Future Cleantech Architects, together with Climate Strategy and over 35 European organizations, has signed a joint letter directed to the President of the EIB and the Chairman of the Board of Governors. The letter urges the EIB to expand its public guarantee programs to enhance Europe’s cleantech manufacturing capabilities and reinforce the EU’s competitiveness in the global green industry.
“To turn innovation into cleantech deployment, the support and confidence of financial institutions is crucial. Through public guarantees, the EIB can provide this essential security for cleantech ventures, enabling them to fund their development at lower borrowing costs, attract private investors and access capital markets more easily, and secure longer term financing” – Peter Schniering, Founder & CEO
By offering guarantees, the EIB can help cleantech manufacturers access deeper and more liquid European capital markets, reducing reliance on expensive equity and venture capital, and enabling manufacturers to compete globally and contribute to Europe’s energy transition.
The EIB should focus on providing manufacturing and loan guarantees to crucial cleantech sectors, such as batteries, energy storage, electrolyzers, solar photovoltaics, industrial heat pumps, and innovative renewables, to address financing gaps and enable large-scale project developments.
Read the complete letter here!