Amsterdam-based Move Energy’s venture capital Fund I has secured a €35 million commitment from the European Investment Fund (EIF).

The EIF’s commitment, combined with prior commitments from more than 30 investors including cornerstone investor Pon Holdings, brings the Fund’s total commitments above €100 million. Move Energy Fund I specialises in Series A funding that specifically targets decarbonising the power and transport sectors, as well as buildings, as together they contribute 55% of global CO₂ emissions.

So far, the Fund has invested in five companies and intends to hold its final close by the end of Q1 2025, with a hard cap of €150 million.

“This investment reflects our commitment to driving the energy transition.” says Marjut Falkstedt, Chief Executive of the EIF.

“As COP29 has highlighted once again, limiting global warming and the shift towards sustainable energy production, consumption and mobility, are critical in the fight against climate change. Private initiatives like this one are a signal that the market also sees economic opportunities in this context, and we are here to support them.”

Lex Roukens, Managing Partner at Move Energy, said: “We are thrilled to welcome the EIF as a key investor. This commitment validates our mission and strategy and paves the way for further growth. We look forward to collaborating with the EIF to support groundbreaking European ventures in decarbonising power, transport, and buildings.”