Societe Generale and EIT InnoEnergy join forces to accelerate the successful launch of new industrial champions and boost the energy transition

EIT InnoEnergy, the leading innovation engine in sustainable energy, today announced the entry of Societe Generale into its pool of strategic investors: EIT InnoEnergy secures over €140 million in private placement round. InnoEnergy and Societe Generale also signed today a strategic long-term cooperation agreement. 

The aim of this strategic partnership is to help accelerate the development of InnoEnergy’s current portfolio of 200 startups and support its strategy of large industrial actors building such as Verkor, GravitHy, Holosolis or FertigHy. Societe Generale will support them in their growth by providing valuable access to its full range of financing and advisory services and to its own eco-system of clients and investors. 

InnoEnergy currently has a portfolio of 200 companies, three of which are unicorns, on track to generate €110 billion in revenue and save 2.1G tonnes of CO_2e accumulatively by 2030. Collectively, these companies have raised €9.7 billion in investment to date.

Karine Vernier, CEO of EIT InnoEnergy France said: "The objectives of the private placement have been delivered.  New strategic players have joined InnoEnergy's outstanding cap table, several shareholders have reinvested, and altogether we have secured sufficient fresh financial resources to double our on-going impact. The accelerated energy transition in Europe and in the world, and an increased re-industrialization ambition in the western world are unique opportunities for InnoEnergy, its portfolio companies, and our trusted ecosystem partners. We have geared up for the journey ahead. We are in a mission since 2010, and we continue delivering."

Demetrio Salorio, Head of Global Banking and Advisory at Societe Generale said: "Societe Generale is pleased to invest in InnoEnergy and support the development of its eco-system of startups and industrial projects. Financing emerging leaders developing innovative and responsible solutions, such as InnoEnergy, is key for Europe’s reindustrialisation and sustainable growth. This is a strong testimony of Societe Generale’s commitment to sustainable finance."

EIT InnoEnergy operates at the centre of the energy transition and is the leading innovation engine in sustainable energy. It brings the technology, business model innovation and skills required to accelerate the green deal, progress towards Europe’s decarbonisation and re-industrialisation goals, whilst also improving energy security. Ranked as the most active investor in the energy sector in 2022 by Pitchbook, InnoEnergy backs innovations across a range of areas which include energy storage, transport and mobility, renewables, energy efficiency, hard to abate industries, smart grids and sustainable buildings and cities, amongst others. 

Societe Generale, one of Europe’s leading financial services groups and a major player in the economy for over 150 years, is committed to supporting its clients in the energy transition through dedicated financial solutions and is dedicated to contributing to sustainable finance with €300 billion by 2025.