ENION I ENERGY FUND, the energy transition fund has made its first closing and today welcomes the E.P.E. Institute for the Diversification and Saving of Energy (IDAE). IDAE, is a body assigned to the Ministry for the Ecological Transition through the Secretary of State for Energy, to which it reports. It is one of the main players in the implementation of the energy transition in Spain and joins ENION as a strategic investor to support technological solutions that contribute to the decarbonization of the economy, having committed a disbursement of up to €3M, depending on the investments made by the fund.

ENION has started investing in early-stage technology-based start-ups, including EIT InnoEnergy portfolio companies, coming from its acceleration program, alongside market deals. Priority investment areas for the fund include energy production solutions from renewable sources and distributed generation, energy storage, green hydrogen, electric mobility, digitization of the electricity system and circular economy solutions for reducing energy consumption.

The world’s largest innovation engine and initiator of the fund, EIT InnoEnergy will play an active role as an investor in the fund. EIT InnoEnergy is supported by the European Institute of Innovation and Technology (EIT), which is a body of the European Union.

Full story on the press release here in English and here in Spanish.