[14 November 2024, EU] – The European Institute of Innovation and Technology (EIT) Urban Mobility released its 2024 Impact Report, demonstrating remarkable progress in fostering sustainable urban mobility solutions across Europe, with particularly strong contributions from Eastern European ventures. The report highlights the organisation’s strategic investments and impactful initiatives, showcasing a positive shift towards a greener and more efficient urban future.
A Pan-European Success Story with Eastern European Highlights
The 2024 Impact Report showcases EIT Urban Mobility’s impressive investment portfolio, comprising 155 ventures across 30 countries, representing a remarkable €1 billion market capitalisation and €117.5 million in raised funds. A notable 45% of these ventures are woman-led, underscoring a commitment to diversity and inclusion. The positive impact extends across multiple dimensions:
• Societal Impact: The portfolio generated 1,070 direct or indirect jobs, contributing significantly to shared resources and fostering financial independence for numerous entrepreneurs.
• Knowledge Advancement: A substantial investment in R&D is evident in the 55,266 hours of engineering services contributed by the portfolio, driving innovation and technological advancement.
• Environmental Sustainability: EIT Urban Mobility’s investments have demonstrably reduced greenhouse gas emissions by 10,027 tonnes and treated 196,625 cubic metres of wastewater, resulting in improved air and water quality. The positive impact on public health is estimated at 242 life-years gained.
• Alignment with SDGs: The portfolio’s strong alignment with key Sustainable Development Goals (SDGs) further validates its positive impact. Notable examples include 100% alignment with SDG 7 (Affordable and Clean Energy), 80% with SDG 9 (Industry, Innovation, and Infrastructure) and SDG 11 (Sustainable Cities and Communities), and 50% alignment with SDG 13 (Climate Action).
• EU Taxonomy Alignment: The portfolio demonstrates a considerably higher alignment with EU Taxonomy objectives than a benchmark group, solidifying EIT Urban Mobility’s commitment to environmentally sound practices. This includes significant contributions to climate change mitigation, the circular economy, and climate change adaptation.
Eastern European Innovation Takes Centre Stage
Within this pan-European success story, EIT Urban Mobility’s investments in Eastern Europe are particularly noteworthy:
• Meter Solutions (Hungary): This innovative SaaS platform optimises EV charging by leveraging IoT, machine learning, and predictive analytics. By intelligently aligning charging demands with renewable energy, Meter Solutions reduces infrastructure costs, lowers carbon emissions, and optimises grid management. This technology is particularly relevant to Eastern Europe, addressing the region’s growing need for sustainable EV charging infrastructure.
• Pealock (Czech Republic): Addressing the significant challenge of micromobility theft, Pealock provides a smart electronic lock for e-scooters and bicycles. Its innovative design, recognised with a Red Dot Award, incorporates GPS tracking, motion sensors, an alarm system, and an integrated insurance option, enhancing security and encouraging wider micromobility adoption.
• ProperGate (Poland): ProperGate is revolutionising construction site logistics with its digital platform. By streamlining deliveries and materials management, ProperGate minimises traffic congestion, reduces waste, and lowers carbon emissions, improving air quality and overall urban sustainability. A successful pilot programme with Bosta-Beton in Warsaw exemplifies its real-world impact.
Strategic Approach and Future Outlook
EIT Urban Mobility’s investment strategy prioritises ventures with demonstrably positive net impacts, aligning with SDGs and EU regulations while fostering strong financial returns. The organisation actively supports early-stage startups, especially those in less-developed economies and those led by women. A rigorous impact measurement process underpins its commitment to accountability and continuous improvement.
EIT Urban Mobility remains committed to driving innovation and supporting the transition to more liveable urban environments. Its multifaceted approach, combining financial investment with comprehensive support and guidance, is paving the way for a sustainable and equitable future of urban mobility. To gain increased insight into EIT Urban Mobility’s approach to impact investing, an explanation into the importance of impact measurement and highlights from the portfolio, the full report can be found here.
BACKGROUND
About EIT Urban Mobility
EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union, aims to accelerate solutions and the transition towards a user-centric, integrated, and truly multimodal transport system. As the leading European innovation community for urban mobility, EIT Urban Mobility works to avoid fragmentation by facilitating collaboration between cities, industry, academia, research, and innovation to solve the most pressing mobility challenges of cities.
For more information visit www.eiturbanmobility.eu.
