Fabio Lancellotti (Aster) speaking at VivaTech event
🌍 Europe’s key role: unleashing sustainable innovation
Europe possesses a wealth of skills and technologies that can drive sustainable innovation forward. However, the pace of change in Europe must be accelerated. Breakthrough Energy stressed the need for a Complexity Reduction Act, similar to the IRA in the US, to overcome the slow progress. Speed is relative, and Europe must rise to the challenge.
💪 Shifting ambitions: Breaking free from old dependencies
Transition away from Russian gas and the consequent emergence of new dependencies, such as China for solar panels and wind turbines, highlights the need for careful navigation as Europe charts its course. There needs to be an ambition to reduce vulnerability by avoiding over-reliance on few sources or countries.
💰 Unlocking technology advancement: Focusing joint efforts
While scaling existing technologies is crucial, it is equally vital to invest in the development of missing, breakthrough components. The main challenges lie in scaling renewable energy infrastructure, addressing long-term energy storage and the need for more substantial funding backing bold initiatives.
🃏 Looking into the next decades: Reshuffling the cards
The era of fossil fuels has defined a particular power paradigm, but the transition to alternative energy sources can reshape the dynamics in play. The global South possesses abundant solar and wind resources, as well as minerals, that should be strategically harnessed. However, as Europe strives for energy security, it must prioritize the creation of a robust and diversified infrastructure.
By embracing independence, building resilience, and unlocking technological advancement, Europe is poised to overcome the challenges of its energy transition and seize the opportunities that lie ahead.
Aster is a venture capital firm based in Paris. Since 2000, we have managed several generations of funds raised from major industrial and institutional groups. We have built our expertise in Climate Tech with investments in the mobility, energy and industry sectors in particular. We finance start-ups at all stages of development, preferably from seed phase, and choose entrepreneurs who make the fight against climate change a priority mission of their projects. EkWateur (energy supplier that aims to accelerate the energy transition, sold in 2022) or Betterway (pioneer in the employee mobility solutions, sold to Edenred) are among our most recent success stories.
More broadly, Aster acts as a catalyst for its ecosystem, with Aster Class, a training organization that provides a framework for the dissemination of Aster’s expertise, and Aster Fab, a new kind of consulting firm unlocking the net zero transformation of hard-to-abate sectors by tapping into the startup gold mine.