EIT InnoEnergy and Siemens Energy to form a joint venture.

EIT InnoEnergy, an innovation engine for sustainable energy, and Siemens Energy, an energy technology company, agreed to form a joint venture. Financial terms were not disclosed. “Bringing together the disruptive thinking and innovations from cleantech start-ups and the global network and large-scale industrialization capabilities of Siemens Energy will create new value for our customers. To enable a just, fair and fast energy transition, partnerships, such as this one with EIT InnoEnergy, are key and an important part of our innovation strategy,” Vinod Philip, Siemens Energy Executive Board Member.