The European Investment Bank (EIB) is financing the innovation and development strategy that Velatia will drive forward in the electrical energy sector. EIB Vice-President Emma Navarro and Velatia’s CEO, Javier Ormazabal, today signed a EUR 32.5 million finance agreement that will enable the firm to incorporate new digital technologies into the products that it develops for electricity networks.
The air transport industry is one of the fastest-growing sources of greenhouse gas emissions. About 3 % of the EU’s total emissions – currently around 130 million tonnes – can be attributed to aviation. With the demand for travel growing at a rapid pace and air traffic expected to increase by 45 % by 2035, the sector is facing a major environmental challenge.
An EU initiative will deploy hydrogen fuel cell electric vehicles in three European capitals as taxis, private-hire and police cars. The move will accelerate their commercialisation and help realise emissions-free transport.
The European Investment Bank approved a total of EUR 12.6 billion of new financing for 83 projects located across Europe, Asia, Latin America and Africa. This represents a record level of new support ever agreed at a monthly meeting of the EIB Board of Directors.
The European Fund for Strategic Investments (EFSI) has mobilised €335 billion in additional investment across the EU since July 2015. The Juncker Plan has made a clear impact on the EU economy and revolutionised the way innovation is financed in Europe.