At InnoEnergy’s Business Booster in Lisbon, 174 startups showcased bold clean energy innovations amid shifting investment trends, AI-driven demand, and a renewed call for diversity.

Europe’s cleantech scene is heating up again — even as global uncertainty looms. Venture and growth capital may have fallen nearly 18% in early 2025 to €1.8 billion, yet optimism filled the air at The Business Booster (TBB) by InnoEnergy in Lisbon. Now in its 13th year, the event drew 1,700 participants from 52 countries, spotlighting 174 startups and over 3,500 business meetings — all focused on building a cleaner, smarter, and more sustainable Europe.

A Turning Point for Europe’s Clean Energy Market

As the US cleantech sector cools, European startups are seizing the moment. With fewer incentives and grant-heavy business models struggling across the Atlantic, investors are turning their gaze eastward.

“We saw the US market… suddenly stop,” said Elena Bou, co-founder and Innovation Director at InnoEnergy, in an exclusive conversation with TFN. “So the good opportunity for Europe has been to attract US capital to the European ecosystem.”

Even with growing interest, raising funds isn’t easy. “The market takes a longer time now than it did a couple of years ago,” shared Olivia Nestius, CEO of Graphmatech. Fundraising periods stretch 12 to 18 months, a sign that while liquidity exists, investors are moving cautiously.

The AI Boom Powering Energy Innovation

The biggest surprise? AI-powered data centres are now driving the next wave of cleantech adoption. “Data centres are the new market,” Bou explained. “They’re driving energy demand and will increasingly become customers for the technologies showcased here.”

That demand is already paying off. Spanish firm Sunwafe secured €670 million to produce silicon wafers for up to 20 GW of photovoltaic panels, while FertigHy — a €1.3 billion green hydrogen and fertiliser initiative backed by InnoEnergy and Heineken — aims to decarbonise European agriculture.

In Barcelona, Candam Technologies is transforming waste management through modular recycling systems that use traceability and behavioural data to track who recycles what, where, and when. Meanwhile, Energiot is protecting wildlife and power infrastructure with AI-enabled cameras that detect and deter birds from landing on high-voltage lines — a surprisingly big issue for utility companies.

Across the event floor, startups showcased breakthroughs in battery reuse, silicon energy storage, offshore wind, wind turbine recycling, and carbon capture — all designed to push Europe’s clean energy goals closer to reality.

Tackling Cleantech’s Diversity Challenge

Despite the innovation surge, one number stood out — and not for the right reasons. Only 6% of European cleantech founders are women.

At InnoEnergy, that figure rises to 11%, thanks to programs that have already supported 2,500 female founders and entrepreneurs. Bou emphasized that gender isn’t the issue — visibility and access are. “In terms of competencies, the female entrepreneur and the male entrepreneur are no different,” she said. The real barriers are structural biases, limited networks, and fewer role models.

“It’s not about complaining,” she added. “It’s about taking action — making female leaders visible, facilitating funding, and offering real support.”

The Road Ahead

With its new 2030 Vision announced at TBB 2025, InnoEnergy is setting bold targets: mobilising €160 billion in investment, reducing 2.3 gigatons of CO₂, and aligning Innovation + Investment + Industry = Impact.

The message is clear — Europe’s cleantech revival isn’t just about technology. It’s about transforming how we live, work, and power our future.

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