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Bank Gospodarstwa KrajowegoPoland's development bank BGK invests EUR 20 mln in Future Energy Ventures fund
Poland’s state development bank BGK has joined the international Future Energy Ventures (FEV) fund, investing EUR 20 million in it, BGK announced in a statement on Tuesday. FEV invests in infrastructure solutions that accelerate energy transition.
As emphasised by BGK, FEV's investors include the European Investment Fund (part of the European Investment Bank's group) and other European development banks. The money from the Polish development bank is to be allocated to the development of technology companies in Poland.
According to BGK, FEV invests in three areas: energy of the future, cities of the future and technologies of the future.
Energy of the future is part of the global trend of decarbonisation and decentralisation of digital technologies. In the area of cities of the future, it focuses on issues related to progressive urbanisation and so-called smart cities: counteracting fresh water shortages, waste management, traffic congestion and air pollution in cities. The third area is technologies of the future, such as artificial intelligence, machine learning and cybersecurity.
"In line with BGK’s 2025-2030 strategy, we are consistently increasing our equity exposure to investments. Joining the Future Energy Ventures fund is another step by BGK in building Poland’s strong position in the area of modern, sustainable technologies," said BGK board member Jaroslaw Dabrowski, quoted in the bank's statement.
"We want Polish innovations and climate technologies to have a real impact on shaping the low-carbon economy of the future – in Poland and worldwide," he added.
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