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Siemens and EIT InnoEnergy strengthen alliance to accelerate the energy transition in Spain

Aimed at fast-tracking the decarbonisation of hard to abate industries and mobility, the strategic alliance combines Siemen’s expertise in digital transformation with EIT InnoEnergy’s leadership in accelerating innovative and sustainable energy companies across Europe.

Under the partnership, Siemens, through its financial arm Siemens Financial Services (SFS), will participate as a shareholder in EIT Innoenergy. It will act as a technology partner, working alongside EIT InnoEnergy in the region on a variety of projects. It will leverage its knowledge of cutting-edge technologies such as digital twin, artificial intelligence, predictive maintenance, and energy consumption monitoring to help businesses meet efficiency and profitability targets.

It is a priority for us to accelerate the digital transformation and the decarbonisation process of industries in Spain. Now, together with EIT InnoEnergy, we are strengthening our ability to drive new projects in strategic sectors within our economy.

Agustin Escobar, President, and CEO of Siemens in Spain 

SFS has been a shareholder of EIT InnoEnergy since the end of 2021, contributing its experience in financing large-scale industrial projects focused on sustainability. Now other divisions have joined the alliance such as Siemens Digital Industries – providing expertise on digitalisation and automation solutions, including smart infrastructures for electrification technology. In 2023, along with other shareholders, SFS and EIT InnoEnergy collaborated on establishing FerigHy, a company to lead the decarbonisation of the European fertiliser market. FertigHy produces zero-carbon fertiliser in a way that is affordable for European farmers and will build its first plant in Spain, with construction beginning in 2025.

We have set ourselves a mission to continue expanding our participation in decarbonising hard to abate industries, including battery and PV value chains. Together with Siemens we can accelerate our ambitions, providing crucial support to businesses in Spain that will make a real difference to the future of the region and the global energy transition.

Mikel Lasa, CEO of EIT InnoEnergy Iberia