Rondo Energy announces €75M project funding with Breakthrough Energy Catalyst and the European Investment Bank

Rondo Energy United Kingdom California

in 2021 at COP26 in Glasgow with the aim to develop large-scale green tech projects based in Europe and boost investments in critical climate technologies.

Catalyst currently focuses on five technology areas: clean hydrogen, sustainable aviation fuel, direct air capture, long-duration energy storage, and manufacturing decarbonization. In addition to capital, Catalyst leverages the team's energy-infrastructure-investing and project-development expertise to work with innovators on advancing their projects from the development stage to funding, construction and ultimately, operations. Learn more about Breakthrough Energy and Catalyst at breakthroughenergy.org.

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union. It finances sound investment contributing to EU policy goals. As implementing partner of the Commission under InvestEU, the EIB has been tasked to deploy up to €420 million for the benefit of the EU-Catalyst partnership. These funds are made available from both Horizon Europe, which has committed €200 million, and the Innovation Fund, which has committed €220 million. The EU-Catalyst partnership does not exclude potential additional contributions from EU Member States or other private partners that decide to further support the projects.

About Covestro:

Covestro is one of the world's leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.

The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group's Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.4 billion in fiscal year 2023. At the end of 2023, the company had 48 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).

About GreenLab:

GreenLab is a green and circular industrial park. It was established in 2019 to test, demonstrate, and accelerate the green transition by improving the way renewable energy is produced, converted, stored, and utilized. GreenLab shows the way for breaking down energy silos and integrating energy systems. In practice, this is done through GreenLab's SymbiosisNet™. GreenLab has created the ideal conditions for connecting industrial production with a new and innovative energy infrastructure, research, and large-scale testing of new technologies.

www.greenlab.dk 

https://www.linkedin.com/company/greenlabskive 

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