EIT InnoEnergy, the leading innovation engine in sustainable energy, welcomes Boryszew Group S.A., a global player in the automotive and metals industries, as its newest shareholder. The announcement made at EIT InnoEnergy's annual event, The Business Booster, marks the successful completion of EIT InnoEnergy's private placement and top up round.

Barcelona, 16 October 2024: EIT InnoEnergy, the leading innovation engine in sustainable energy, welcomes Boryszew Group S.A., a global player in the automotive and metals industries, as its newest shareholder. The announcement made at EIT InnoEnergy's annual event, The Business Booster, marks the successful completion of EIT InnoEnergy's private placement and top up round.

This partnership aims to contribute to the European Union's ambition to supply at least 40% of demand for clean technology domestically through the Net Zero Industry Act. With its strong ties in the automotive and metals sectors, Boryszew Group S.A. will further strengthen EIT InnoEnergy's access to sectors which are key to Europe's clean reindustrialisation. Equally, EIT InnoEnergy will help facilitate a new pathway for Boryszew's own green evolution, building on Boryszew's recent investment in Repono, a pan-European company launched by EIT InnoEnergy, which owns and operates large energy storage systems.

Wojciech Kowalczyk, President of Boryszew Group S.A., said: "As one of the industrial leaders in Poland we are aiming to decarbonise our production. Therefore, we have adopted our Sustainability Horizon 2030 Strategy. The investment in EIT InnoEnergy is part of this green strategy. EIT InnoEnergy initiates and builds the largest low-emission industrial projects in Europe, which are important players in the new wave of European industry, providing zero-emission products to the European market. With low-emission technologies being a key element of our group's transformation, we aim to leverage synergies between our industrial group and the investments led by EIT InnoEnergy in the areas of energy technologies, circular economy, and automotive. This aligns with our growth strategy and will contribute to the value of Boryszew Group S.A."

Diego Pavia, CEO of EIT InnoEnergy said: "The European industry is at a pivotal moment. Traditional business needs to transform to climate-neutrality, and at the same time, new sustainable business models must demonstrate their ability to scale rapidly. The addition of Boryszew Group S.A. to our cap table reinforces our belief that Europe's reindustrialisation requires the combined efforts of both established industry players and emerging green leaders."

Proceeds from EIT InnoEnergy's private placement round will be used for capturing new deal flow, supporting its current 200+ portfolio companies in their growth, and accelerating the successful launch of new industrial champions.

Boryszew Group joins InnoEnergy's 38 existing shareholders representing the industrial, financial,

education and training, and digital sectors. These include: ACB Participations B.V, AGH, Augur SCMT, Capgemini, CEA, EDF, ENGIE, Esade, Grenoble INP-UGA, Groupe Idec, ING, Karlsruhe Institute of Technology, Koolen Industries, KTH, KU Leuven, Naturgy, NIIT, OMV, OMV Petrom, Politechnika Śląska, Pulse - CMA CGM Energy Fund, Rafako Grupa PBG, Renault Group, Santander CIB, Schneider Electric, Siemens Financial Services, SIPLEC E.Leclerc, Société Générale, Stena Recycling, Técnico Lisboa, TOTAL, TU/e, Universitat Politecnica de Catalunya, Universität Stuttgart, Uppsala Universitet, VITO, Volkswagen Group, and Wroclaw University of Science and Technology.


ENDS

About EIT InnoEnergy

EIT InnoEnergy operates at the centre of the energy transition and is the leading innovation engine in sustainable energy. It brings the technology, business model innovation and skills required to accelerate the green deal, progress towards Europe's decarbonisation and re-industrialisation goals, whilst also improving energy security.

Recognised as Europe's top Cleantech and Blue Economy venture capital firm and investor in 2023 by Startup Genome, one of Europe's top 10 most active deeptech investors by Sifted in 2023 and the most active investor in the energy sector in 2022 by Pitchbook, InnoEnergy backs innovations across a range of areas. These include energy storage, transport and mobility, renewables, energy efficiency, hard to abate industries, smart grids and sustainable buildings and cities.

InnoEnergy has a portfolio of more than 200 companies, which are estimated to generate €110 billion in revenue and save 2.1G tonnes of CO2e accumulatively by 2030. Collectively, these companies have raised more than €25 billion in investment to date.

InnoEnergy is the driving force behind three strategic European initiatives which include the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Center (EGHAC) and the European Solar Photovoltaic Industry Alliance (ESIA).

InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union. Since its inception, InnoEnergy has screened more than 7,000 start-ups, launched more than 300 products to market and overseen its portfolio companies filing 370+ patents. Today, InnoEnergy has a trusted ecosystem of 1200+ partners and 39 shareholders and a 200+ strong team with offices across Europe and in Boston, US. www.innoenergy.com


About Boryszew Group

Boryszew Group is one of the largest industrial groups in Poland. Group is made up of 35 manufacturing plants and R&D centers located in Poland, Germany, Czech Republic, Spain, Italy, India, China, Mexico and Brazil. Boryszew is experienced manufacturer with focus on automotive industry Tier 1 supplier, processing of non-ferrous metals (aluminum, brass, steel), recycling and energy. The company is listed on Warsaw Stock Exchange.

https://www.boryszew.com.pl/en/