EIF invests €40 million into the European climate tech growth fund Blume Equity to support disruptive businesses
Summary
The investment is part of the EIF’s mission to support high-growth and innovative Small and Medium Enterprises (SME) across Europe, as well as to ensure at least 25% of its activity is in climate and environment-related projects by 2024. While there is a robust early-stage venture ecosystem, there is a well-documented funding gap at the scale-up stage for climate tech companies, which Blume seeks to address with its strategy. 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 Scope 1, 2 and 3 emissions for large enterprise 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. “The green transition must be accelerated to meet our current climate and environmental challenges,” commented EIF Chief Executive Marjut Falkstedt. With the backing of the InvestEU programme and the Dutch Future Fund, we are very happy to invest in the female-led Blume Equity Fund to support disruptive businesses with a positive impact on people and planet.” Commissioner for the Economy, Paolo Gentiloni, added: “The InvestEU programme supports investments across Europe, focusing on our common priorities, including the transition to a low-carbon and more sustainable economy.