An American platform is setting up a new head office in Germany, with a three-digit million-dollar amount in funding planned for start-ups across Europe that are focused on green solutions in the energy sector.
The platform, Energy Impact Partners (EIP), has partnered with the Finnish Fortum Group and the German energy company EWE with a plan to finance between 15 and 20 green tech startups from Germany and Europe over the next five years.
“There are a lot of interesting energy start-ups in Europe,” says Matthias Dill, Head of Europe at EIP. “We looked at over 1,000 last year, and 20 percent of them are even from Germany.”
And EIP isn’t the only one who’s become interested in supporting green startups: Microsoft founder Bill Gates recently announced his intention to launch his Breakthrough Energy Ventures fund in Europe alongside the European Investment Bank, with a plan to invest a hundred million euros in green technologies.