Green Generation Fund “launches” green Startups
Green Generation EU is set to invest 100 million euros, of which 25 come from the EIF, to viable Startups
The European Investment Fund (EIF), with a guarantee by the EU budget through the new InvestEU programme, has contributed 25 million euros to the EU budget raised by the new investment fund Green Generation EU, which has been set up by women.
KfW Capital provided 10 million euros to the project. The Green Generation Fund invests exclusively in sustainable Startups that are making significant progress in reducing CO2 emissions, the circular economy, climate and resource protection, health promotion and biodiversity.
The aim is to strengthen the new food technology and green technology industries and to contribute to the reduction of CO2 in the agriculture and food sectors. For example, funding is provided for the extraction of plant proteins and for innovations in fermentation, as well as cell culture.
In addition, solutions to reduce the use of preservatives in the food industry, as well as for more sustainable packaging and supply chains, carbon sequestration solutions and green technology software are being considered. The EIF’s investment is one of the first in Germany under the new InvestEU programme.
The InvestEU Programme provides the EU with crucial long-term financing, leveraging significant private and public resources to support sustainable recovery. It also contributes to mobilising private investment for EU political priorities, such as the European Green Deal and the digital transition.
“Ensuring the ‘green’ transition will require sustained investment. Here the contribution of InvestEU can be crucial. I am particularly pleased that the new InvestEU programme supports this EIF investment to support start-ups specialising in ‘green’ technologies.
This financing agreement will give them access to the funding they need to invest in innovation, expand and create jobs. I hope many more innovators will follow this example.”, said the Commissioner for Economy, Paolo Gentiloni.