ING has acquired a stake in EIT InnoEnergy, a climate and renewable energy tech investor backed by the EU. Along with ING, 24 other companies are shareholders in EIT InnoEnergy, including Volkswagen, TotalEnergies, Naturgy, and EDF. EIT InnoEnergy’s portfolio has 300 companies which are slated to generate €72.8 billion in revenue and save 1.1G tonnes of CO2e per year by 2030.
Gido van Graas, global head of new energy technologies at ING: “Sustainability, energy innovations and the energy transition are focus areas at ING, as demonstrated by our commitment to the Net-Zero Banking Alliance and how we’re aligning our portfolio with net-zero climate goals, for example. Partnering with EIT InnoEnergy is a major opportunity to further support the energy transition through new and clean energies like battery storage, green hydrogen and solar PV.”