Romanian oil and gas group OMV Petrom (BVB: SNP) and its parent group OMV have joined EIT InnoEnergy, a fund supported by major companies like TotalEnergies, Engie, ING, Volkswagen, and Siemens. 

This inclusion is part of a private funding round exceeding EUR 140 million, started in 2023. 

EIT InnoEnergy, co-founded by the EU, has invested EUR 690 million in over 180 companies, projected to generate EUR 72.8 billion in revenue and save 1.1 gigatons of CO2 emissions annually by 2030. 

The fund supports early-stage businesses and aims to enhance energy sustainability and innovation across Europe.

andrei@romania-insider.com

(Photo source: Flickr/OMV Petrom)