The biofuels industry in Benelux is rapidly evolving, driven by the need for sustainable alternative energy. A variety of players operate in this sector, including startups developing cutting-edge biofuel technologies and established firms focusing on traditional bioenergy sources. This industry is seeing increased investment aimed at reducing carbon footprints and enhancing energy security. In addition to producing biodiesel and bioethanol, companies are exploring innovative pathways like algae-based fuels and bio-based chemicals. Future projections suggest that biofuels will play a crucial role in achieving climate goals, aligning with global trends towards decarbonization and renewable energy adoption.


The top biofuels investors in Benelux showcase a mix of corporate, venture capital, and private equity players based in key urban centers like Brussels, Amsterdam, and Luxembourg. With investment firms ranging from small teams of 1-10 to large organizations employing over 1,000, they are united in purpose. Established mainly between 1980 and 2020, these investors have engaged in a total of 299 transactions in 2024 alone, focusing on biofuel projects that support sustainability and innovation. Their commitments highlight their strategic roles in advancing technologies crucial for the energy transition.


Top 13 Biofuels Investors in Benelux


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC also provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in funding transactions relevant to the biofuels context, such as Electrochaea, which raised over $20 million in a venture round, and Carbo Culture, which received grants for its carbon removal technologies. These investments reflect the EIC's commitment to supporting innovative solutions that can contribute to sustainable energy and environmental goals.


2. European Investment Bank (EIB)


The European Investment Bank (EIB), founded in 1958 and based in Luxembourg, is a public entity that provides a range of financial services including loans, equity investments, guarantees, and advisory services. It aims to support sustainable projects that promote growth and job creation across various sectors. In recent years, the EIB has been involved in significant transactions that align with the renewable energy sector, such as providing debt financing to Repsol Energy Ventures, which raised over $635 million, and Ørsted, a leader in renewable energy, which secured $584 million in post-IPO debt. These transactions highlight the EIB's role in financing initiatives that could include biofuels, thereby reinforcing its relevance in the biofuels investment landscape.


3. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands, dedicated to accelerating sustainable energy innovations. It serves as a marketplace for energy solutions, providing training programs and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle the challenges of energy transition and sustainability. Notably, InnoEnergy has been involved in several transactions relevant to the biofuels industry, including Ingelia, which raised $566,952 in a Series A round in 2020, and Meva Energy, which raised over $1.2 million in a Seed round in 2021. These investments highlight InnoEnergy's active role in promoting biofuel technologies and solutions, further solidifying its position in the biofuels investment landscape.


4. EDFI ElectriFI - The Electrification Financing Initiative


EDFI ElectriFI - The Electrification Financing Initiative is a not-for-profit impact investment facility based in Belgium, founded in 2016. It focuses on financing renewable energy projects in developing countries, providing both equity and debt financing along with technical assistance to enhance access to clean energy. The organization targets renewable energy companies and projects, particularly in rural and underserved areas, to help them achieve sustainable energy solutions. Notably, EDFI ElectriFI has invested in Sistema.bio, which raised $15 million in 2024 and aims to deliver clean and renewable energy through bio-gas technology for farmers. Additionally, they participated in earlier funding rounds for Sistema.bio, including a Series A investment of $12 million in 2019. Their investment in Husk Power Systems, which received $6 million in debt financing, also supports renewable energy initiatives in rural communities, further demonstrating their commitment to sustainable energy solutions that can include biofuels.


5. Invest-NL

  • Website: invest-nl.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2020
  • Headcount: 51-200
  • Number of deals in 2024: 17
  • LinkedIn: invest-nl

Invest-NL is an impact investment firm based in Amsterdam, Netherlands, founded in 2020. The firm focuses on financing sustainable and innovative projects, particularly in the energy and technology sectors. They support entrepreneurs with promising plans for societal transitions, aiming to mobilize capital for impactful investments that contribute to a more sustainable economy. Notable transactions include their investment in Paques Biomaterials, which raised €14 million to build a facility for producing biopolymers, and their involvement with BioBTX, which is constructing a demonstration plant for bio-based chemical technology. These investments highlight Invest-NL's commitment to supporting the biofuels industry and sustainable innovations.


6. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm founded in 2005, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant investments in the biofuels sector, including a 30% stake in Cosan Lubes Investments Limited (Moove), a company involved in biofuels production, highlighting their engagement in this industry. Additionally, CVC has a diverse portfolio with investments in various sectors, including energy and chemicals, which may intersect with biofuels. Their strategic approach to investments positions them as a potential player in the biofuels market.


7. Astanor

  • Website: astanor.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: astanor-venture

Astanor is an impact investment firm based in Luxembourg, founded in 2017, that focuses on the agrifood tech sector. They aim to support innovative companies that create sustainable food systems through strategic guidance and investment. Astanor has been involved in several notable transactions that reflect their commitment to sustainability and innovation. For example, they invested in Switch Bioworks, which raised $17 million in a seed round in 2024, focusing on sustainable biofertilizers. They also participated in the funding of Modern Meadow, a bio-based materials developer that secured $130 million in Series C funding, indicating their interest in bio-based solutions that can contribute to sustainability in agriculture and potentially biofuels. Their portfolio includes companies like Planetary, which aims to enhance bioprocessing capacity in the food fermentation industry, further showcasing their focus on sustainable practices within the agrifood sector.


8. SHIFT Invest

  • Website: shiftinvest.com
  • Type: Venture Capital
  • Headquarters: Amstelveen, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: shift-invest

SHIFT Invest is a venture capital fund based in Amstelveen, North Holland, Netherlands, founded in 2009. The firm specializes in impact investing, focusing on innovative enterprises that have significant potential for environmental impact. They provide funding and support to early-stage companies across various sectors, including energy transition, smart food & agriculture, and sustainable mobility. Notably, SHIFT Invest has been involved in several relevant transactions in the biofuels sector, such as leading a funding round for Vertoro, a bio-based startup developing Goldilocks® liquid lignin technology, and participating in funding rounds for ChainCraft, which is scaling up its biofuel production capabilities. These investments highlight SHIFT Invest's commitment to sustainability and their role in advancing biofuel technologies.


9. Capricorn Partners


Capricorn Partners is an investment management firm based in Leuven, Flanders, Belgium, specializing in venture capital, growth capital, and quoted equity funds. Founded in 1993, the firm focuses on innovative companies across various sectors, including digital technologies, health, and clean technologies. Notably, Capricorn Partners has been involved in several funding rounds for Green Biologics, a UK-based chemicals producer that operates in the biofuels industry. Their investments include a £4.9 million Series B funding round in 2010, a $4.2 million Series C round in 2015, and earlier venture rounds in 2012 and 2013. This involvement highlights their commitment to supporting impactful technologies, particularly in the clean and biofuels sectors, while maintaining a focus on responsible investing that aims to create both financial returns and strategic value for their clients.


10. Icos Capital


Icos Capital is a venture capital firm based in Rotterdam, South Holland, Netherlands, founded in 2005. The firm specializes in ClimateTech investments, partnering with startups and corporations to accelerate sustainability through innovative technologies. Their focus spans various sectors, including Food Systems and Circular Economy, aiming to achieve significant reductions in greenhouse gas emissions. Notably, Icos Capital has invested in NapiFeryn BioTech, which has developed a patented technology for obtaining rapeseed protein from oil pressing side-streams, highlighting their engagement in the biofuels context. Additionally, they have made investments in companies like Photanol and Holiferm, which, while not exclusively biofuels-focused, contribute to sustainable practices and technologies that can intersect with biofuel production and utilization.


11. Rubio Impact Ventures


Rubio Impact Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 2014. The firm specializes in impact investing, providing growth capital and strategic support to entrepreneurs addressing significant social and environmental challenges. Their investment areas include clean energy, mental health, and education, emphasizing collaboration with portfolio companies. Notably, Rubio Impact Ventures has invested in Goodfuels, which focuses on sustainable fuel solutions, highlighting their engagement in the biofuels sector. Additionally, they have participated in funding rounds for companies like Arborea and Black Bear Carbon, which are involved in innovative technologies related to sustainability and carbon management, further showcasing their commitment to environmental impact.


12. Triodos Bank

  • Website: triodos.com
  • Type: Venture Capital
  • Headquarters: Driebergen-Rijsenburg, Utrecht, Netherlands
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: triodos-bank

Triodos Bank N.V. is a public entity operating as an ethical bank focused on sustainable finance, founded in 1980 and based in Driebergen-Rijsenburg, Utrecht, Netherlands. The bank offers services such as depository receipts, green bonds, and investment management, catering to individuals and businesses seeking to align their financial activities with ethical and sustainable practices. Triodos Bank has made notable investments in the renewable energy sector, including a significant investment in Sistema.bio, which raised $12 million in a Series A round to develop affordable bio-gas equipment for small and remote farms. This investment aims to enhance environmental sustainability and profitability for farmers, showcasing Triodos Bank's commitment to biofuels and sustainable energy solutions. Additionally, they have participated in various financing rounds for renewable energy companies, further emphasizing their focus on sustainable investments.


13. ABN AMRO Clearing Bank

  • Website: abnamro.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1982
  • Headcount: 501-1000
  • Number of deals in 2024: 19
  • LinkedIn: abn-amro-clearing-bank-n-v-

ABN AMRO Clearing Bank, founded in 1982 and based in Amsterdam, North Holland, is a banking institution that provides a range of financial services including personal banking, business banking, and investment management. As a venture capital investor, they have been active in various sectors, including renewable energy. Notably, they participated in significant transactions such as EET Fuels, which raised $650 million in debt financing in 2024, indicating a strong interest in the biofuels sector. They also invested in Mainstream Renewable Power, which raised over $122 million in 2019, and Low Carbon, which secured approximately $387 million in 2023. These transactions highlight ABN AMRO Clearing Bank's commitment to supporting companies that are pivotal in the transition to renewable energy, including biofuels.



Biofuels Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
European Investment Bank (EIB)Luxembourg1001-5000195899
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
EDFI ElectriFI - The Electrification Financing InitiativeBelgium11-5020162
Invest-NLAmsterdam, North Holland, Netherlands51-200202017
CvcLuxembourg1001-5000200516
AstanorLuxembourg11-50201710
SHIFT InvestAmstelveen, North Holland, Netherlands11-5020094
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
Icos CapitalRotterdam, South Holland, Netherlands11-5020054
Rubio Impact VenturesAmsterdam, North Holland, Netherlands1-10201413
Triodos BankDriebergen-Rijsenburg, Utrecht, Netherlands1001-500019802
ABN AMRO Clearing BankAmsterdam, North Holland, Netherlands501-1000198219


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