The energy efficiency industry in Europe focuses on technologies and services that optimize energy use. Companies range from startups developing smart home solutions to established firms offering energy management systems. They all aim to reduce energy waste and lower carbon footprints, aligning with the EU's climate goals. As the continent seeks to transition to greener energy, there has been a surge in innovative products like energy-efficient appliances, smart grids, and sustainable building materials. With advancements in technology, the future promises an increase in automated energy solutions and greater investments in sustainable infrastructure, positioning Europe at the forefront of energy efficiency.


This article highlights 19 prominent investors in the energy efficiency sector in Europe. Ranging from corporate giants like Shell and Equinor to venture firms like InnoEnergy, these investors have made a notable impact in 2024, with 52 deals reported by InnoEnergy alone. Based in locations like London, Paris, and Eindhoven, they represent various scalers, from startups to large-scale corporations. Founded between 1834 and 2010, these investors combine rich histories with modern imperatives, indicating an ongoing commitment to sustainability and efficiency in the energy market.


Top 19 Energy Efficiency Investors in Europe


1. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a range of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. In recent transactions, Bpifrance has invested in startups like Caeli Énergie, which raised €10 million to enhance its production of low-carbon air conditioners, showcasing a clear focus on energy efficiency. Additionally, their involvement in other startups such as Energiency, which focuses on energy management solutions, further emphasizes their commitment to the energy efficiency sector. Overall, Bpifrance's investment strategy reflects a dedication to supporting innovative solutions that contribute to energy efficiency and sustainability.


2. 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 provides business acceleration services, networking opportunities, and prizes to foster innovation across different sectors. Notably, the EIC has been involved in several transactions relevant to energy efficiency, such as providing grants to BlueHeart Energy and Efenco, both of which focus on innovative solutions in the energy sector. For instance, BlueHeart Energy received funding through grants in 2021 and is set to raise additional funds in a venture round in 2025. Efenco secured €3.2 million in grants from the EIC to support its cleantech initiatives. These transactions highlight the EIC's commitment to promoting energy efficiency technologies and supporting companies that contribute to this important sector.


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. It is dedicated to accelerating sustainable energy innovations by providing a marketplace for energy solutions, training programs, and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to address the challenges of energy transition and sustainability. Notably, InnoEnergy has been involved in several transactions that align with energy efficiency, such as Energiency, which raised €4.5 million in its Series A round aimed at enhancing energy intelligence manufacturing in Europe. Additionally, Energiency has received multiple rounds of funding from InnoEnergy, indicating a strong commitment to supporting energy efficiency innovations. Another relevant transaction includes Betterspace, which raised $3,315,448 in its Series A round, further showcasing InnoEnergy's focus on companies that contribute to energy efficiency and sustainability.


4. 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. The EIB supports sustainable projects across various sectors, with a focus on promoting growth and job creation. Among its significant transactions, the EIB provided a EUR 12 million loan to Resalta for energy efficiency services, aimed at digitalization and the development of new energy management systems. Furthermore, the EIB has also financed renewable energy projects, such as a €150 million loan to Iberdrola for the development of solar PV and wind projects, which indirectly contribute to energy efficiency by promoting cleaner energy sources. These transactions highlight the EIB's active role in financing initiatives that enhance energy efficiency and sustainability.


5. Shell

  • Website: shell.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1907
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: shell

Shell plc is a multinational oil and gas company based in London, England, that operates in the energy and chemicals sectors. Founded in 1907, Shell provides essential products such as fuels, lubricants, and chemical solutions to businesses and consumers worldwide. In recent years, Shell has expanded its investment strategy to include energy efficiency initiatives. Notably, Shell Ventures participated in a $75 million strategic capital raise for GridPoint, an intelligent energy network provider focused on smart building technologies. Additionally, Shell has invested in Sense, a company that has raised significant funding to develop energy management solutions. These transactions highlight Shell's commitment to supporting innovations that improve energy efficiency, making it a relevant player in this sector.


6. BloombergNEF

  • Website: about.bnef.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2004
  • Headcount: 51-200
  • LinkedIn: bloombergnef

BloombergNEF is a research firm based in London, specializing in the energy and commodity markets. Founded in 2004, they provide strategic insights and analysis to help businesses navigate the transition to a low-carbon economy. Their offerings include comprehensive research reports, summits, and a pioneering program that identifies innovative technologies for decarbonization. Notably, BloombergNEF has been involved in several grant transactions aimed at supporting energy efficiency initiatives, including investments in companies such as BuildingIQ, FirstFuel Software, Thermondo, Coolerado, and Tendril. These transactions reflect their commitment to fostering advancements in energy efficiency and sustainability.


7. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a crowdfunding platform based in London, England, founded in 2010. It enables businesses, particularly startups and SMEs, to raise capital through equity investments. The platform is dedicated to promoting diversity and inclusion within its workforce while providing investment management services to its clients. In recent years, Crowdcube has been involved in several transactions that focus on energy efficiency. Notably, EcoSync raised over $2 million through equity crowdfunding in 2022 and 2023, showcasing its commitment to energy management solutions. Additionally, Verv, which raised funds in 2021 and 2023, is known for its innovative energy efficiency technologies. These transactions highlight Crowdcube's active role in supporting companies that contribute to energy efficiency, making it a relevant player in this sector.


8. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. In recent years, Almi has been involved in several transactions, including investments in companies like Econans, which raised $1,289,994 in 2023, and EasyServ, which raised $550,785 in 2019. While the specific focus of these companies is not detailed, Almi's investment strategy suggests a potential interest in supporting innovative solutions, including those related to energy efficiency. Their involvement in various funding rounds indicates a commitment to fostering growth in diverse sectors, which may include energy efficiency initiatives.


9. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in managing diverse investment portfolios across multiple sectors, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT Group has made significant investments in companies that align with energy efficiency and sustainability goals. For instance, their acquisition of GETEC in 2017 highlights their focus on energy services, which includes energy efficiency solutions. Additionally, the acquisition of Adven in 2012 further emphasizes their commitment to sustainable energy solutions. These strategic investments reflect EQT Group's role in promoting energy efficiency within their broader investment strategy.


10. Engie

  • Website: engie.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1834
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: engie

ENGIE is a corporate investor based in Paris, Île-De-France, France, with a long history dating back to 1834. The company specializes in renewable energy and energy solutions, providing services aimed at reducing energy costs and emissions through innovative approaches in renewable energy generation, hydrogen production, and energy performance. Engie operates globally with a strong emphasis on sustainability and decarbonization. Among its notable transactions, Engie has invested in Redaptive, a company focused on Efficiency-as-a-Service (EaaS), which secured $20 million in funding to expand its offerings in the commercial sector. Additionally, Engie's acquisition of Tiko Energy Solutions AG, a provider of energy management systems, further underscores its commitment to enhancing energy efficiency. These transactions reflect Engie's strategic focus on integrating energy efficiency into its broader portfolio of renewable energy solutions.


11. TotalEnergies


TotalEnergies is a corporate energy company based in France, founded in 1924, that focuses on producing and marketing a diverse range of energy solutions, including oil, gas, and renewable energy. The company is committed to achieving carbon neutrality by 2050 and serves both businesses and consumers with sustainable and reliable energy sources. Notably, TotalEnergies has made significant investments in the energy efficiency sector, including the acquisition of Greenflex, a French company specializing in energy efficiency, which aligns with their strategy to tackle climate challenges. Additionally, TotalEnergies has invested in SHYFT Power Solutions, a Nigerian solar energy startup, through its Total Carbon Neutrality Ventures, further emphasizing its commitment to sustainable energy solutions that often include energy efficiency initiatives.


12. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA, founded in 1972 and based in Stavanger, Norway, is a public entity operating in the energy sector with a workforce of over 10,000 employees. The company focuses on oil, gas, and renewable energy, with a strong commitment to sustainability and a vision to become a net-zero emissions entity by 2050. Equinor has made several notable investments in the energy efficiency and renewable energy sectors. For instance, they participated in the funding of Carbon Trust, which raised $8.3 million to support projects aimed at reducing carbon emissions. They also invested in BrightSource Energy, which raised $115 million to develop solar energy solutions. Furthermore, Equinor's acquisition of a 10% stake in Ørsted, valued at $2.3 billion, positions them as a major player in the offshore wind market, which is crucial for energy efficiency and sustainable energy production. Their involvement in Vårgrønn's acquisition of a stake in the Dogger Bank Wind Farm highlights their commitment to expanding offshore wind efforts in Northern Europe, further solidifying their role in the energy efficiency landscape.


13. EEP Africa

  • Website: eepafrica.org
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2010
  • Headcount: 11-50
  • LinkedIn: eepafrica

EEP Africa is a not-for-profit organization based in Helsinki, Finland, founded in 2010. It is dedicated to clean energy financing and provides early-stage grants and support for innovative clean energy projects in Southern and Eastern Africa. The organization collaborates with various funding partners to facilitate sustainable development and enhance energy access in the region. Notably, EEP Africa has been involved in several transactions that align with energy efficiency and clean energy initiatives. For instance, they participated in funding rounds for Plentify and VAC Solar, both of which focus on innovative energy solutions. Additionally, they provided a grant to Clamore Solar, which likely contributes to energy efficiency in solar energy applications. Their support for African Clean Energy also indicates a commitment to enhancing energy access through sustainable practices. Overall, EEP Africa plays a significant role in promoting clean energy solutions that can include energy efficiency components.


14. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in several companies that are pivotal in the energy efficiency sector. For instance, they invested £2.65M in Monodraught, a specialist in ventilation systems, which plays a crucial role in improving energy efficiency in buildings. In 2022, BGF led a £10.5 million Series A funding round for Tepeo, a company focused on zero-emission boiler technology, further emphasizing their commitment to sustainable energy solutions. Additionally, BGF's investment in Aceleron, which develops circular economy battery technology, highlights their focus on innovative solutions that enhance energy efficiency and sustainability. Overall, BGF's investment strategy reflects a strong alignment with the goals of energy efficiency and sustainability.


15. Schneider Electric

  • Website: se.com
  • Type: Corporate
  • Headquarters: Rueil-Malmaison, Île-De-France, France
  • Founded year: 1836
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: schneider-electric

Schneider Electric SE is a multinational corporation based in Rueil-Malmaison, Île-De-France, France, specializing in digital automation and energy management. Founded in 1836, the company has grown to employ over 10,000 people and offers a wide range of products and services aimed at enhancing operational efficiency and sustainability for businesses and organizations. In recent years, Schneider Electric has made significant investments in the energy efficiency sector, including acquiring a controlling stake in EnergySage to bolster the clean energy market and investing in Uplight, a company focused on energy efficiency solutions, valued at $1.5 billion. Additionally, their strategic investment in KGS Buildings, a cloud-based building management company, highlights their commitment to improving energy management in buildings. These transactions underscore Schneider Electric's active role in promoting energy efficiency and sustainability across various sectors.


16. Accenture

  • Website: accenture.com
  • Type: Corporate
  • Headquarters: Dublin, Dublin, Ireland
  • Founded year: 2001
  • Headcount: 10001+
  • Number of deals in 2024: 51
  • LinkedIn: accenture

Accenture is a global consulting firm based in Dublin, Ireland, specializing in information technology and management consulting services. Founded in 2001, the firm has grown to employ over 10,000 professionals and operates across various industries, providing solutions that help businesses innovate, improve efficiency, and navigate digital transformation. In recent years, Accenture has made significant strides in the energy efficiency sector through strategic acquisitions. Notably, the acquisition of Carbon Intelligence in September 2022 enhances its sustainability services, adding expertise in carbon and climate change strategy. Furthermore, the acquisition of IQT Group in December 2024, which focuses on engineering managed services for net-zero infrastructure, underscores Accenture's commitment to energy efficiency. These transactions reflect Accenture's dedication to helping organizations achieve their sustainability goals and improve operational efficiency.


17. Siemens

  • Website: siemens.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 11
  • LinkedIn: siemens

Siemens AG, founded in 1847 and headquartered in Munich, Bavaria, Germany, is a leading technology conglomerate specializing in industrial automation, energy solutions, rail transport, and health technology. With a workforce of approximately 320,000 employees, Siemens generates significant revenue and operates globally. The company is committed to enhancing efficiency and sustainability across various sectors. Notably, Siemens has made strategic acquisitions in the energy efficiency space, including Enlighted, a provider of smart IoT systems for buildings, and Wattsense, which specializes in hardware and software for building management. These transactions reflect Siemens' focus on digitalization and innovation in the smart building sector, further solidifying its role as an investor in energy efficiency initiatives.


18. Scottish Enterprise


Scottish Enterprise is a public entity established in 1991, dedicated to fostering economic development in Scotland. It provides a variety of services, including funding, business development advice, and support for innovation and exports. With a focus on helping businesses grow and improve their operations, Scottish Enterprise plays a vital role in enhancing Scotland's economic landscape. Notably, it has been involved in several transactions relevant to the energy efficiency sector, particularly with companies like Sunamp, which specializes in energy storage solutions. Sunamp raised significant funds through multiple rounds, including a Series A round where it secured over $5.8 million in 2020. These investments reflect Scottish Enterprise's commitment to supporting innovative solutions that contribute to energy efficiency, making it a relevant player in this field.


19. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They specialize in supporting tech startups that tackle global challenges through investment, accelerator programs, and mentorship. Katapult has made several investments in the energy efficiency sector, notably in Wattnow, a Tunis-based company that provides IoT smart energy management solutions. Wattnow raised $1.3 million in a pre-Series A funding round led by Katapult Climate, highlighting their commitment to energy efficiency technologies. Additionally, Katapult has invested in other startups like ClevAir and BEAD Technology, which also focus on innovative solutions in energy management. Their portfolio reflects a strong alignment with climate-tech and energy efficiency initiatives, making them a significant player in this space.



Energy Efficiency Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
European Investment Bank (EIB)Luxembourg1001-5000195899
ShellLondon, England, United Kingdom (UK)10001+190720
BloombergNEFLondon, England, United Kingdom (UK)51-20020040
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
EngieParis, Île-De-France, France10001+18343
TotalEnergiesFrance10001+192411
EquinorStavanger, Rogaland, Norway10001+19726
EEP AfricaHelsinki, Uusimaa, Finland11-5020100
BgfLondon, England, United Kingdom (UK)51-200201153
Schneider ElectricRueil-Malmaison, Île-De-France, France10001+18364
AccentureDublin, Dublin, Ireland10001+200151
SiemensMunich, Bavaria, Germany10001+184711
Scottish EnterpriseGlasgow, Scotland, United Kingdom (UK)1001-5000199155
KatapultOslo, Oslo, Norway11-5020178


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