Co-designed by industrial players and public and private financial institutions, the BIP accelerates transactions in the European battery value chain.
Today at the European Battery Alliance’s (EBA) EBA250 stakeholder meeting, EIT InnoEnergy, Europe’s largest sustainable energy innovation engine, launches the online Business Investment Platform (BIP) for the battery value chain, to accelerate transactions between investee and investor. The EBA reconfirms that the business size of the European battery value chain will represent more than €250bn annually, by 2025.
Designed to bridge the gap between financial institutions and businesses, the BIP will shorten time to investment and substantially reduce the associated risk for both parties by facilitating and coaching the businesses, thus enhancing the robustness of the investment cases in all required dimensions (technology, team, supply chain, environmental sustainability, off-takers). The BIP’s impressive network, formed via EIT InnoEnergy’s and the EBA’s networks, includes public and private financial institutions and more than 300+ industrial innovation and academic stakeholders.
Speaking at today’s meeting, Diego Pavia, CEO at EIT InnoEnergy, said: “The future is electric. Batteries are quickly becoming the cornerstone of the energy transition and 70B€ of frontloaded investment in batteries is required to meet peak European demand by 2023.”
In October 2017, VP of the European Commission, Maroš Šefčovič, gave EIT InnoEnergy the mandate to lead the implementation of the EBA. Its objective is to enable the transition to electromobility, keeping the value created in Europe.
Already utilising the platform are several industrial and financial institutions, for a net worth potential investment value of €20bn. The BIP will be showcased at EIT InnoEnergy’s flagship event The Business Booster from the 3 – 4 October 2019 in Paris, France.