Milan, May 13, 2024 – The European Investment Bank (EIB, a key provider of growth capital in Europe, has announced Energy Dome as one of the Innovation Champion awardees at the EIB AdVenture Debt Summit in Luxemburg. Energy Dome, which received venture debt financing from the EIB in December 2023, was recognized for its commitment to innovation and excellence in long-duration energy storage with its proprietary technology, the CO2 Battery.
With the support of the European Commission and EU members, the EIB has committed a total of €6.9 billion in direct financing to more than 290 companies across Europe.
The EIB AdVenture Debt Summit, held in Luxembourg on May 13, 2024, brought together leading figures in venture capital and finance and European Commission representatives to discuss market trends, investment needs, and challenges for innovative companies.
In the current global landscape with a focus shifted towards achieving net-zero goals, Energy Dome’s innovative approach stood out as a pioneer of progress amongst other worthy recipients, with EIB recognizing its efforts and merit by awarding the Innovation Champion award during a dedicated ceremony at the Summit.
About Energy Dome
Energy Dome is revolutionizing energy storage and enabling grid decarbonization by making solar and wind power dispatchable 24/7. The company invented and developed the CO2 Battery, a long-duration energy storage system that makes long-duration energy storage viable globally today. The properties of carbon dioxide allow the system to store energy efficiently and cost-effectively, with a modular and site-independent footprint. CO2 Batteries use readily available, off-the-shelf components from reliable, existing supply chains, providing a scalable pathway to store massive amounts of intermittent renewable energy and accelerate the energy transition. For more information, please visit energydome.com.
Media Contact: Mario Torchio
About the European Investment Bank
The EIB is the lending institution of the EU, owned by its Member States and makes long-term finance available for sound investment to advance the EU’s policy goals. Between 2019 and 2022, the EIB Group provided more than €45 billion in financing for projects in Italy.
In 2019, the EIB’s Energy Lending Policy was adopted to end financing to any unabated fossil fuels energy projects, including natural gas, the first Multilateral Development Bank (MDB) to do so. In 2021, the EIB became the first MDB to align our financial activities with the Paris Agreement. Through its Climate Bank Roadmap, the EIB Group aims to support €1 trillion of investment in climate action and environmental sustainability through the critical decade, 2021-2030. The EIB committed to increasing investment in climate action and environmental sustainability to more than 50 % of the EIB’s annual lending by 2025 – in 2022, that was exceeded with 58%.