InnoEnergy opens year-round fund for innovation

Illustration/Minesto's tidal kite that received InnoEnergy funding earlier (Image: Minesto)

InnoEnergy has made its Investment Round available for funding applications year-round to offer flexibility to businesses and shorten their journey from lab to launch.

The Investment Round is open to proven European technology concepts that will help to change the future of the energy industry from eight technology areas, including that of renewable energy.

Among other topics under the renewable energy theme, InnoEnergy is offering support for projects that increase performance, lifespan and scalability of wave power, and improve the production, penetration and profitability of renewable energy.

The initiative helps address challenges faced when commercializing technology by offering funding and connecting successful applicants with InnoEnergy’s network of industry experts.

Diego Pavia, CEO of InnoEnergy, said: “Moving to an all-year model will empower innovators to access the Investment Round’s unique mix of technical and market expertise, financial support and commercializing partners when the time is right for their business.

“Working with innovators – SMEs, corporations and research bodies – we act as a commercial co-pilot. Our mission is to move as quickly as possible from application to first finance to fast-track successful innovations. The future of clean energy relies on more flexible and adaptable funding. That’s what the Investment Round now delivers.”

InnoEnergy, the innovation engine for sustainable energy across Europe, noted the Investment Round is open for applications, with the fist cut-off for 2017 funding set for October 23, 2017.

During 2017, the Investment Round already supported seven new projects in the fields of renewables, smart and efficient buildings and energy efficiency – linked to €13.5 million in funding, according to InnoEnergy.

Since the launch of its Investment Round in 2011, InnoEnergy said it had supported more than 90 projects with €170.5 million funding, resulting in €3 billion of forecasted sales.

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