EIT InnoEnergy announces appointment of first US CEO Ryan Dings

Leading global energy investor and Europe’s driving force behind industrial scale-ups announces  strategic new hire as part of its expanded presence in transatlantic markets. 

Boston, July 11 2024: Today, EIT InnoEnergy, the driving force behind Europe’s leading Industrial  Unicorns and their commitment to achieving net-zero goals, is pleased to announce Ryan Dings as the  new CEO for the US market. This appointment marks a pivotal moment as the organization  accelerates its initiatives in the US, aiming to transfer its industrial expertise to foster the growth of  scale-ups in the region. This strategic move is poised to generate employment, address market needs,  and catalyze advancements toward a net-zero industrial sector. 

Dings, who brings more than 15 years of cleantech experience to the position, will be responsible for  leading the US market for EIT InnoEnergy and growing the Boston-based team. He will play a major  role in US investment portfolio identification and growth; as well as creating a fertile environment for  knowledge, innovation, industrialization and investment collaboration with the European market.  

Elena Bou, Innovation Director and Co-Founder of EIT InnoEnergy, commented: “Since 2010, we have  been on a mission to reach net-zero goals and through this commitment we have been listed as the  most active global energy investor for the third consecutive year. We already play a leading role in  decarbonizing industrial value chains in strategic sectors including battery storage, green hydrogen,  and solar photovoltaics in Europe – so we are well positioned to bolster US industrial policy initiatives  aimed at advancing net-zero objectives.  

“Our strategy is designed to identify, support, and scale the most promising innovations in clean  energy technologies, ensuring they make a significant impact on the market. Our portfolio of over 200  companies is estimated to generate $118.5 (€110) billion in revenue and have raised more than $26.9  (€25) billion in investment to date. Ryan's appointment will enable EIT InnoEnergy to act as a  transatlantic bridge, facilitating capital flow and knowledge sharing to empower both European and  US industrial startups to scale, meeting the needs of the US market." 

Dings’ unique combination of expertise is highly applicable to the role. He most recently served as the  founding CEO of ClimateHaven, the Yale-backed climatetech incubator in New Haven, CT, and venture  partner at Connecticut Innovations’ $100 million ClimateTech Fund. Before that, he led Greentown  Labs, North America’s largest climatetech incubator, through a period of significant growth as its COO  and General Counsel. He held the same title at Sunwealth, a Boston-based clean energy investment  firm, where he helped launch the firm’s project-finance focused Solar Impact Fund. A real estate  lawyer by training and an operator in multiple startups, his collective experience gives him an  understanding of what it takes to invest in, support, and scale compelling clean technologies.  

Ryan Dings commented: “We have a handful of decades to build a thriving regenerative economy to replace centuries of extractive economic activity. Climate change is the challenge of our lifetime. And  potentially, one of our greatest economic opportunities. It will foster innovation and investment in  abundance if we can harness the right skills, entrepreneurs and technology to scale at unprecedented  levels and meet industrial policy targets.

“As the saying goes, ‘the whole is greater than the sum of its parts’. So why, when Europe and the US  represent such a significant share of the world’s cleantech innovation, are we not collaborating  between markets and multiplying progress? The time is now. In my role I look forward to building a  strong bridge between the US and Europe, that sees investment, knowledge and innovation travel  back and forth as part of a new symbiotic relationship,” continued Dings.  

The hire coincides with a marked increase in focus on the US market from EIT InnoEnergy, with a  mandate to grow rapidly in the coming year, building upon its initial support to startups and investors  since its entry to the US in 2020. Its US team will be based in the Boston area, and alongside its  purpose as an investment office, it will also serve as a hub for European companies arriving in the US  looking to scale their offerings.  

The appointment comes after a series of major growth milestones for EIT InnoEnergy, including its  announcement late last year of the completion of a €140 million funding round, with new and existing  investors.  

EIT InnoEnergy will host its first ‘Transatlantic Cleantech Summit’ on September 18 at The Engine in  Cambridge, Massachusetts. Mr. Dings will join industry stakeholders, policymakers, investors, and  entrepreneurs to exchange ideas, share insights, and create connections that will build a robust  bridge for technology, capital, and talent between the U.S. and Europe. Event information and  registration can be found here.  

About EIT InnoEnergy

EIT InnoEnergy operates at the centre of the energy transition and is the leading innovation engine  in sustainable energy. It brings the technology, business model innovation and skills required to accelerate the green deal, progress towards Europe’s decarbonisation and re-industrialisation  goals, whilst also improving energy security.  

Recognised as Europe’s top Cleantech and Blue Economy venture capital firm and investor in 2023  by Startup Genome, one of Europe’s top 10 most active deeptech investors by Sifted in 2023 and  the most active investor in the energy sector in 2022 by Pitchbook, InnoEnergy backs innovations across a range of areas.These include energy storage, transport and mobility, renewables, energy  efficiency, hard to abate industries,smart grids and sustainable buildings and cities.

InnoEnergy has a portfolio of more than 200 companies, which are estimated to generate €110  billion in revenue and save 2.1G tonnes of CO2e accumulatively by 2030. Collectively, these  companies have raised more than €25 billion in investment to date.

InnoEnergy is the driving force behind three strategic European value chain initiatives which include the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Center (EGHAC) and the European Solar Photovoltaic Industry Alliance (ESIA).

InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union. Since its inception, InnoEnergy has screened more  than 7,000 start-ups, launched more than 300 products to market and overseen its portfolio companies filing 370+ patents. Today, InnoEnergy has a trusted ecosystem of 1200+ partners and 35  shareholders and a 200+ strong team with offices across Europe and in Boston, US. www.innoenergy.com

Go back