EIT InnoEnergy home page News & events EIT InnoEnergy invests in Nevomo to support the development of the next generation of high-speed railways

News & Events

02 November 2022

EIT InnoEnergy invests in Nevomo to support the development of the next generation of high-speed railways

EIT InnoEnergy, the innovation engine for sustainable energy across Europe, has invested in Nevomo, a European deep-tech company developing the next generation of high-speed rails, to accelerate the rollout of its hyperloop-inspired MagRail technology. Used to upgrade existing railway infrastructure this proprietary solution combines magnetic levitation and linear motor enabling speeds of up to 550 kph.  EIT InnoEnergy’s investment is part of a €5 million bridge round with Hutter Private Equity, ValueTech Seed, and Seedrs which was concluded earlier this year. EIT InnoEnergy is supported by the European Institute of Innovation & Technology (EIT), a body of the European Union.

EIT InnoEnergy’s investment is part of a €5 million bridge round with Hutter Private Equity, ValueTech Seed, and Seedrs

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