How do we replace fossil fuels? That is the big question. While intermittent renewables like solar and wind, when paired with batteries, are a popular fossil fuel alternative, the energy from the Earth's super-heated core is still largely untapped.
The fi‑compass Blog
Stories of how financial instruments have an impact on the ground
Founded in 2017, the Italian region of Lombardy’s AL VIA programme has taken important steps to help revive the regional economy in the wake of the financial crisis.
Support from an ERDF financial instrument has helped an Italian social cooperative in Emilia-Romagna cut its heating bills by 25% in a year, allowing it to spend more energy on people.
Thanks to an EAFRD Guarantee loan, Jason Ligas, a young wine producer based in Pella-Giannitsa, Northern Greece, could kick start his permaculture project and strengthen existing family vineyards.
The Greek EAFRD Guarantee Fund 2014-2020 set up with EUR 80 million from the European Agricultural Fund for Rural Development (EAFRD) and EUR 20 million from the European Fund for Strategic Investments (EFSI, Juncker Plan), has already helped hundreds of farmers in Greece to implement green projects while modernising their farms.
To fight the social and working exclusion of people with disabilities, Carlo Pepe, a Pescara born teacher created the social cooperative, Aurora "Valori & Sapori”.
Backed by a EUR 25 000 loan from the ESF Microcredit Fund Abruzzo, the social enterprise trains young adults affected by Trisomy 21 or autism in catering activities, preparing them for a stable job at the end of their studies.
Hydrogen power has been on the market for years but in an extremely limited capacity. The climate and geopolitical challenges of today’s world illustrate the urgency of developing hydrogen as a technology and support for this have never been stronger.
The ESSOR PME financial instrument featured at FI Campus 2019, has helped support the innovative local business, Datarocks.
Set up in 2014 in Sainte Marie, La Réunion, Datarocks develops and sells innovative IT solutions to help businesses transpose their raw data into interactive ergonomic dashboards. Thanks to a EUR 451 000 equity investment from the ESIF financial instrument, ESSOR PME La Réunion, the company has been able to grow and attract international customers such as Nokia or Thales.
In June 2019, the start-up benefitted from EUR 540 650 equity investment from Essor PME La Réunion, an ERDF financial instrument set up by the La Réunion region. The company will use the investment to strengthen its R&D and operational team, acquire additional equipment, and replicate its economic model outside La Réunion.