EIT InnoEnergy, Europe’s leading climate tech investor, has announced plans to mobilize up to €160 billion ($182.4 billion) in clean tech investment by 2030, solidifying its role as a key player in industrial decarbonization across the continent, according to its newly released 2024 Impact Report.

Despite geopolitical volatility and sluggish capital markets, the EU-backed innovation engine reports record-breaking metrics from its portfolio of clean tech ventures, showcasing economic, social and environmental returns that place it among the most impactful energy investors globally.

Investment Milestones and Portfolio Expansion

In 2024, InnoEnergy secured over €140 million in a private placement, attracting new shareholders including OMV, OMV Petrom, and Poland’s Boryszew S.A.

The organization also launched the Santander InnoEnergy Climate VC Fund, further strengthening its capital base. According to Pitchbook, InnoEnergy ranked as the world’s most active VC in the energy sector in both 2023 and 2024.

Its portfolio added 14 new companies, contributing to a cumulative €34 billion raised by supported ventures. In total, InnoEnergy has backed over 540 companies, with four reaching unicorn status and 58 classified as “ponies” with valuations between €10 million and €99 million.

Impact KPIs: Measurable Progress on All Fronts

The report highlights InnoEnergy’s commitment to achieving a measurable impact. As of the end of 2024, the companies in its portfolio had created 47,760 direct and indirect jobs, generated €943 million in revenue and enabled €13.5 billion in energy cost savings.

The investor not only provided 2.9 million people in developing countries with access to energy but also saved 2.3 gigatonnes of carbon dioxide equivalent, compared to removing 534 million internal combustion engine cars from the road for a year.

Notably, 80 nationalities are represented across portfolio companies, with an average of 5.6 nationalities per team, reflecting the ecosystem’s global orientation.

Innovation Ecosystem

InnoEnergy’s innovation framework is centered on four pillars: people, start-ups, industrial value chains and a 1,400-member ecosystem comprising corporates, investors and policy players.

Key initiatives in 2023–2024 included:

  • Skills Institute: Upskilled over 125,000 workers, with new academies in the battery and solar industries aiming to train 100,000 more.
  • Start-up support: Over 324 new products launched; companies saw an average time-to-market of 16 months and an 89.4 percent survival rate.
  • Strategic value chains: InnoEnergy led major EU-backed alliances in battery production, green hydrogen and solar photovoltaics, forecasting over €640 billion in annual market value by 2025 and the creation of 2.4 million new jobs.

Industrialization and Global Impact

The report highlights flagship projects, such as Mecaware, an eightfold value growth battery recycling company, and Basquevolt, a pioneer in solid-state batteries.

Meanwhile, its consortium FertigHy is building Europe’s first large-scale, fossil-free fertilizer plant, targeting an 80–90 percent reduction in CO₂ emissions and reinforcing food sovereignty.

InnoEnergy’s involvement extends from lab-scale innovation to full industrial deployment, often acting as a co-founder in ventures and accelerating their route to market through its deep industrial ties and value-added services.

Its combination of capital, talent development, industrial strategy and ecosystem coordination sets a compelling blueprint as nations compete in the global green race.

“We’re not just enabling alternatives—we’re building the new default,” said Elena Bou, co-founder and innovation director. “The mission remains the same. But the ambition is now global.”