The fund, in which Allied Irish Banks is a cornerstone investor, supports small- and medium-sized businesses in Ireland as they transition to the green economy.
The EU-backed funding is part of €4.2bn in debt financing announced by H2 Green Steel for its large-scale green steel plant in Sweden, on top of equity investments of €300m and a €250 million grant from the EU’s Innovation Fund.
The UK-based investor said money committed so far was being invested in 19 startups, including six in Germany, where it has established a hub in Berlin.
The fund will invest in the “missing middle” between venture and buyout in climate-related sectors including energy transition, buildings and mobility, climate intelligence, production and consumption, and food and agriculture.
Organisations seeking to boost impact investment in emerging markets and tackle nature loss took advantage of the global stage provided by the annual World Economic Forum to talk about key initiatives.
FINN, which operates a car subscription business in the US and Germany, will use the €100m funding round to more than double the share of low-emission vehicles to over 80% of its fleet.
The green and sustainability-linked loan from IFC will finance renewable energy projects in emerging markets, including those heavily reliant on coal, in support of a just transition to a low carbon economy.
The investment by a trio of European funds will enable FA Bio to expand its business, which develops microbial bioproducts to replace more harmful chemical agricultural inputs.
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