EU funding

Ahead of the European elections, Impact Europe and five national impact investing networks have launched their Impact Manifesto, calling on the EU to introduce policies to enable the work of impact investors.

The private credit fund has received €20m from the European Investment Fund to support agricultural SMEs looking to decarbonise their businesses in Bulgaria, Latvia, Lithuania, Poland and Portugal.

The company, which makes electrolysers for hydrogen production, is targeting rapid expansion of installations to meet a forecast sharp rise in demand for green hydrogen, as countries strive to meet net-zero targets.

Spanish food-tech company Heura Foods has raised €40m which it will invest in innovation and the expansion of its portfolio of technological patents in the production of plant-based foods.

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 Dutch insect breeder also gets the backing from the InvestEU programme to scale up its sustainable protein production.

The fund aims to help foster the development of indigenous tech companies in Ireland to support the country in meeting its climate change targets across a spectrum of agricultural and industrial sectors.

Impact Europe and GSG were among signatories to an open letter calling on the EU to put impact investing centre stage when reappraising its green investment regulatory framework.

The Fiscal Matters Coalition wants reforms to the EU’s Stability and Growth Pact to better align with national budgets, in order to achieve a green and just transition.

Differing perceptions of fiduciary duty is one of several reasons European and US investors diverge in their strategies when seeking to make an impact.