chains. InnoEnergy Skills Institute specialises in skills intelligence, modular training, and industry-recognised qualifications and certifications. The institute delivers tailored solutions, empowering individuals and businesses with the essential skills for success in the ever-evolving sustainable energy landscape.
NIIT was chosen as a strategic learning services partner to provide services including onboarding, learning journey creation, training of teaching staff, and ensuring local training nuances are catered for. The InnoEnergy Skills Institute will also benefit from NIIT’s global reach and infrastructure, ensuring it can deploy services at pace and scale, accelerating training across Europe, North America, and Asia.
NIIT and InnoEnergy will work together on thought leadership initiatives as part of the strategic relationship. The transition to net zero will require retraining up to 18 million workers around the world. For example, between 2015 and 2030, the amount of solar PV jobs is expected to quadruple.
With 2023 marking the EU’s Year of Skills, the launch coincided with wider governmental initiatives to address the growing concerns about future-proofing the workforce. InnoEnergy’s leading role in key industrial alliances spanning energy, storage, green hydrogen, and PV mean it is perfectly placed to expedite the upskilling of workers across the energy industry.
Through the InnoEnergy Skills Institute, businesses, universities, and training providers can benefit from courses supported by a range of sector experts, alliances, and partnerships.
Sailesh Lalla, chief business officer at NIIT, commented: “With EIT InnoEnergy’s domain expertise and industry knowledge and NIIT’s education services industry leadership, our goal is to ensure that the InnoEnergy Skills Institute is recognised as a leading destination and thought leader for decarbonisation and green skills across Europe, North America, and Asia. With the combined strengths of both companies, we aspire
SAILESH LALLA Chief Business Officer, NIIT
Decarbonisation is the next industrial revolution leading to an unprecedented demand for skilled clean tech professionals. We are delighted to support EIT InnoEnergy with its latest advancement in the training and development domain.
to create a world-leading solution to the burning need for upskilling and reskilling across industries to create a flexible workforce that is adaptable to changing requirements.”
6.4 ManpowerGroup and the InnoEnergy Skills Institute partner to upskill thousands of people for green jobs by 2025
To meet the green transition’s demand for millions of new roles in renewable energy, electrification, battery technology, hydrogen and more, ManpowerGroup and EIT InnoEnergy announced a partnership to train and upskill 800,000 workers in the battery value chain across Europe by the end of 2025. This collaboration will help drive progress towards the European Commission’s goal of having a skilled workforce to support the European Union’s Green Deal.
The partnership between ManpowerGroup and InnoEnergy’s Skills Institute will provide accelerated virtual and in-person training for 70 in-demand roles including battery technicians, electric Vehicle (EV) charger maintenance operators, production engineers. Additionally, it helps drive progress towards the European Commission’s goal of having a skilled workforce to support the European Union’s Green Deal.
Riccardo Barberis, ManpowerGroup’s regional president of northern Europe, said. “Collaborating with InnoEnergy to build a pipeline of skilled talent who will support Europe’s transition to a net-zero future is not only smart business, but the right thing to do to help people level up their potential.”
The InnoEnergy Skills Institute provides flexible training that includes online courses and a combination of virtual and in-person lab experiences. The wide-ranging options include 29 certifications – totalling more than 400 online learning hours. All of these resources are accessible in more than ten languages and will enable career
changers to reskill and certify for green jobs as well as provide new entrants with the skills necessary to embark on green energy careers.
Oana Penu, director of the InnoEnergy Skills Institute, added: “We are excited to join forces with ManpowerGroup to accelerate these efforts and equip hundreds of thousands of workers with the skills needed to support Europe’s sustainability goals. At The Business Booster, we look forward to explaining our solutions and the vital role partnerships like this play in building a skilled workforce for the future.”
ManpowerGroup is recognised around the world for developing innovative solutions for hundreds of thousands of organisations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. These credentials dovetail perfectly with the InnoEnergy Skills Institute which offers an agile, modular approach to training to deliver the latest trends and training with adaptable, customisable courses and programmes that meet specific needs, regardless of location, size, or technology.
RICCARDO BARBERIS Regional President of Northern Europe, ManpowerGroup
This partnership is an investment in people and the planet, creating opportunities for individuals to have meaningful careers that benefit us all.
6.5 Powering the Transition to Net Zero Economies Report
The demands within the battery industry are diversifying, from lithium-ion batteries fueling electromobility to stationary battery storage systems. The clock is ticking, and to scale and meet the soaring demand, industry requires a skilled talent pool ready to act today.
In September, the InnoEnergy Skills Institute launched its latest report titled ‘Powering the Transition to Net Zero Economies’, looking into this critical industry and offering insights into unique job profiles across the battery value chain. Based on data from over 700 job profiles, it emphasises the indispensable skills needed to supercharge the potential of this industry. The report goes beyond theory, offering practical
examples of skills matrixes for pivotal roles such as battery system engineers and quality technicians.
The shift towards sustainable energy is more crucial than ever and the battery value chain – spanning from the sourcing of raw materials to manufacturing and recycling –is now experiencing exponential growth.
Moving towards 2025, the EU alone is expected to retrain a staggering 800,000 workers, underscoring the urgency of comprehending the intricate landscape of essential skills in this sector. The InnoEnergy Skills Institute’s report is a comprehensive guide that sheds light on the battery industry and the energy transition imperative.
Check the report
6.6 Green Energy City - combining gaming and education through Minecraft
InnoEnergy Skills Institute understands that when education blends with innovation and immersive experiences, it has the power to bring about profound transformations in young minds, shaping the architects of tomorrow’s sustainable world. It was this philosophy that led to InnoEnergy Skills Institute forging an early connection with Generation Alpha, the first truly eco-conscious generation, through the revolutionary Green Energy City in Minecraft, launched at The Business Booster in Amsterdam.
Introduction
Green Energy City is a collaboration between gaming experts, BlockWorks, energy specialists from InnoEnergy Skills Institute, and educational consultants, i2e, and is designed to be a high-quality learning resource in the realm of Minecraft. It is set to introduce millions of young learners to essential sustainable technologies, such as solar power and battery storage, in a way that is engaging, interactive, and profoundly informative. It’s available in two versions: Education and Marketplace. The Education version is for use in schools, while the Marketplace version is for use at home.
Unlocking the Green Energy World
Green Energy City is split into three zones. After completing the ‘Battery Lab’, players unlock the Solar and Battery zones where they can learn more about solar power and battery technology respectively.
• The Battery Lab Start gives an introduction to batteries: Gamers can learn about their history, key components, and how they work.
• The Battery Zone explains about the different types of batteries and their uses, the flow of current, and series and parallel circuits.
• The Solar Zone shows the path of a photon from the sun to a solar panel, and players discover how that can be turned into electricity. As players progress through the world, they will unlock special items such as unique electric vehicles, including e-bikes, e-scooters, and e-jetpacks! All of these vehicles will require recharging at electric charging stations and can be upgraded to increase their speed, battery life, and solar charging.
Generation Alpha: The EcoConscious Pioneers
This Minecraft Collaboration is aimed at Generation Alpha kids, a generation of unprecedented potential, set to represent over two billion children worldwide by 2025. They are the largest generation in history, with a strong focus on education and sustainability, poised to lead the way toward a sustainable future. It is hoped that Green Energy City can help to encourage these children to gain a valuable understanding of how they can contribute to a more ecoconscious world.
JAMES DELANEY Founder and Managing Director, BlockWorks
With 1 million downloads since its launch, Green Energy City demonstrates a strong interest from both gamers and educators in content that both educates and entertains on the topic of renewable energy. Green Energy City meets this demand with innovative gameplay that blends learning and fun in an accessible way.
Website here
6.7 InnoEnergy Skills Institute reaches milestone of 50,000 upskilled learners to support a growing battery industry
The InnoEnergy Skills Institute has announced the completion of specialised training courses for over 50,000 individuals, a significant step towards addressing the growing workforce demands in the battery industry.
Since the launch of the European Battery Academy in 2022, learners have undertaken training courses to gain skills necessary to thrive in a rapidly evolving value chain. Courses developed in collaboration with the European Battery Alliance range from battery fundamentals to technical courses for knowledge in battery management systems, battery testing, safety and security.
Markets within the value chain are showing significant growth potential, with annual demand for lithium-ion batteries projected to reach 4,700 gigawatt hours (GWh) by 2030 globally – an increase of more than six times the global usage figure of around 700 GWh in 2022. Stationary storage installations worldwide are also predicted to reach over 400 gigawatts by the end of 2030 – 15 times the battery storage capacity online at the end of 2021.
Market analysis signals 800,000 workers will need to be trained or upskilled by the end of 2025 to meet the new demand in Europe. In addition, more than 700 unique job profiles and skills in the sector have been identified in a recent report by InnoEnergy Skills Institute. The range
of occupations encompasses skills required to mine materials, design, manufacture, integrate within applications, decommission and recycle batteries.
The increasing growth trajectory of the Skills Institute has been facilitated by backing from 11 Member States and regions including Spain, France, Hungary, Gothenburg Region, Romania, Bulgaria, Flanders, Wallonia, Ireland, Slovakia, and partnerships with industry giants ManpowerGroup and NIIT.
Maroš Šefčovič, European Commission executive vicepresident, said: “We want our European industry to be leaders in the green transition. This of course include European manufacturers of sustainable batteries who, as recently announced, we will support with financial aid of up to €3 billion. With this support, but also with the continuation of our efforts to
prepare the workforce with skills for the evolving industry, we will bolster the competitive edge of our companies and secure a strong value chain for batteries. The European Battery Alliance skills programme serves as a successful blueprint for other sectors.”
Riccardo Barberis, Manpower Group’s regional president of northern Europe, added: “We are delighted to congratulate every learner who has developed new green skills, yet especially pleased to reach the milestone of 50,000 courses completed. This programme is an investment in people and the planet, creating opportunities for individuals to have meaningful careers that benefit us all.”
50,000 workers upskilled, milestone achieved by December 2023
87 trainers trained
MAROŠ ŠEFČOVIČ European Commission Executive Vice President
700 unique job profiles and skills
11 members states and regions
With this support but also with the continuation of our efforts to prepare the workforce with skills for the evolving industry, we will bolster the competitive edge of our companies and secure a strong value chain for batteries. The European Battery Alliance skills programme serves as a successful blueprint for other sectors.
6.8 NENY and 800 active learners
New Energy New York (NENY) and EIT InnoEnergy announced in February that they were joining forces to upskill the battery manufacturing and supply chain workforce in upstate New York. The collaboration aims to not only foster technological innovation but also address societal needs and promote inclusivity in the emerging field of battery technology.
Led by Binghamton University, NENY is a public-private ecosystem dedicated to advancing the battery industry in upstate New York. With the involvement of Nobel Laureate M. Stanley Whittingham – coinventor of the lithium-ion battery, a faculty member at Binghamton University and an advisor to the NENY team - the consortium stands as a significant player in the US battery community and is actively contending for substantial state and federal grants.
The NENY initiative has been designated as a tech hub for batteries by the Federal Government of the United States, while the consortium includes community and public colleges of the SUNY system, as well as other top-tier universities in the state of New York, K-12 education programmes, industry partners, government, economic development agencies, and nonprofits focused on clean energy and climate justice for socially and economically disadvantaged (SEDI) communities.
Addressing the critical challenge of a shortage of skilled labor through the development of a battery hub, the collaboration focuses on community development and workforce training in an economically challenged region.
InnoEnergy Skills Institute is playing a pivotal role by providing the battery
academy with courses and facilitating the acquisition of funding opportunities. It was also able to immediately provide a range of relevant courses, saving NENY significant curriculum development time.
Per Stromhaug, Associate Vice President for Innovation and Economic Development at Binghamton University, said: “I am pleased to announce this agreement and partnership with InnoEnergy which will provide an excellent boost to upskilling local members of the battery manufacturing workforce.”
NENY’s commitment extends to bringing historically underrepresented communities into the battery space by increasing awareness of the technology and access to job training. Recent efforts include the establishment of the first High School learning programme and lab in the U.S. for power electronics focused on energy storage technology and applications. There are plans to open two more in 2025.
By the end of 2023 the programme had already engaged over 800 learners. Active planning is underway to expand across the country under a ‘franchise’ agreement, with plans for codeveloping workforce development labs and a virtual gigafactory.
STACEY JOHNSON
New Energy New York Workforce Development Director
The greatest value we’ve seen through our partnership with InnoEnergy Skills Institute is that it is truly collaborative. We’ve introduced concepts and trained over 650 people in just nine months for jobs in clean energy. Together, we are transforming rural communities throughout New York, with plans to scale nationwide. Without each other, we wouldn’t be where we are today.
6.9 InnoEnergy and Schneider Electric sign partnership for talent development
In a groundbreaking move to drive energy sector innovation and sustainability, EIT InnoEnergy and Schneider Electric unveiled a strategic partnership in education, extending from workshops and seminars to energy-focused Master’s programmes.
The collaboration positions Schneider Electric as a pivotal influencer and enabler in shaping the educational and professional trajectories of future electrical engineers. As an official partner, Schneider Electric will also gain exclusive access to a pool of skilled graduates from prestigious universities linked with InnoEnergy Masters+.
The partnership enables Schneider Electric to stay at the forefront of emerging trends and technologies – and reinforces its position as an industry trailblazer, contributing significantly to the advancement of knowledge and innovation.
This cooperation aligns seamlessly with EIT InnoEnergy’s philosophy of fostering innovation by providing a platform for talented individuals to thrive, ensuring a sustainable talent pipeline for the energy sector’s future needs.
This latest collaboration marks a significant milestone in the two organisations’ longstanding relationship, originating in 2010 when Schneider Electric joined as an associate partner of InnoEnergy, and became a shareholder in 2015.
GWENAELLE AVICE HUET
Executive Vice President of Europe Operations, Schneider Electric
It can be challenging finding the right people to join companies. That is why it has been many years since we have a collaboration with EIT InnoEnergy. Now students can work on key topics like electrical networks, the grid and energy within smart cities.
6.10 Cultivating a generation of sustainability gamechangers
EIT InnoEnergy has an illustrious history of helping students create their own start-ups, with many exciting new companies being born during their studies. Below are highlights of just a few successfully launched start-ups achieved by alumni from InnoEnergy Master School. From climate fintech apps to energy-storing electric vehicles, their success stories showcase the power of combining innovative ideas with EIT InnoEnergy’s supportive ecosystem.
Climatize, a mobile app launched in 2021, empowers individuals and organisations to invest in climate projects with a minimal investment of $5. This socially impactful start-up has been so successful that William Wiseman and Alba Forns, co-founders of Climatize, were recognised by Forbes 30 Under 30 2023 Social Impact for their work on climate finance.
Founded as a university project at ESADE during the InnoEnergy MSc RENE programme, Climatize aspires to be the go-to platform for peoplepowered climate action. Climatize’s co-founders, William Wiseman and Alba Forns, credit their InnoEnergy education for providing the foundation and connections that were instrumental in launching their successful business. Their vision has already translated into securing $735,000 from investors and government grants, with a project pipeline valued at a staggering $155 million.
Plaex tackles the age-old recycling dilemma with their user-friendly automatic waste sorting bins. Perfected through pilot programmes, Plaex is now market-ready, attracting funding and partnerships, poised to revolutionise waste management practices.
Tether, the brainchild of alumni Martim Perestrelo and Luis Medina
Rivas, offers a win-win solution for climate change and electric vehicle owners. Their innovative technology transforms electric vehicles into energy storage units, not only combating climate change but also rewarding owners for their participation. After winning the 2021 EIT Jumpstarter competition, Tether secured an advisory board, developed software, and partnered with an energy storage company, propelling their venture forward.
Green Marine, led by alumnus Haoming Wang, champions sustainability in the maritime industry with solar-powered cargo containers. InnoEnergy’s programme equipped him with the skills and vision to push for a greener future in shipping, demonstrating the impact the programme has on fostering innovative solutions across various sectors.
reLi confronts the challenge of efficient battery storage with cuttingedge software. This start-up has secured grants and successfully completed pilot projects. They’re now expanding their team and finalising their product, poised to make a significant impact in the energy storage landscape. These success stories showcase the power of combining innovative ideas with InnoEnergy’s supportive
ALBA FORNS Co-founder,
Climatize
Both EIT InnoEnergy and ESADE have been very supportive and provided invaluable connections within the industry. It’s empowering to make fighting climate change easier than ever before.
ecosystem. InnoEnergy congratulates these alumni and looks forward to seeing more success stories emerge from their network of passionate entrepreneurs who are building a sustainable future.
6.11 Real-world projects build on theoretical learning for students
Real-world projects are a major part of the InnoEnergy Masters+ programmes – and an invaluable learning experience for the students. Two real-world projects demonstrate how EIT InnoEnergy students can benefit from applying the concepts they’ve learnt in the classroom to practical scenarios.
Energy flexibility project in Uppsala, Sweden
David del Rio, a Master in Energy Technologies student, shares details of his project. “In Uppsala, growing renewable energy penetration and an increasing population has led to grid bottlenecks. So, the municipality is exploring practices around energy flexibility to more accurately control energy demand and production. Our project focused on demand-side flexibility (DSF) and recommended actions for the municipality to increase this by 2030.”
Tobias Steggemann, David’s project colleague, adds: “The purpose was to learn about project management in a real-life energy project – which we certainly did! We also learned to deal with several stakeholders and improve our teamwork skills.”
Tobias concludes: “Through this project we worked a lot on assumptions and learned how to deal with uncertain outcomes - something engineers are not used to.”
At the closure of the project, the students presented their findings in the Uppsala town hall to their ‘clients, the Uppsala municipality and STUNS Energi – a foundation for collaboration between the universities of Uppsala, business and society.
Project Cirln
The integrated Project of the Year (iPoY) of InnoEnergy Master’s in Sustainable Energy Systems is an exciting chance for students to dig their teeth into a real-world project and apply the concepts they’ve learnt. Fourteen students took up the year-long challenge of their iPoY – setting up the framework for Industrial Symbiosis (IS) in Boden, Sweden.
The CirIn – Circular Industries –connects industrial stakeholders by creating value from otherwise wasted material and energy streams. The team chose Boden since it is a small city with largescale renewable energy production and a very supportive municipality. The project was the perfect springboard for IS which can create sustainable ecosystems and increase the supply chain and food security. Its aim was to develop a methodology to design an IS network that determines where the benefits come from and then figure out how to keep it running successfully.
As the team prepared their final results, they stated: “Our findings will show that Industrial Symbiosis can be helpful to the environment and has economic advantages. We’re laying a solid foundation for
JULIAN HAUSWEILER Master in Sustainable Energy Systems
This project has been an incredible opportunity to collect hands-on industrial experience and has been one of the highlights of our studies.
future development in Boden, which can be a shining example for cities worldwide.”
6.12 Student entrepreneurs praise EIT InnoEnergy’s Battle of Green Talent
The Battle of Green Talent (BoGT) takes students on a journey through a virtual entrepreneurial ecosystem. The goal is to bring innovative ideas for sustainable energy to life. During this sixmonth competition, EIT InnoEnergy students and alumni transform their bright ideas into promising businesses, surrounded by talents, virtual investors, and advisors. The 2023 competition saw two worthy teams win first and second place.
Cybele Dryers secures first prize
After months of intense competition and evaluation, Jennifer Ortiz, (X-Polytechnique) and Görkem Balyalıgil (KTH), the brains behind Cybele Dryers, emerged victorious with their innovative project. Their sustainable drying solution aims to empower South American cocoa and coffee bean farmers, revolutionising their profitability and quality of life. Their win secured them a €10,000 cheque and they can also enjoy InnoEnergy’s Student Incubation Services.
When asked about the inspiration behind Cybele Dryers, Jennifer Ortiz explained: “I had the opportunity to meet several coffee and cocoa farmers in both Ecuador and Colombia, and they all shared a common challenge, losing potential profits from not being able to dry their production on their own.”
This common challenge inspired her to develop a solution that would empower these farmers and enable them to take control of their own drying process.
Heat storage start-up grabs second place
Coming a highly creditable second in the Battle of Green Talent was
Team Enersoul. Their innovative idea is to develop a high-temperature, sand-based heat storage system that recovers waste heat from the exhaust gases of heavy industries and allows the reuse of that heat.
Congratulations to Rajkaushik Borgohain (ENTECH), Achraf Bechara (ENTECH at G-INP), Jeremy Ericsson Sintong (ENTECH), José Malhó (ENTECH), Alex Berezhnoy (RENE at KTH) and Yusuf Gürkan (RENE at KTH), won €5,000 cash and can also enjoy InnoEnergy’s Student Incubation Services.
The Enersoul team also simultaneously competed in the MIT Climate & Energy Prize. Although they didn’t win, the team really enjoyed competing at the Massachusetts Institute of Technology (MIT) Boston. The MIT Climate & Energy Prize competition is an annual event that invites students and entrepreneurs worldwide to present innovative projects addressing climate change and energy sustainability. With their experience from participating in these competitions and the €5,000 they’ve won in InnoEnergy incubation services, they are ready to hit the ground running with their start-up!
JENNIFER ORTIZ Cybele Dryers Project Creator
The BOGT was a great platform to receive feedback about our project… and allowed us to evaluate our project more deeply.
ALEX BEREZHNOY
Team
Enersoul participant
BoGT was our most intense experience so far. The huge audience, the dark room, and the fear of the red lights when your time is up… absolutely thrilling.
6.13 Twin brothers share a path to Total Energies for their Master’s thesis
Twin brothers Alexander and Frederik Van Ballaer are students from the Master’s in Renewable Energies programme and share what it’s like to work on their master’s thesis at TotalEnergies (TTE).
Working in a team at TTE, Alex explains: “I get to use my technical knowledge in a business development scope, working on an offshore wind development proposal. With technological and ecological elements to be researched and worked out, the challenge is bringing them together into one thesis project.”
Of his role, Frederik says: “I’m focused on offshore wind business development in Germany, a country with massive renewable ambitions. Our team deals with competitor analyses, market developments, legislation, and political reform from a regional to a European scale. It’s fast-paced work, with unexpected challenges almost daily, which helps keep me motivated!”
For students, connecting to industry before graduation is key to getting their careers off to a successful start, and Alexander believes InnoEnergy really supports students in this area: “The connection to industry is quite good with regular excursions, networking events and guest lecturers during both years of the programme.”
ALEXANDER VAN BALLAER Master’s in Renewable Energies student
I’m very grateful for the direction the EIT InnoEnergy programme has allowed me to take so far!
6.14 Fuelling dreams and forging connections at The Business Booster
Eziagbor Osele’s passion for sustainable energy began during a conference back in Nigeria, where she first glimpsed the vast potential this industry holds, both for individuals and communities. She is now a Master’s student at EIT InnoEnergy and her highlight to date was attending InnoEnergy’s flgagship event, The Business Booster.
Each year InnoEnergy select several second year Master School students to support the 150+ portfolio companies exhibiting. Eziagbor Osele was tasked with assisting a company that focused on a subject she held dear – green hydrogen.
Eziagbor explains: “My role on their booth involved speaking about the company, taking note of every individual and potential investor and sharing my knowledge about green hydrogen.”
As well as excelling as a student assistant, Eziagbor reveled in other sessions, plenary discussions, pitching events, and networking opportunities. She concludes: “Overall, the entire experience filled me with a profound sense of pride.”
EZIAGBOR OSELE InnoEnergy Master’s student
I received positive feedback from investors and potential partners.
6.15 Connecting talent to industry during Career Impact Challenges
A standout component of the InnoEnergy Masters+ are Career Impact Challenges, an initiative that seamlessly bridges the gap between students and industry leaders. The challenges saw active participation from six leading companies, including InnoEnergy shareholders and portfolio companies: ABB, ENGIE, Galp, Northvolt, Schneider Electric, and Siemens Energy.
The Career Impact Challenges in December brought together 160 talented students at ENLIT Europe 2023, tasked with solving real-life cases presented by the participating companies. The first two days were dedicated to intensive problem-solving sessions, while the third day was dedicated to students presenting their innovative solutions during pitch sessions.
The Career Impact Challenges not only provided students with a platform to apply their skills in a real-world context but also
facilitated meaningful connections between academia and industry. As the energy landscape evolves, initiatives like these play a pivotal role in nurturing the talent that will drive positive change and innovation in the energy sector.
The event was also the setting for the announcement of a broader cooperation between EIT InnoEnergy and Schneider Electric for talent development. The company will sponsor the Master’s in Smart Electrical Networks and Master’s in Energy for Smart Cities.
MATTEO VARISCO Product Owner – Digital Innovation (Global), ABB Electrification
We need disruptive ideas and ways to challenge the status quo. The EIT InnoEnergy Career Impact Challenge is a brilliant opportunity to do this.
Diversity
Diversity, inclusion and equality are core EIT InnoEnergy values.
7.1 Powered by diversity
We remain committed to extending a warm welcome to everyone. We strive to ensure every voice is heard, recognising the invaluable contributions that different viewpoints bring to our innovative business. Having a variety of perspectives at all levels equips us to better serve the diverse communities we engage with.
Our commitment spans the entire employee life cycle. We actively recruit individuals from diverse backgrounds. As of 2023, our workforce includes employees from 38 nationalities, maintaining a balanced gender ratio. We ensure that every team member is involved, valued, and receives equal recognition and opportunities for advancement.
Leveraging the diversity of our people creates significant additional output for our company. Diverse teams foster creativity and innovation, leading to enhanced problem-solving and more effective decision-making. This diversity of thought and experience drives our success and helps us stay ahead in the competitive landscape of sustainable energy.
Diversity also ensures a stronger connection between our people and our customers. A diverse workforce reflects the broad range of communities and customers we serve, enabling us to understand and meet their unique needs more effectively. This connection builds trust and fosters long-term relationships, as customers feel represented and valued.
INÉS PASCUAL MIR
Diversity Manager, EIT
A tangible example of our commitment to diversity and inclusion is our initiative to maintain and increase the participation of women in various roles and all levels across the company.
Our specific goals and achievements include:
• Ensuring that the Executive Board and Supervisory Board remain represented by least 30% females (2023 = 30%)
• Achieving at least 25% female graduates from our Master of Science programmes (2023 = 35,1%)
• Thriving that no less than 10% of supported start-ups will have at least one female co-founder, CEO, CFO, or CTO (2023 = 8%)
In 2023 we also launched the first edition of the InnoEnergy Talent Acceleration programme. Potentials from different departments, locations, nationalities and job levels were challenged – as an individual and as a team – to boast their development and review our company’s core values.
In all areas of the employee experience—recruitment, compensation, career development— and in all interactions with customers and communities, InnoEnergy upholds the principle of merit. We do not (positively) discriminate based on age, social status, race, color, disability, ethnic or social origin, national minority membership, opinion, economic status, religion, or spiritual belief.
Diversity, inclusion and equality of opportunity are core EIT InnoEnergy values. We are committed to extending the same warm welcome to everyone, whatever their personal journey. We strive to ensure every voice is heard.
We value the contributions that different viewpoints make to our business of sustainable energy innovation. By leveraging the diversity of our people, we create a dynamic and inclusive environment that drives our success and allows us to meet the needs of the diverse communities we serve. We extend our commitment across the career cycle by recruiting people from diverse backgrounds and ensuring every team member is involved, valued, and provided equal opportunities for advancement.
Diversity is not an event, it is in our DNA, it is what we do
Nationality of our employees
7.2 Diversity, inclusion and equality in action
Lowina Lundström, CEO of EIT InnoEnergy Scandinavia, explains what diversity means to her and how it contributes to the success and innovation of her team.
What motivated you to pursue a professional path in the energy industry?
First, the energy industry is, without any doubt, the most important industry to create prosperity for mankind, and secondly, it is without any doubt the most important industry to reach net-zero and a planet to live on for coming generations.
Could you share your experience of navigating a career within the energy sector as a woman?
The energy sector is dominated by males; however, I have always been welcomed and accepted in a very positive way. Most of my colleagues, both male and female, have respected me for my contribution and have always been very helpful. The energy sector has, at least from my perspective, a positive working climate with a high level of knowledge and a willingness to make a difference.
As the CEO of InnoEnergy Scandinavia, what are the ways in which you would like to foster diversity and inclusion within your team?
In order to succeed, we need diversity, and we need inclusion within my team but also within InnoEnergy and our ecosystem, we can only succeed together!
I will build the team on trust and psychosociological safety, in that way members of the team will share their thoughts, problems, and contributions without fear. To build trust, as CEO, I will lead by example, showing trust, vulnerability and focus on teamwork and results.
How do you envision diversity contributing to the overall success and innovation of your team?
I have experienced myself the importance of having a diverse working team. Different perspectives are brought to the table meaning that we have a more complete and complex picture of a situation which will lead us much faster to solutions and success. I will continue to create a diverse team, based on competence, personalities and efforts.
How essential is diversity in the context of accomplishing our decarbonisation goals? It is crucial! In order to accomplish our decarbonisation goals, we need all the best people with their best competences in place.
LOWINA LUNDSTRÖM
CEO, EIT InnoEnergy Scandinavia
Different perspectives are brought to the table meaning that we have a more complete and complex picture of a situation.
Mark Vasu, Head of Sales for the InnoEnergy Skills Institute, emphasises the crucial role his team plays in engaging diverse audiences, including individuals with varied learning styles and abilities.
As Head of Sales for InnoEnergy Skills Institute, can you explain your role and what diversity means to you?
I oversee the sales and revenue strategy and results globally, with a primary focus on Europe and North America. Our team of six is organised by territory and based in: Iberia, France, Germany, Central & Eastern Europe, Scandinavia, and North America. Diversity is central to our work in a few ways.
Some of our target customers have goals to help learners from disadvantaged communities, and support community-based efforts to provide training that is inclusive. Others target unemployed or underemployed workers that are prioritised in a local community that, for example, announces that it will build a new battery manufacturing plant and seeks local employees. Whether it be a battery hub in rural New York or rural France, the issue is the same. Finally, our partners such as ManpowerGroup and the Society of Automotive Engineers (SAE) are serving major auto OEM’s or battery companies and are asked by them to include diversity as a component of their talent acquisition and skills strategy.
How do you foster diversity within the InnoEnergy Skills Institute team?
We celebrate a culture of inclusivity, with a team made up of individuals from diverse cultural backgrounds, generations, and LGBTQ+ communities. Every day we encounter differences and nuances from language to norms. Not to mention the fact that we work across eight time zones!
What opportunities have you been able to embrace while championing InnoEnergy’s diversity agenda?
Our vision is to equip the global workforce with the skills needed for the energy transition. To succeed, that workforce which is estimated to be more than 20 million jobs, must come from all backgrounds. The reward for us is in designing skills solutions that reach learners of all types and preferences. This way we can bring them under the big tent of the energy transition. It is all hands on deck.
Can you give examples of positive outcomes from working across multiple continents?
I think the benefit of working across multiple continents is represented in the diversity of approaches to problem solving, delivery, relationship building, and management of both internal and external forces. We also leverage the diversity of knowledge housed at InnoEnergy as we work with global multi-national assets that operate in the US and EU. When we began the journey of introducing the Skills Institute into the US market, we found a respect for European commitment and progress in building a battery value chain via the European Battery Alliance. We also found a willingness of US customers to ‘buy vs. make’ a proven skills solution. At the same time, there are sensitivities in the US market for ‘not invented here,’ but we’ve been able to overcome many of those through local partnership. Our collaborative nature and operating
MARK VASU Head of Sales, InnoEnergy Skills Institute
We celebrate a culture of inclusivity, with a team made up of individuals from diverse cultural backgrounds, generations, and LGBTQ+ communities.
culture is reflected in our ability to listen, playback, and respond to the customer.
What more do you think can be done to support diversity within the workforce?
Whether it be our team, customers, learners, or territories, the opportunities to weave in diversity are always present. For education and job roles alone, our curriculum is relevant to those with less formal education to those with PhDs. Our learning designers are constantly incorporating instructional design methods to reach diverse audiences – including those with diverse learning approaches and abilities.
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EIT InnoEnergy is the trading brand of KIC InnoEnergy SE