Energy Impact Partners (EIP) – the sustainability strategic investment firm, announced the launch of a €390 million ($389.75 million) European Fund, targeting investments into mission-driven companies advancing the net zero carbon economy.
The initiative is the first global expansion move for EIP and hopes to introduce European companies to the US market.
Relevant: Are Green Hydrogen Investments The Best Bet In The Future Of Energy?
“The energy transition is the most promising investment opportunity of our generation with a global estimated $9 trillion to be spent annually. A lot of this money will be spent on new climate technologies,” said Matthias Dill, CEO and Co-Managing Partner, EIP Europe.
The fund has received backing from institutional investors and partners like Microsoft’s Climate Innovation Fund, Shell Ventures, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), AGL Energy, Chubu, DNV, Électricité de France (EDF) Group through its corporate venture capital arm EDF Pulse Ventures, EWE AG, and Fortum.
EIP will aim to invest across Europe, targeting mission-driven companies with established products, markets, and customers across the full spectrum of the energy transition. All high impact European tech companies that contribute to safer, more flexible and cleaner energy sources are welcomed to partner with Energy Impact Partners.
The European Fund wants to support the growth and success of European ventures with a combination of capital and commercial backing thanks to EIP’s powerful coalition of industrial firms.
The investment firm has already participated in the financing of eleven companies in Europe like Zolar, Grover, EV.energy, Instagrid, Greenly and ESG Book.
Relevant: US Energy Department Selects 10 Carbon Capture Projects To Receive $10M
“Europe is leading in the energy transition and is a key market on the road to net zero where we are seeing thousands of investable opportunities. We are thrilled to now be able to partner with brilliant European entrepreneurs to help accelerate the innovations tackling climate change,” said Hans Kobler, founder & CEO of Energy Impact Partners.
EIP manages over $2.5 billion in assets and invests globally across venture, growth, credit, and infrastructure. It has a team of over 70 employees based in its offices in New York, San Francisco, Palm Beach, London, Washington D.C., Cologne, and Oslo. As it has an established presence in the US, so it could support companies to expand in the US market.