{"id":6480,"date":"2020-08-12T11:25:23","date_gmt":"2020-08-12T10:25:23","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=6480"},"modified":"2021-03-30T14:51:26","modified_gmt":"2021-03-30T13:51:26","slug":"eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19\/6480\/","title":{"rendered":"EIT InnoEnergy offers \u20ac7.3m to energy innovators during COVID-19"},"content":{"rendered":"<h2>EIT InnoEnergy will mobilise \u20ac7.3m in funding to support energy innovators during the COVID-19 pandemic, allowing start-ups to maintain existing operations and capitalise on emerging opportunities.<\/h2>\n<p><a href=\"https:\/\/www.innoenergy.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">EIT InnoEnergy<\/a> will distribute \u20ac7.3m in funding from the European Institute of Innovation &amp; Technology (EIT) to a maximum of 24 start-ups and energy innovators. Diego Pavia, CEO of EIT InnoEnergy, said: \u201cThe impact of COVID-19 on energy innovation cannot be overstated; without support, much of the past decade\u2019s progress on the energy transition will be lost.<\/p>\n<p>\u201cSpeaking to our portfolio, the message is clear; they need a cash injection now to ensure their survival. COVID-19 has put on hold the expected sales, capital increases or previous commercial agreements, they need our support now more than ever.<\/p>\n<p>\u201cWith the EIT, we have worked tirelessly to put the support in place that will save our start-ups. This funding not only helps to secure jobs and mitigate the risk to existing investments, but ultimately forms a cornerstone to <a href=\"https:\/\/www.innovationnewsnetwork.com\/scientists-use-ai-to-model-the-atomic-structure-of-covid-19\/6399\/\">Europe\u2019s sustainable recovery<\/a> too.\u201d<\/p>\n<h3>EIT\u2019s selection process<\/h3>\n<p>To select potential candidates, EIT InnoEnergy interviewed all 250 of its current ventures to identify those requiring urgent financial support. EIT InnoEnergy also conducted more than 2,000 phone and video interviews to evaluate the impact of COVID-19 on a range of factors including cashflow, supply chain and customer and investor retention.<\/p>\n<p>Eligible candidates have since been invited to present a revised business case to an assessment committee. Start-ups that have already been approved for funding include AMP, Naoden, Nabrawind, and Voltstorage.<\/p>\n<p>EIT InnoEnergy has provided investments and added value services to over 380 sustainable energy related start-ups and over 30 of those work in the field of energy storage, including flagship organisations like Northvolt, a vertically integrated sustainable battery manufacturer. In total, EIT InnoEnergy has invested \u20ac560m in sustainable energy innovations and is supported by the EIT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EIT InnoEnergy will mobilise \u20ac7.3m in funding to support energy innovators during the COVID-19 pandemic, allowing start-ups to maintain existing operations and capitalise on emerging opportunities. EIT InnoEnergy will distribute \u20ac7.3m in funding from the European Institute of Innovation &amp; Technology (EIT) to a maximum of 24 start-ups and energy innovators. Diego Pavia, CEO of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[766,24429],"tags":[649,16871,24161],"acf":[],"yoast_head":"\n<title>EIT InnoEnergy offers \u20ac7.3m to energy innovators during COVID-19<\/title>\n<meta name=\"description\" content=\"EIT InnoEnergy will mobilise \u20ac7.3m in funding to support energy innovators during the COVID-19 pandemic, allowing start-ups to maintain existing operations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.innovationnewsnetwork.com\/eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19\/6480\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EIT InnoEnergy offers \u20ac7.3m to energy innovators during COVID-19\" \/>\n<meta property=\"og:description\" content=\"EIT InnoEnergy will mobilise \u20ac7.3m in funding to support energy innovators during the COVID-19 pandemic, allowing start-ups to maintain existing operations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.innovationnewsnetwork.com\/eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19\/6480\/\" \/>\n<meta property=\"og:site_name\" content=\"Innovation News Network\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/InnoNewsNetwork\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-12T10:25:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-30T13:51:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.innovationnewsnetwork.com\/wp-content\/uploads\/2020\/08\/energy-innovators.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Caitlin Magee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@InnoNewsNetwork\" \/>\n<meta name=\"twitter:site\" content=\"@InnoNewsNetwork\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Caitlin Magee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.innovationnewsnetwork.com\/eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19\/6480\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.innovationnewsnetwork.com\/eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19\/6480\/\"},\"author\":{\"name\":\"Caitlin Magee\",\"@id\":\"https:\/\/www.innovationnewsnetwork.com\/#\/schema\/person\/5186ad57c79ad5162638977775a065d2\"},\"headline\":\"EIT InnoEnergy offers \u20ac7.3m to energy innovators during COVID-19\",\"datePublished\":\"2020-08-12T10:25:23+00:00\",\"dateModified\":\"2021-03-30T13:51:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.innovationnewsnetwork.com\/eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19\/6480\/\"},\"wordCount\":313,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.innovationnewsnetwork.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.innovationnewsnetwork.com\/eit-innoenergy-offers-e7-3m-to-energy-innovators-during-covid-19\/6480\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.innovationnewsnetwork.com\/wp-content\/uploads\/2020\/08\/energy-innovators.jpg\",\"keywords\":[\"Batteries\",\"COVID-19\",\"Energy Storage\"],\"articleSection\":[\"Research &amp; 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