Enpal, Electra, and Mirova Recognized for Standout Achievements
Chantilly, France – 7 November 2024 — Cleantech Group announced this year’s exceptional European companies who have made significant progress in championing a more sustainable future. These celebrated winners were recognized at an Awards Dinner at the Cleantech Forum Europe yesterday.
The awards are based on the 12 months ending September 30th, 2024.
“This year’s award winners embody the innovation and drive needed to tackle the pressing challenges of our time,” said Richard Youngman, CEO of Cleantech Group.
“As we strive toward a sustainable future, their achievements remind us that transformative solutions are possible when bold ideas meet dedicated execution. We are excited to celebrate these leaders who are paving the way for a greener tomorrow.”
European Deal of the Year 2024
The European Deal of the Year award recognizes stand-out deals, considered not only for 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.
Enpal, Germany’s first cleantech unicorn, now valued at $2.4B, is the standout European deal for the past 12 months, demonstrated by:
- The €1.1B asset-backed debt facility put in place with Barclays, Bank of America, and Credit Agricole CIB.
- The deal speaks very clearly to the importance of cleantech companies tapping into ever larger amounts of debt in the future, be that structured or plain vanilla, if we are to get close to our decarbonization journey.
Standout 2024 European Fundraising Achievement of the Year (Company)
The Standout European Fundraising Achievement of the Year award is for a company, active in clean technology in the Europe & Israel region, whose fundraising achievement in the past 12 months stands out to Cleantech Group 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.
Electra is a developer of fast charging for electric vehicles. Present in 9 countries, the company builds and operates a network that now includes over 350 stations, with a goal of reaching 2,200 by 2030. The company was the winner this year because:
- Their €304M Series B round stands out, doubling the capital raised in the company’s first three years.
- With 2030 fast approaching, scaling solutions with urgency is critical, and so the involvement of infrastructure-oriented investor types will become ever more critical. This is well illustrated in their Series B syndicate, led by Dutch pension provider, PGGM.
Standout European Fundraising Achievement of the Year (Fund)
Like the company version, the Standout European Fundraising Achievement of the Year (Fund) recognizes a fund manager, whose fundraising achievement in the past 12 months 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.
Mirova is an affiliate of Natixis Investment Managers dedicated to sustainable investing. Mirova and its affiliates manage $35.6B in assets under management (AuM).
- Fundraising has been tough this year and so any of the funds being completed is an accomplishment.
- Looking across the innovation theme in a European context, the final closing of their first impact private equity fund, Mirova Environment Acceleration Capital (MEAC), epitomizes the stand-out achievement. MEAC has lived up to its promise, raising €211M in commitments in its final closing.
About Cleantech Group
Cleantech® Group is a research-driven company that helps corporates, public sector, investors and others, identify, assess, and engage with the innovative solutions and opportunities that are related to the world’s massive, and growing, environmental and climate challenges. Our insights and expertise are delivered to clients all over the world through our Research, Consulting, and Events. We have been the leading authority on global cleantech innovation since 2002.