The European Investment Fund (EIF), guaranteed by the European Union budget through the new InvestEU programme contributed 25 million euros to 100 million euros which raised the new investment fund Green Generation EU, founded by women.

KfW Capital provided 10 million euros. The Green Generation Fund invests exclusively in sustainable start-ups buissneses that are making significant progress:

• in reducing CO₂ emissions
• the circular economy
• the protection of the climate and resources
• health promotion
• biodiversity

Objective and funding of the programme InvestEU

The aim is to strengthen the new food technology and green technology industries and contribute to the reduction of CO₂ in the agriculture and food sectors.

For example, funding is provided for the export of vegetable proteins and innovations in fermentation, as well as cell culture. In addition, solutions are considered for:

• reducing the use of preservatives in the food industry
• more sustainable packaging and supply chains
• solutions for carbon sequestration
• green technologies software

The EIB investment is one of the first in Germany under the new InvestEU programme.

. Paolo Gentiloni stated in this regard: "Ensuring the green transition will require sustained investment. This is where InvestEU's contribution can be crucial. I am particularly pleased that the new InvestEU program is supporting this EIB investment for supporting start-ups specializing in green technologies. The such funding agreement will ensure they have access to funding they need to invest in innovation, expand and create jobs. I hope many more innovators will follow this example."

The InvestEU program provides the E.U. crucial long-term financing, leveraging significant private and public resources to support sustainable recovery. It also contributes to the mobilization of private investment for EU political priorities, such as the European Green Deal and the digital transition. The InvestEU fund is implemented through financial partners who will invest in projects with a guarantee of the EU budget, amounting to 26.2 billion euro.

The budget guarantee will fully support the implementing partners' investment projects, increase risk-taking capacity and thus will mobilize at least 372 billion euros in additional investments. The relevant press release is available here .