This financing will allow new technology to replace fossil-intensive energy generation. The organisation has joined forces with the European Investment Bank ( EIB ) and Breakthrough Energy Ventures to establish a € 100 m ( $ 150 m ) clean energy investment scheme . The EIB and Breakthrough will each contribute € 50 m to the scheme , which aims to support European entrepreneurs in the energy , transportation , agriculture , manufacturing and communications sectors . Investments are set to commence in early 2019 , with EU member states able to apply for funding under the organisation 's Horizon 2020 initiative .
The organisation has joined forces with the European Investment Bank ( EIB ) and Breakthrough Energy Ventures to establish a € 100 m ( $ 150 m ) clean energy investment scheme . The EIB and Breakthrough will each contribute € 50 m to the scheme , which aims to support European entrepreneurs in the energy , transportation , agriculture , manufacturing and communications sectors . Investments are set to commence in early 2019 , with EU member states able to apply for funding under the organisation 's Horizon 2020 initiative .