MI 2.0 Boosts Clean Energy with $10.6B Investment

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 governments

1 Renewable energy, electricity transmission and distribution, energy storage, hydrogen, industry  decarbonization and biofuels

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, as countries unite to push the boundaries of clean  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.”