We have announced a new collaboration with Siemens designed to bolster energy transition projects in Spain. Aimed at fast-tracking the decarbonisation of hard to abate industries and mobility, the strategic alliance combines Siemen’s expertise in digital transformation with EIT InnoEnergy’s leadership in accelerating innovative and sustainable energy companies across Europe.

Under the partnership, Siemens, through its financial arm Siemens Financial Services (SFS), will participate as a shareholder in EIT InnoEnergy. It will act as a technology partner, working alongside EIT InnoEnergy in the region on a variety of projects. It will leverage its knowledge of cutting-edge technologies such as digital twin, artificial intelligence, predictive maintenance, and energy consumption monitoring to help businesses meet efficiency and profitability targets.

Agustin Escobar, President, and CEO of Siemens in Spain said: “It is a priority for us to accelerate the digital transformation and the decarbonisation process of industries in Spain. Now, together with EIT InnoEnergy, we are strengthening our ability to drive new projects in strategic sectors within our economy.”

SFS has been a shareholder of EIT InnoEnergy since the end of 2021, contributing its experience in financing large-scale industrial projects focused on sustainability. Now other divisions have joined the alliance such as Siemens Digital Industries – providing expertise on

digitalisation and automation solutions, including smart infrastructures for electrification technology. In 2023, along with other shareholders, SFS and EIT InnoEnergy collaborated on establishing FerigHy, a company to lead the decarbonisation of the European fertiliser market. FertigHy produces zero-carbon fertiliser in a way that is affordable for European farmers and will build its first plant in Spain, with construction beginning in 2025.

Mikel Lasa, CEO of EIT InnoEnergy Iberia comments: “We have set ourselves a mission to continue expanding our participation in decarbonising hard to abate industries, including battery and PV value chains. Together with Siemens we can accelerate our ambitions, providing crucial support to businesses in Spain that will make a real difference to the future of the region and the global energy transition.”

Ranked as one of the leading and most impactful investors in Europe, EIT InnoEnergy supports and invests in new ideas, products, and sustainable solutions. It has a portfolio of more than 200 companies, which are estimated to generate €110 billion in revenue and save 2.1G tonnes of CO2e accumulatively by 2030. Collectively, these companies have raised more than €9.7 billion in investment to date.

Siemens, as a leading technology company, transforms the daily lives of millions of people around the world by combining the real and digital worlds. Due to its technological focus on industry, infrastructure and mobility, the company is able to solve the most complex challenges with flexible and adaptable solutions, accelerating digital transformation and adding value to its customers. The technology giant offers cutting-edge solutions such as digital twin, artificial intelligence, predictive maintenance and energy consumption monitoring through the different tools available within its digital portfolio, named the Siemens Xcelerator. These technologies are already in deployment in a range of business sectors – improving efficiency, proactivity and time-to-market, whilst reducing energy costs.