The European Investment Fund backed by InvestEU invest €40 million into a European climate tech growth fund

The European Investment Fund (EIF) is investing €40 million, with support from the InvestEU programme, into the European climate tech growth equity fund ‘Blume Equity’. This is one of the largest investments EIF has made into a first-time growth-stage fund.

Blume Equity invests in companies supporting the transition to a low carbon economy and a more sustainable environment. Blume’s recent investments include ‘Sensorfact’, a provider of Internet of Things (IoT) data solutions to enable industrial SMEs to be more resource efficient; ‘Normative’, a carbon accounting platform focusing on emissions for large business clients; ‘Matsmart-Motatos’, a company tackling food waste from fast-moving consumer goods; and ‘Aerones’, a leader in robotic inspection and maintenance services to the wind turbine industry.

Commissioner for the Economy, Paolo Gentiloni, said: “The InvestEU programme supports investments across Europe, focusing on our common priorities, including the transition to a low-carbon and more sustainable economy. I am delighted that, thanks to this new agreement, additional investment will be channeled towards high-growth and cutting-edge SMEs engaged in climate and environmental initiatives.  This is a great example of how InvestEU helps make Europe greener, more digital and more innovative, thus contributing to sustainable growth and the creation of quality jobs.”

The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities. As part of the programme, the InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee and thus mobilising at least €372 billion in additional investment.