10.6B$ for Clean Energy Innovation: MI Governments increased their investment in the first year of MI 2.0.

-Analytics by the International Energy Agency (IEA) show that Mission Innovation members (23
governments and the EU) increased their investments in priority areas for clean energy innovation by 0.75B$ (7%) in the first year of MI 2.0 (2021-2022).
– In 2022, MI Members invested 10.6B$ in some of the highest priority areas for clean energy innovation.
– MI’s public-private Missions are working to stimulate further investment and advance innovation in key areas, including renewable energy and power technologies, hydrogen, industrial
decarbonization, biofuels and biorefineries, shipping, carbon dioxide removal, and clean energy solutions for urban environments.
– Whilst investment has increased, more is needed. MI Missions call on organisations from around the world to join them in taking action in these areas.
Goa, India – For the eighth time, the members of Mission Innovation( 23 countries & the European Commission) are coming together for the Ministerial, which traditionally takes place together with the Clean Energy Ministerial (CEM). This year, the MI & CEM Ministerial
(CEM14/MI-8) is hosted by India, back-to-back with the G20 Energy Ministerial meeting.Numerous announcements from the seven MI Missions and the launch of the MI Think Tank underline the action-oriented focus and impact of the global initiative.Furthermore, Mission Innovation (MI) is proud to announce a significant increase in investment from its members in priority areas for clean energy innovation 1.According to
the latest analytics by the International Energy Agency (IEA), a valued partner of Mission Innovation, MI members have collectively increased their investments by 7% (0.75 billion US Dollars) since the launch of MI 2.0 in 2021. The increase in investment underscores the importance place by governments on addressing the hardest-to-abate sectors and driving
innovation in these areas.“The increased spending on clean energy research and development by Mission Innovation
members highlights the growing momentum behind the new energy economy.” said Dr.Fatih Birol, Executive Director of the International Energy Agency (IEA) “But much more still
needs to be done to move the global energy sector towards net zero emissions and limit global warming to 1.5 °C.”
Through public-private innovation alliances, so called “Missions”, MI tackles critical sectors that are essential for a decarbonized future. These Missions focus on the following areas;
net-zero industries, green-powered futures, clean hydrogen, carbon dioxide removal, zero-emission shipping, urban transitions, and integrated biorefineries.
“Mission Innovation members have demonstrated their commitment to accelerating clean energy innovation by increasing investment in priority areas,” said Rosalinde van der Vlies,
Vice Chair of the MI Steering Committee and Director of DG Research and Innovation at European Commission of Mission Innovation. “We call on organizations and government worldwide worldwide to join us in our ambitious efforts to tackle the hardest to abate sectors and drive innovation.”
During the 8th MI Ministerial (MI-8), taking place from 19-22 July in Goa, India, MI is demonstrating progress with its flagship initiatives and new projects:
• The Green Powered Future Mission identified 80 ongoing and planned pilot projects that use up to 80% variable renewable energy and announced a multilateral research programme with the European Union’s Clean Energy Transition Partnership.
• The Clean Hydrogen Mission reported they are over 80% of the way to meeting their target of identifying 100 hydrogen valley projects by 2024 that can be implemented by 2030.
• The Urban Transitions Mission brokered over 25 new pilot projects to test sustainable energy solutions in urban environments.
• The Net-Zero Industries Mission announced the inaugural Net-Zero Industries Award,to recognize outstanding projects and individuals in the effort to decarbonize industry.
• The Carbon Dioxide Removal Mission released a beta version of the CDR Mapping Initiative, a first step in enhancing geospatial data for CDR.
• The Integrated Biorefineries Mission announced plans to deliver joint funding
programs, beginning with a new collaboration between India and the European Union to advance bio-refineries, biofuels, bio-chemicals, and biomaterials.Meanwhile, MI also launched the MI Think Tank to supercharge knowledge sharing and
dissemination on high-impact clean energy RD&D topics among the MI community and beyond. Through a programme of member-driven events, the Think Tank will accelerate
collaboration and best-practice exchange between members and partners on cross-cutting issues related to the successful design and implementation of clean energy innovation policies, programs, and collaborations. The Think Tank will share outcomes and learnings
from its activities broadly, where all members of the clean energy community can benefit.Julie Cerqueira, Chair of the MI Steering Committee & Principal Deputy Assistant Secretary, U.S.
Department of Energy, Office of International Affairs, said: “This year’s ministerial in Goa marks a pivotal moment in our global effort to transition to clean energy and fight climate change. This progress echoes the spirit of collaboration and determination,energy research and development. By driving forward this innovation, our members strive to unlock the potential of these breakthrough technologies which will pave the way for a sustainable and prosperous future for all.”
Dr. Eleanor Webster, Head of MI Secretariat said: “Mission Innovation is committed to fostering collaboration, sharing knowledge, and accelerating the global transition to a clean energy future. The calculations by our valued partner IEA show that together our member countries are making significant
strides towards achieving our common goal of net zero.”Francesco la Camera, Director General of IRENA, said: “The upcoming MI Ministerial serves as a critical platform for scaling up collaboration on the most effective energy transition strategies that can help us overcome existing barriers to progress. We look forward to contributing to the meetings with IRENA’s new Innovation Landscape report, which identifies 100 innovations for countries to smartly electrify energy
demand and achieve their national energy transition goals.”Ann Mettler, Vice President, Europe of Breakthrough Energy, said: “The need for public and private sector collaboration has never been greater. Mission Innovation is facilitating dialogue on the importance
of a supportive policy environment that can unlock private sector funding for critical early-stage innovation and R&D. Both are essential to building best practices across borders and ultimately driving down emissions so we can meet our net zero goals.”