EIP has €390 million to deploy in European investments to accelerate the growth of innovative technologies which have the potential to drive the transition towards net zero. The Fund is structured to enable EIP to locally partner with European entrepreneurs and support their growth with a combination of capital and commercial support through EIP’s powerful coalition of industrial firms.

Lucy Craig, Director of Growth, Innovation and Digital, Energy Systems at DNV, said: “This is an important strategic partnership for DNV alongside other organizations that are committed to accelerating the energy transition. DNV will provide start-ups with insight into this highly dynamic field and will collaborate with our partners in EIP in investigating new topics within the energy sector.”

The arrangement also provides scope for DNV to expand its American operation through EIP’s established presence in North America.

Contributions to the Fund are drawn from a broad set of institutional investors, impact investors and corporates in a range of industries, including energy, utilities, technology and infrastructure and transport.

“We are very happy to have DNV as a member of EIP’s coalition. DNV and EIP are very aligned in our mission to advance clean technologies. It is great to build on DNV’s strong brand and expertise”, said Matthias Dill, CEO and Managing Partner of EIP Europe.

Kaare Helle, Ventures Director at DNV, added: “DNV is committed to a strategy for growth in Energy Systems, as well as across the sector in other facets where DNV is active, including Maritime, Business Assurance, Cyber Security and ESG. Across the business, we are helping accelerate the innovations tackling climate change.”