New Research Concludes EU will Miss Climate Goals Unless Cleantech Innovation Is Scaled
23.3.2021 12:37:00 EET | Business Wire | Press release
Newly-published research from Cleantech Group®, the global authority on clean technology innovation, with the support of Breakthrough Energy, found the EU’s venture capital investment into cleantech from 2011-2020 grew by a remarkable 7.5x to more than EUR 5 billion in 2020.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210323005539/en/
EU Cleantech Venture Capital Investment grew by 7.5x between 2011 and 2020 (Cleantech Group)
But research also discovered progress is concentrated on early-stage development and lacks scale-up investment and policy support. The EU attracted 23% of global cleantech seed-stage funding in 2020, but only 7% of global cleantech growth equity funding (compared to 54% for North America). The EU risks missing key climate targets by failing to scale clean technologies and letting promising innovators scale in North America and Asia instead.
Cleantech for Europe is a new initiative launched by Cleantech Group®, with the support of Breakthrough Energy, to help the EU lead the global clean transformation through targeted research and recommendations on EU cleantech investment and policy. The initiative connects EU policy makers to entrepreneurs and investors.
Its first position paper, published today, Making Fit for 55 a green demand shock to scale EU cleantech, analyses the EU cleantech landscape. It advocates for leveraging the EU’s upcoming Fit for 55 regulatory package to create leadership in five key innovation sectors: green hydrogen, green steel, low-carbon construction materials, sustainable aviation and soil carbon. The paper makes the case for a green demand shock that would pull EU innovators to continental scale and maximize climate impact.
“The EU’s climate future is at a crossroads. Deploying mature technologies such as solar and wind can only take us halfway. To lead the race to net zero, and gain a competitive advantage for decades, the EU needs a green demand shock to scale early-stage clean technologies” said Jules Besnainou, Director, Cleantech Group.
“With the forthcoming ‘Fit for 55’ package, the EU will update almost all of its energy and climate legislation, changing the policy framework for a long time to come. With investment cycles averaging 25 years, what happens in 2050 is essentially being decided today. The stakes couldn’t be higher as only a new generation of clean technologies can lead Europe towards climate neutrality. That is why this study sheds light on persistent challenges in the European innovation ecosystem that urgently need to be addressed – from lack of growth equity and weak demand signals for green products to poor exit routes for successful entrepreneurs” said Ann Mettler, Vice President, Europe, Breakthrough Energy.
Link to research: https://www.cleantechforeurope.com/
About Cleantech Group
At Cleantech Group, we provide research, consulting and events to catalyze opportunities for sustainable growth powered by innovation. We bring clients access to the trends, companies and people shaping the future and the customized advice and support businesses need to engage external innovation. Industries are undergoing definitive transitions toward a more digitized, de-carbonized and resource-efficient industrial future. At every stage from initial strategy to final deals, our services bring corporate change makers, investors, governments and stakeholders from across the ecosystem, the support they need to thrive in this fast-arriving and uncertain future.
The company was established in 2002 and is headquartered in San Francisco with people based in London, Paris and Boston.
About Breakthrough Energy
Founded by Bill Gates, Breakthrough Energy is dedicated to helping humanity avoid a climate disaster. Through investment vehicles, philanthropic programs, policy advocacy, and other activities, we’re committed to scaling the technologies we need to reach net-zero emissions by 2050. For more information about Breakthrough Energy visit breakthroughenergy.org.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210323005539/en/
Contact information
Jules Besnainou
Director, Cleantech Group
hello@cleantechforeurope.com
+33 6 23 12 00 08
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Venture Global Announces Closing of $2.25 Billion of Senior Secured Notes12.6.2026 00:00:00 EEST | Press release
Venture Global LNG, Inc. (“Venture Global”) announced today that its wholly-owned subsidiary, Venture Global LNG, Inc. (the “Issuer”) has closed its offering of $1.125 billion aggregate principal amount of its 6.375% senior secured notes due 2034 (the “2034 Notes”) and $1.125 billion aggregate principal amount of its 6.625% senior secured notes due 2036 (the “2036 Notes” and, together with the 2034 Notes, the “Notes”). The Issuer used the gross proceeds from the offering to redeem all of the Issuer’s outstanding 8.125% senior secured notes due 2028 (the “Existing 2028 Notes”) and used cash on hand to pay the redemption premium and related fees and expenses for the offering and the redemption. The 2034 Notes will mature on December 15, 2034, and the 2036 Notes will mature on June 15, 2036. The Notes were issued at par. The Notes will initially not be guaranteed by any of the Issuer’s subsidiaries. In the future, certain of the Issuer’s subsidiaries that incur or guarantee certain amount
Venture Global and Atlantic-SEE Announce Expansion of Long-Term LNG Sales and Purchase Agreement with Greece11.6.2026 23:30:00 EEST | Press release
Today, Venture Global, Inc. (NYSE: VG) and ATLANTIC – SEE LNG TRADE S.A. of Greece announced an expansion of their existing Sales and Purchase Agreement (SPA) for the purchase of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030. Under the deal, Atlantic-SEE is doubling their existing contract with Venture Global from a minimum of 0.5 million tonnes per annum (MTPA) to 1.0 million tonnes per annum (MTPA). Atlantic-SEE LNG is a newly formed joint venture announced in November at the 6th Partnership for Transatlantic Energy Cooperation (PTEC) conference hosted in Athens, Greece between Greek companies AKTOR Group and DEPA Commercial. The announcement of this expanded supply agreement follows Venture Global’s previously announced investment in regasification capacity at the Alexandroupolis LNG import terminal in Greece, which currently accounts for approximately 25% of the terminal’s total capacity. The Alexandroupolis LNG FSRU receiving terminal and S
Merrithew ® Expands Global Mindful Movement Leadership with Acquisition of the GYROTONIC ® Organization11.6.2026 18:30:00 EEST | Press release
Merrithew®, a global leader in mindful movement education and equipment and creator of internationally recognized programs including STOTT PILATES®, ZEN•GA®, Halo® Training and Total Barre®, today announced the acquisition of the GYROTONIC® organization, creator of the globally respected GYROTONIC® and GYROKINESIS® methods. Founded by Juliu Horvath, the GYROTONIC® and GYROKINESIS® methods are internationally recognized for their distinctive approach to movement, combining fluidity, strength, mobility, coordination, and rehabilitation through specialized equipment and movement sequences. Practiced in studios and wellness centers worldwide, the methods have cultivated a deeply loyal global community of instructors, trainers, therapists, and movement professionals. The acquisition marks a significant milestone in Merrithew International Inc.’s growth strategy and reflects Merrithew’s commitment to growing the rapidly expanding global mindful movement category. The addition of the GYROTONI
GigaDevice Expands Optical Communication Portfolio with New GD32E512 and GD32E252 Series MCUs for Optical Modules11.6.2026 17:00:00 EEST | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, has introduced the new GD32E512 and GD32E252 series MCUs specifically designed for optical module applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611850679/en/ Empowering Optical Interconnect Innovation, GigaDevice Unveils Dedicated MCUs for Optical Modules. As a leading supplier of MCUs for optical module applications, GigaDevice has maintained a strong focus on the optical communication market, continuously aligning its product development with evolving industry requirements and next-generation optical interconnect technologies. Leveraging years of expertise in optical module control solutions, GigaDevice has established a strong position in the market through continuous innovation and close collaboration with industry partners. To further support the advancement of high-sp
Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water11.6.2026 16:47:00 EEST | Press release
In an increasingly resource-constrained world, water has become critical to both economic growth and national security, driving demand for global leadership in sustainability, innovation, and water solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611388456/en/ Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water (Graphic: AETOSWire) The Saudi Water Authority has announced the return of the Innovation Driven Water Sustainability Conference (IDWS), taking place from 7 to 9 December 2026 at The Ritz-Carlton, Jeddah, as the Kingdom consolidates its position at the center of the global water conversation. As home to one of the world’s most advanced and rapidly evolving water management ecosystems, Saudi Arabia currently operates more than 500 water production facilities across the Kingdom with total water production capacity exceeding 16.2 million cubic meters per day. The
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom