Release date: 1 April 2019
Promoter – Financial IntermediaryBREAKTHROUGH ENERGY VENTURES LLC,ACCEPTABLE CORPORATE(S)
The project consists of an equity fund that will invest in economically-viable breakthrough clean energy technology companies along the innovation chain in Europe.
Equity investment in energy innovation is essential in order for innovative technologies which are capital intensive in their early stages of development, to reach commercial demonstration and eventually achieve critical mass. The Fund aims to provide such risk-tolerant and patient capital. The Fund's operations will focus on breakthrough clean energy technologies with significant greenhouse gas emission reduction potential.
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 100 million
The Bank will ensure that the Fund's operational guidelines comply with the social and environmental standards of the EIB.
The Fund has been assessed by EIB as investing only in private companies not being subject to EU rules on public procurement or concessions. However, if after the appraisal, the EIB were to conclude that the Fund invests also in projects subject to EU public procurement legislation, then the Bank would require the fund manager to ensure that contracts for the implementation of the projects financed by the Fund will be done in accordance with the Bank's Guide to Procurement.
Signed - 23/05/2019
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).