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InnoEnergy seeks fresh batch of sustainable energy innovations

The funding round will aim to help commercialise sustainable energy products. Image: Jaguar LandRover.

The funding round will aim to help commercialise sustainable energy products. Image: Jaguar LandRover.

Clean tech incubator InnoEnergy is seeking applications from sustainable energy innovators and entrepreneurs for its latest investment round.

The firm runs an annual investment round in conjunction with the European Institute of Innovation and Technology which has been established to support clean tech innovations through to commercialisation.

This year’s investment round closes on 7 April and is seeking applications from technology providers which have passed the proof of concept stage and are expected to go to market within the next five years.

Successful applicants will be offered funding dependent on their status as well as joining InnoEnergy’s network of European partners in industry, research institutes and universities.

The funding round is targeted at technologies in the fields of clean coal and gas, energy storage, renewables, energy efficiency, smart grids and smart and efficient cities.

To date InnoEnergy has invested more than €157 million in a total of 83 projects, which have gone on to secure €1.3 billion in private investment. Projects supported so far currently have sales forecasts totalling €3 billion.

Diego Pavia, chief executive at InnoEnergy, said that it was imperative that the sustainable energy sector sees new products, solutions and services, but that commercialising them was fraught with issues.

“A clean energy idea from a light bulb moment to a powering-the-light bulb moment is an exciting process, but transforming a concept into a successful, commercial product can be a long and complex journey. Too often, promising ideas falter because they’ve got funding, but no broader support,” he said.