Thu, 30 Nov 2023

NIIT MTS Makes a Strategic Investment in EIT InnoEnergy

08 Sep 2023, 19:07 GMT+10

BusinessWire India

New Delhi [India], September 8: NIIT Learning Systems Limited [NIIT Managed Training Services (NIIT MTS)] announced that it has made a strategic investment in KIC InnoEnergy, SE (EIT InnoEnergy) - EIT InnoEnergy secures over 140 million in private placement round. With this investment, NIIT MTS joins the cap table as one of the new strategic investors in the private placement round that includes major players from industrial, financial, training, and digital sectors to accelerate the clean energy industrial innovation.

Earlier this year, EIT InnoEnergy had selected NIIT MTS as a strategic partner of the EIT InnoEnergy Skills Institute. The strategic investment reinforces NIIT's commitment to the strategic learning partnership with the EIT InnoEnergy Skills Institute. The investment bolsters NIIT MTS' core goal of developing the human capital and skills to enable decarbonisation and make a meaningful contribution to the rapid transition to Green Energy.

EIT InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union (EU). EIT InnoEnergy operates at the centre of the energy transition and is the leading innovation engine in sustainable energy, bringing the technology and skills required to accelerate the energy transition and progress towards global decarbonisation efforts.

EIT InnoEnergy is ranked as Europe's top impact investor in cleantech in 2022, named in 2023 as a top 10 active deep tech investor by Sifted, and is recognised globally as the most active sustainable energy investor. EIT InnoEnergy backs innovations across a range of areas including energy storage, transport and mobility, renewables and sustainable buildings and cities - leveraging its trusted ecosystem of partners and shareholders.

This partnership capitalises on NIIT's global reach and robust infrastructure, enabling the rapid deployment of services and accelerating training initiatives across Europe, Asia, and North America. NIIT will also spearhead the go-to-market program, expanding the offering to a diverse range of industries and companies across the global green energy value chain. Additionally, NIIT will establish and manage a network of local training partners in multiple countries, further expediting adoption and impact.

The transition to net zero presents the century's most significant opportunity, triggering an unprecedented demand for talent and skills worldwide. To realise this ambitious goal, up to 18 million workers will require retraining globally. For instance, the number of solar PV jobs is projected to quadruple between 2015 and 2030. This strategic investment strengthens the partnership between EIT InnoEnergy and NIIT, providing opportunities for close collaboration in addressing the challenges and seizing the immense potential of decarbonisation.

"New strategic players have joined InnoEnergy's outstanding cap table, several shareholders have reinvested, and altogether we have secured sufficient fresh financial resources to double our on-going impact," said Diego Pavia, CEO of InnoEnergy.

InnoEnergy currently has a portfolio of 200 companies, three of which are unicorns, on track to generate 110 billion in revenue and save 2.1G tonnes of CO2e accumulatively by 2030.

"As the world accelerates decarbonisation initiatives, NIIT MTS has a two-fold commitment to the green energy transition as a strategic partner of EIT InnoEnergy. On the one hand, we are excited to be the strategic learning services partner of the InnoEnergy Skills Institute to help rapidly scale and create the highly skilled and certified human capital essential for the rapid transition to Green Energy. On the other, we believe that EIT InnoEnergy is poised to be the green transition thought leader and partner of choice for corporations and governments globally," said, Sailesh Lalla, Chief Business Officer at NIIT MTS.

"This is why we have strategically invested in EIT InnoEnergy as a shareholder to reinforce our commitment to the partnership. This partnership will also help us make a meaningful contribution to decarbonisation while leveraging our core strength of developing the human capital and skills to meet the needs of the fourth industrial revolution globally. We are looking forward to a long and successful collaboration with EIT InnoEnergy and the InnoEnergy Skills Institute," he added.

(Disclaimer: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

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