ING has recently acquired a stake in EIT InnoEnergy, a prominent investor in climate and renewable energy technologies supported by the European Institute of Innovation & Technology.
EIT InnoEnergy manages a diverse portfolio of 300 companies, which are projected to generate €72.8 billion in revenue and contribute to the reduction of 1.1 gigatons of CO2 emissions annually by 2030. With this investment, ING joins an esteemed group of 24 other shareholders in EIT InnoEnergy, including major corporations like Volkswagen, TotalEnergies, Naturgy, and EDF.
Gido van Graas, ING’s global head of new energy technologies, emphasized the bank’s commitment to sustainability and energy innovation. He stated, “At ING, we are deeply focused on sustainability, energy innovations, and the transition to a greener energy future. Our alignment with the Net-Zero Banking Alliance reflects our dedication to meeting climate goals. Partnering with EIT InnoEnergy presents a significant opportunity to advance the energy transition through innovative solutions such as battery storage, green hydrogen, and solar photovoltaic technologies.”