Cleantech Group Names the 2022 European Awards for Cleantech Investor, Fundraising Achievement, and Deal of the Year

Demeter, GravitHy, and Wallbox Recognized for Outstanding Achievements

Brussels, BE – 10 November 2022 — Cleantech Group announced this year’s exceptional companies who have made significant progress in championing sustainable innovation.  These celebrated winners were recognized at an Awards Banquet at the Cleantech Forum Europe today.

The awards are based on the 12 months ending September 30th, 2022.

“I am honoured to mark and celebrate the achievements of these exemplary companies,” said Richard Youngman, CEO of Cleantech Group.  “While there were many more notable companies doing great things in the name of sustainable innovation over the past year, Demeter, GravitHy, and Wallbox were distinct in many ways and emerged from the pack.”

European Investor of the Year

European Investor of the Year recognizes an investor who has demonstrated positive outcomes and progress across the major activity set – fundraising, realizing positive returns for LPs, and portfolio management — both in progressing the current portfolio and adding quality new companies.

Demeter’s funds support companies in the sector at all stages of their development from innovative startups, to small- and mid-cap companies, as well as infrastructure projects.  Their award was demonstrated by:

  • First or interim closes for four funds, showing the full variety in embracing the cleantech theme: from a €300m infrastructure fund to a €150m circularity one, from an €80m regional industrial fund to a €70m fund dedicated to the ecological transition of wine.
  • The sale of envelio and Wattsense to E.ON and Siemens, respectively, in Q4 2021, with a record return achieved this year with Deepki, a company Demeter still holds a strong position in.
  • The capital they are putting to work across their funds, averaging 2-3 deals per month over the last 12 months, with an even split between new investments and follow-ons.

Standout Fundraising Achievement of the Year

Standout Fundraising Achievement of the Year appreciates a company active in clean technology whose fundraising achievement stands out for any combination of its audacity or its novelty, its impressive execution or the quality of its syndicate, or its pioneering and example-setting nature.

GravitHy supports the emissions reduction of the steel industry by generating and using green and low‐carbon hydrogen to produce DRI (Direct Reduced Iron).  The company rose to the top because they:

  • Came out in the summer as a new company, in one of the hard to abate sectors (namely, steel), with plans and capital partners in place to build, own and operate its first green iron plant in France, mobilizing €2.2bn worth of initial investment and creating over 3,000 new jobs while introducing a new and innovative business model in this important industry.

European Deal of the Year

European Deal of the Year recognizes stand-out deals, considering not only their financial characteristics, but also for the wider impact and what the deal says for the future of deal-making for clean technology companies and investors, and for the direction and future of sustainable innovation.

Wallbox, a Spanish developer and manufacturer of EV chargers, had a noteworthy IPO via a SPAC, in October 2021.

  • Wallbox merged with exchange shell Kensington Capital Partners for the purpose of going public. The joint company, valued at around $1.5 billion, was listed on the New York Stock Exchange under the ticker symbol WBX.

About Cleantech Group

Cleantech® Group provides research, consulting and events to catalyse opportunities for sustainable growth powered by innovation.  At every stage from initial strategy to final deals, we bring corporate change makers, investors, governments and stakeholders from across the ecosystem the access and customized support they need to thrive in a more digitized, de-carbonized and resource-efficient future.