The largest oil and gas producer in Romania, OMV Petrom, became a shareholder of the EIT InnoEnergy fund, co-founded by the European Union, according to Profit.ro.

The operation was carried out through a 2023 private financing round of more than 140 million euros. The EIT InnoEnergy Fund is recognized as an important investor making placements at the start of a new business. So far it has invested 690 million euros in more than 180 companies that are expected to generate revenues of 72.8 billion euros and save 1.1 gigatons of CO2 emissions annually by 2030.

The fund, established in 2010 by the European Institute of Innovation and Technology, has 29 shareholders, including ING, Volkswagen, French group TotalEnergies, French real estate giant Groupe IDEC, Siemens, Engie, Schneider Electric, EDF, Capgemini and a number of European universities with renown. EIT InnoEnergy also signed a memorandum with the Government of Romania for the realization and implementation of a national strategy for batteries, going to perfect or retrain approximately 20,000 people in this field, in the next four years. EIT InnoEnergy was named by the American research firm PitchBook as the most active investor in sustainable energy globally in 2020.