Amsterdam, 10 November 2022 - As drought and contamination affect many of Europe’s waterways and reserves, the need for solutions to better manage this scarce resource grows by the day. According to the United Nations, over 2.3 billion people live in water-stressed areas, and water is at the core of many of the UN’s Sustainable Development Goals (SDGs). Water issues are both a cause and an effect of climate change, and it is arguably the single most important issue affecting the global population. Without innovative solutions, which are critical to achieving an environmentally sustainable and economically viable water cycle, we will be unable to counteract the trend in climate change.
PureTerra Ventures I has a target size of €80 million with an ultimate close at €100 million, with which it aims to support companies developing disruptive water technologies in their early stages of commercialisation. The InvestEU programme will back €25 million for the fund through an EU budget guarantee, while the Dutch Future Fund, which the EIF manages on behalf of Dutch national promotional institution Invest-NL, will invest €5 million. The fund has a global reach but its main focus will be on Europe.
Paolo Gentiloni, European Commissioner for the Economy, said: “This summer’s extreme weather conditions in Europe have provided further evidence of the need for sustained investment to adapt to the consequences of climate change. The InvestEU programme provides a powerful tool to support such investments. Through this project, SMEs will receive support to access the finance they need to develop technologies for climate change mitigation and adaptation in the field of water and wastewater management solutions.”
“We are seeing the real impact of climate change, every day, especially when it comes to water scarcity.” says Alain Godard, Chief Executive of the European Investment Fund. “In addition to changing our behaviour and consumption patterns, innovative solutions are needed. Therefore we are glad to announce our support for PureTerra Venture I, which will be the first water-focused fund financed by the EIF.”
“The Netherlands has a long and extensive relationship when it comes to living with water. As part of our national heritage, innovative water solutions and technologies have enabled pioneering entrepreneurs to build successful global companies,” added Invest-NL CEO Rinke Zonneveld. “As we can all witness, climate change brings new water-related challenges to the forefront. Therefore, it is great that through our Dutch Future Fund partnership with the EIF, Amsterdam-based PureTerra Ventures can scale-up its investments in Dutch and other European SMEs with promising game-changing water-related technologies.”
Water is the foundation of life, yet undervalued by most. The overall water cycle is broken and its repair is long overdue,” says Job van Schelven, partner at PureTerra Ventures. “The European Investment Fund subscribes to PureTerra’s ambition: Clean Water for All. PureTerra’s partners are grateful to InvestEU and the Dutch Future Fund for valuing the necessity of water expertise and entrepreneurial experience for scaling solutions to maximise impact. With the commitment to water, the European Investment Fund is leading the financial markets in recognising the need and the opportunities inherent in water distress.”
Background information:
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budgetary guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
The Dutch Future Fund (DFF) aims to support the Dutch economy and contribute to preparing it for the future by focusing on areas such as digital innovation, artificial intelligence, life sciences and key enabling technologies, as well as thematic objectives such as the energy transition, sustainability and the circular economy.
Press contacts:
EIB Group:
Tim Smit, Tel.: +352 691 28 64 23, t.smit@eib.org. Follow us on Twitter.
European Commission:Flora Matthaes, Tel.:+32 229 83951, flora.matthaes@ec.europa.eu,
https://investeu.europa.eu, #InvestEU
PureTerra: Regine van Noord, Tel.: +31 (0)6 3193 4496, Regine@pureterra.com
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