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Wholesale Banking

ING invests in energy transition with EIT InnoEnergy

ING has become a shareholder in EIT InnoEnergy, the European innovation engine for sustainable energy that supports start-ups, commercially attractive technologies and provides education. EIT InnoEnergy is supported by the European Institute of Innovation & Technology (EIT), a body of the European Union.

As a bank, we have a key role in financing the real economy, and as the economy transitions to a low carbon future, we are committed to financing that transition. Motivated not only by the urgent threat of climate change, but also by the conviction that sustainability is a core value-driver. 

Supporting the energy transition and the transformation of ING’s clients and the industry in that perspective are key drivers for investing in EIT InnoEnergy. ING will be the first financial institution that becomes a shareholder in EIT InnoEnergy, following other companies actively involved in the energy transition, such as Volkswagen, TotalEnergies, Naturgy, and EDF.

Gido van Graas, global head New Energy Technologies at ING said: “I am extremely proud that ING and Sustainable Investments became part of EIT InnoEnergy’s ecosystem,  supporting the decarbonisation of society. Sustainability, energy innovations and the energy transition are focus areas at ING, as demonstrated by our commitment to the Net-Zero Banking Alliance and how we’re aligning our portfolio with net-zero climate goals, for example. Partnering with EIT InnoEnergy is a major opportunity to further support the energy transition through new and clean energies like battery storage, green hydrogen and solar PV.”

Mark Weustink, Head of Sustainable Investments at ING said: “We are pleased to have become a shareholder of EIT InnoEnergy. This investment fits seamlessly within the purpose of Sustainable Investments to support the energy transition through investing, gaining knowledge and collaborating. That is why we are excited to become part of Europe’s leading ecosystem of innovative start-ups & scale-ups, industry partners and research & academic institutions.  This partnership will accelerate the impact we can have in supporting our clients in their transition to a greener future.”

Learn more about our Sustainable Investment capabilities or our views on sustainable transformation.