How InnoEnergy Aims to Save US$15bn in Energy Costs
In response to climate action urgency deepening, InnoEnergy has released its Impact report, offering insights on how Europe can reach net zero.
The report offers a case for how clean energy ambitions are being realised through ecosystem-led innovation.
InnoEnergy’s evolution
InnoEnergy, backed by the European Commission, has become one of the continent’s most active clean tech investors, a driving force behind industrial decarbonisation.
In just 14 years, InnoEnergy has supported more than 540 clean tech startups, generated €34bn (US$38.8bn) in investment and avoided 2.3 gigatonnes of CO₂ emissions by 2030 across its portfolio.
From electric mobility and energy storage to circular economy solutions, its mission is clear: accelerate the net zero transition by scaling impactful, commercially viable technologies.
“InnoEnergy’s startups, large companies, politicians and the entire ecosystem must work together,” says Gwenaelle Avice Huet, Executive Vice President at Schneider Electric, a partner of InnoEnergy.
“Most importantly, we need collaboration. Schneider alone cannot make it happen.”
One of the report’s standout features is the role of industrial value chains, specifically in batteries, solar photovoltaics and green hydrogen.
InnoEnergy leads the European Battery Alliance (EBA), which supports more than 800 stakeholders.
Siemens Financial Services is among those invested.
“Transforming towards a sustainable world requires both innovative technology solutions and the necessary financing,” comments Steffen Grosse, CEO Equity Finance at Siemens Financial Services.
“As a strategic investor and technology partner, we at Siemens Financial Services understand that the next phase of the energy transition can only succeed through connecting the right people, financial resources and innovative technology.”
Environmental innovation
In agriculture, the report showcases FertigHy, Europe’s first fossil-free fertiliser plant.
This initiative, backed by Siemens France, aims to cut emissions by up to 90% using green hydrogen, proving how clean tech is transforming even the most CO₂ intensive industries.
Financial institutions are also playing a central role.
“As a shareholder of InnoEnergy, we recognise the value and importance that the ecosystem of InnoEnergy brings to our shared vision of the future,” says Herbert Fikkers, Director at ING Sustainable Investments.
“ING's focus on sustainability, innovation, and financial expertise aligns with InnoEnergy's mission to accelerate the transition to sustainable energy.”
InnoEnergy’s sustainability impact is far-reaching.
Its portfolio companies have saved €13.5bn (US$15.4bn) in energy costs and given 2.9 million people access to energy in developing regions.
They have avoided the equivalent of driving 534 million internal combustion engine cars for a year or consuming 163 million barrels of oil.
By 2030, InnoEnergy-backed companies are forecasted to generate 277TWh of clean energy and train more than 100,000 workers across solar and battery sectors.
“The energy transition is more than an environmental imperative – it’s the basis for a profound industrial, economic and societal transformation that requires bold action to ensure clean tech innovation is scaled at speed,” explains Elena Bou, Co-Founder and Innovation Director of InnoEnergy.
These figures demonstrate the tangible value of connecting climate innovation with systemic scale.
“For us, impact is not just a goal, it’s built into everything we do… With a maturing pipeline of clean industrial newcomers ready to scale and serve the domestic demand, we are pushing ahead and delivering impact,” says Diego Pavia, CEO of InnoEnergy.
Collaboration for the climate
InnoEnergy’s holistic approach goes beyond capital.
Its Skills Institute has already upskilled 125,000 workers and aims to train 100,000 more in solar energy alone.
With collaboration across 1,400 ecosystem partners including policymakers, investors and academia, its strategy de-risks innovation and accelerates market adoption.
Some corporate investors/partners include:
- Siemens Financial Services
- Schneider Electric
- ING Sustainable Investments
- Santander InnoEnergy Climate VC Fund
- OMV, OMV Petrom
- ACB Participaties
- Boryszew S.A.
- Vopak
- Heineken
As clean tech becomes the default choice for industries worldwide, InnoEnergy’s model underscores that systemic change doesn’t rely on technology alone.
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