KGAL has said it will invest in selected hydrogen projects from the EIT InnoEnergy portfolio that have already successfully progressed from early stages. Supported by the European Institute of Innovation and Technology (EIT), EIT InnoEnergy holds a portfolio of around 180 companies.
Read more: Spotlight on EIT InnoEnergy
Since its inception, EIT InnoEnergy says it has supported more than 500 companies, which will generate around €73bn ($77bn) in sales by 2030, while saving approximately 1.1 gigatonnes of carbon dioxide equivalent.
H2 View understands KGAL will contribute fresh capital to the projects, and work with EIT InnoEnergy to develop the projects to the point of commercial operation.
“An important factor for investment success is access to promising projects, which is why this cooperation is so valuable for us,” explained Michael Ebner, Managing Director of Sustainable Infrastructure at KGAL Investment.
He added, “With its more than 1,200 partners from industry, politics, finance, research and education, EIT InnoEnergy maintains one of the largest and most relevant ‘ecosystems’ for climate technologies worldwide. We are also impressed by the high success rate of investments from our partner’s portfolio.”
In 2020, EIT InnoEnergy and Bill Gates-founded Breakthrough Energy launched the European Green Hydrogen Acceleration Centre (EGHAC) to accelerate green hydrogen production at gigawatt scale for large-scale industrial projects across the continent.
Read more: European Green Hydrogen Acceleration Centre launched today
Christian Müller, Member of the Board at EIT InnoEnergy, and CEO for the DACH Region, said, “KGAL has many years of project experience and has demonstrated time and again that it can bring developments to completion as planned.
“Our strengths in bringing breakthrough climate technologies to the market perfectly complement KGAL’s strengths in the later stages of the life cycle.”
A Successful Ecosystem for Green Hydrogen – Iceland
It is becoming ever clearer that the entire green hydrogen ecosystem requires alignment. Hydrogen’s potential, performance, and safety are proven. Green hydrogen is widely accepted as a core pathway to Net Zero, yet the key levers in the transition are not yet in-sync.
For these reasons, H2 View is launching An Ecosystem for Green Hydrogen, a two and a half day summit in Reykjavík, Iceland on February 28 to March 2, 2023, devoted to thought leadership, insights, and actionable takeaways for the green hydrogen ecosystem.
In a world full of distractions and technical overload, we need inspiring places to refresh our minds and bodies. The power of Iceland lies in its nature, culture, and energy. These elements serve as the perfect backdrop for a memorable and effective event at the world renowned Harpa Centre.
The summit promises to tackle all sides of the energy ecosystem, from wind and solar power requirements, through to additionality, water sustainability, electrolyser technologies, and the investment and policy climate. The 2.5 day event is split over six sessions, delegates will hear from speakers representing all strands of the hydrogen value chain in a bid to unravel key issues in the industry, and where it can make some headway.
You can find more information at h2-viewevents.com.