As we walked through the doors to the conference hall this morning, you already had over 2,900 meetings booked with each other for the coming two days. These meetings connect innovators, customers, investors, policymakers, and corporates. This is a strength of the InnoEnergy ecosystem.

We are at a key moment in time. Since the European Green Deal was announced, Europe has created a set of regulations generating tremendous demand for green products through the Fit for 55 and RePowerEU packages, which include targets such as the combustion engine ban by 2035.

 

For the past three decades, the supply side was driven by cost alone, meaning products such as solar PV modules were manufactured outside the EU. For the first time, Europe has started to address this through its Net-Zero Industry Act (NZIA), to secure its autonomy and resilience as an economy. By 2030, 40% of the demand must be supplied by European-made products. It will create around five million new jobs and €500bn annually. We can capture this market.

The Green Deal is here to stay, and Europe is pushing ahead with its decarbonisation agenda for 2050. But alongside decarbonisation must also come competitiveness: ensuring the European economy is resilient and protected.

 

The Draghi report states, “Either we change and do things right, or we will have to compromise between our environment, freedom, and prosperity.” This is tied to the three focus areas of this year’s TBB event. Achieving our goals will be a marathon, with casualties along the way.

InnoEnergy and our ecosystem are proud to be at the core of what Europe is doing and actively delivering on the EU’s climate and energy objectives. The Commission has mandated InnoEnergy to lead industrial value chains such as battery and PV.

 

The additional investments from our new shareholders have enabled some of our portfolio assets to expand their capital rounds. The capital markets are very dry. Closing a round in the past used to take 9-10 months. Today, it takes 14-15 months. We have also welcomed new shareholders in our cap table, including oil and gas companies who have the resource and technological know-how to accelerate the energy transition.

 

Let’s continue to deliver. Let’s leverage this ecosystem we have here today.

Click here: Energy transition, geopolitical resilience, and economic growth: trilemma or opportunity?