All news, insights and events
All news, insights and events
All news, insights and events

EIT InnoEnergy 2023 Annual Review  

2023 was a pivotal year for EIT InnoEnergy, as we continued to support Europe’s reindustrialisation and accelerate the decarbonisation agenda. The Annual Review will delve into last year’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.    

Advancing Net-Zero Goals

Since 2010, InnoEnergy has championed sustainable energy and industrial transitions, providing resources, support, and mentorship to innovators. Our ecosystem fosters ambitious industrial entrepreneurs, innovators, and students. 

Major Achievements in 2023

Private Placement: In September, we completed a €140 million private placement, attracting six new strategic corporates and reinvestments from eight shareholders. This funding allows us to support more projects, grow our 200 portfolio companies, and seize new regulatory opportunities. Our valuation now exceeds US $1 billion, earning us Unicorn status. 

Industrial Value Chains: We continued leading the European Battery Alliance, European Solar PV Industry Alliance, and European Green Hydrogen Acceleration Center, driving significant new industrial GDP in Europe. 

Company Builders: We launched new industrial companies like Repono, GravitHy, Holosolis, and FertigHy, addressing Europe’s growing demand for decarbonised industrial products and requiring €160 billion of equity and debt until 2030. 

Innovative Portfolio: In 2023, we added 16 startups and executed 14 exits, maintaining a portfolio of 180 companies. These companies are projected to generate €110 billion in revenue and save 2.1G tonnes of CO2e by 2030, having raised over €9.7 billion in investment. InnoEnergy was also ranked as the most active energy investor globally by PitchBook for the third consecutive year. 

The Business Booster: Our annual event in Amsterdam attracted over 1,500 attendees, showcasing portfolio companies and advancing the theme of “The New Green Economy: Balancing Profit and Purpose.” 

Recognition: Elena Bou, our Innovation Director and co-founder, received the Nobel Sustainability Trust Award for her contributions to sustainable energy startups. 

 

Read the full report here and join us in celebrating another year of innovation, growth, and sustainability.