ING invests in EIT InnoEnergy

ING has acquired a stake in EIT InnoEnergy, an EU-backed climate and renewable energy tech investor.

Supported by the European Institute of Innovation & Technology, EIT InnoEnergy boastsd a portfolio of 300 companies that are on track to generate €72.8 billion in revenue and save 1.1G tons of CO2e annually by 2030.

ING joins 24 other companies as an EIT InnoEnergy shareholder, including the likes of Volkswagen, TotalEnergies, Naturgy, and EDF.

Gido van Graas, global head of new energy technologies at ING says: “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.”