InnoEnergy welcomes the intention of the European Union and Breakthrough Energy to create Breakthrough Energy Europe, a €100M joint investment fund to accelerate clean energy innovation. The fund will serve as a pilot investing in European companies working on grand climate change challenges.
Diego Pavia, CEO at InnoEnergy said: “Driving clean energy innovation has been at the heart of InnoEnergy’s mission for the past eight years. This announcement is the next step on the journey to bringing innovations to the global market faster and more efficiently. We’re ready to work with Breakthrough Energy in Europe – whether that be through presenting our start-ups or sharing our extensive expertise in the European market. One thing is for certain, the welcome mat is out Mr. Gates.”
In the European Commission’s release President Juncker stated: “Pooling public and private investment in new, innovative clean energy technology is key to enabling long-term solutions to reduce greenhouse gas emissions”. InnoEnergy is already delivering that vision as its latest Impact report demonstrates. Since its inception in 2011, InnoEnergy has become a trusted innovation partner, supporting 200 start-ups, raising €117M of external funds and building an ecosystem of 400+ partners globally.
Vice-President Šefčovič stated that Breakthrough Energy Europe will also serve as an example of “joining forces to accelerate breakthrough innovation in Europe”.
Pavia adds: “Let’s share this monumental journey hand-in-hand. Innovation is the answer to climate change. By working together, we can have the potential to achieve significant and lasting reductions in greenhouse gas emissions as mentioned by Commissioner Moedas.”