02 February 2016
KIC InnoEnergy, the innovation engine for Europe’s energy industry, is delighted to welcome Schneider Electric, the global specialist in energy management and automation, as a shareholder and formal partner.
Schneider Electric has been an associate partner of KIC InnoEnergy since it was launched in 2010. This change of partnership status marks the first time since 2011 that an industrial player has “upgraded” its involvement and will see Schneider Electric taking an increased commitment in the activities and the governance of the company. This new partnership status will also serve to reinforce Schneider Electric’s relationship with KIC InnoEnergy’s network of partnerships across Europe.
Sylvain Paineau, Schneider Electric’s Innovation & Partnerships Europe Director, said: “This is an important step for Schneider Electric and our ongoing relationship with KIC InnoEnergy. During our 5 years of being an associate partner, we have become more and more involved in the KIC InnoEnergy’s key areas of activity – education, business creation and innovation. This period has really crystallised our interest in becoming a full partner and deepening our participation in the organisation.
“KIC InnoEnergy is at the centre of a rich ecosystem of businesses and educational institutions. This makes for fertile ground for global companies like ours seeking what we like to call open innovation – truly free thinking and creative ideas, in our market sector.
“This new status aligns perfectly with Schneider Electric’s strategy to build energy management and automation technologies that ensure Life Is On everywhere, for everyone and at every moment. By increasing our involvement in KIC InnoEnergy, we invest in innovation to accelerate growth.”
Richard Biagioni, CEO of KIC InnoEnergy, France said: “We’re delighted that Schneider Electric has raised its involvement and interest in KIC InnoEnergy. Our goal has always been to be a strategic partner for industry in terms of innovation. Our partnership with Schneider Electric will see an ever closer working relationship and deeper alignment of each other’s strategies.
“The news also underlines our commitment to evolve as an organisation and allow our stakeholders to evolve with us. We are keen to see our partners increase their involvement and participation – it helps us develop as an enterprise and this openness to participation is part of the reason KIC InnoEnergy’s share value has increased 17 fold over five years.”
During the General Assembly held on the 23 June 2015, the shareholders at the unanimity approved the accession of Schneider Electric as a new Formal Partner of the company. This was officially formalised on 31 December 2015.
To download the press release, click here.