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OMV Petrom and the European Innovation Council explored innovative energy solutions at the EIC Corporate Days event

  • 22 companies participated in the EIC Corporate Days event with OMV Petrom

OMV Petrom, the largest energy company in South-Eastern Europe, and the European Innovation Council (EIC), the European Union's flagship innovation programme, organized the „EIC Corporate Days with OMV Petrom" event on January 26-27 – the first one with a Romanian corporation. During the event, 22 European SMEs presented innovative solutions that address the goals of the climate agenda in energy production and distribution.

Christina Verchere, CEO of OMV Petrom: “The energy sector is going through a period of profound transformation and companies need to respond to both a constantly growing energy demand as well as to greenhouse gas emission reduction targets. We are interested in projects and ideas that could contribute to the energy transition."

Jean David Malo, director of the EIC and the SMEs Executive Agency (EISMEA): “This successful cooperation between OMV Petrom and the EIC is proof that Europe has the talent, inspiration and capacity to grow innovative companies with high impact solutions that make a positive difference in millions of people’s lives every day. We truly believe this EIC Corporate Day is a new great opportunity for all and another important landmark in the long-lasting collaboration with OMV Petrom that we highly appreciate, and which brings a great deal of business opportunities.”

The companies registered at EIC Corporate Days with OMV Petrom come from 15 European countries and applied to a call for innovative projects in the energy field, initiated by EIC in November last year. They were pre-selected out of more than 40 companies that submitted proposals in the initial call for projects. In the process of selecting the SMEs, the aim was that the proposed solutions should be ready to be implemented in the business area. The assessment process took into account the degree of digitalization and innovation as well as their potential to reduce greenhouse gas emissions.

The participating SMEs had access to thematic trainings and presented the solutions in view of potential collaborations with OMV Petrom. 

The areas of interest for OMV Petrom include innovative energy storage solutions, circular economy technologies, new technologies for solar photovoltaic systems, carbon capture and storage projects and / or in combination with blue hydrogen production, non-classical geothermal solutions for the generation of energy and the production of turquoise hydrogen resulting from the pyrolysis of methane.

About the European Innovation Council

The European Innovation Council (EIC) supports top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally.

The European Innovation Council is a key novelty of Horizon Europe and represents the most ambitious innovation initiative that Europe has taken, with a budget of €10.5 billion during 2021-2027. Support to innovators, entrepreneurs, small companies and scientists under the European Innovation Council goes far beyond a grant provision.

The EIC offers several business acceleration services that help speed up the pace of innovation, including business coaching and flagship services like EIC Corporate Days and EIC Investor Days, where highly innovative SMEs can take advantage of pitching and partnering opportunities with investors and corporates. In addition, the EIC has recently launched the EIC Greenhouse Gas (EIC GHG) programme, where SMEs receive expert support and guidance to reduce their greenhouse gas emissions and co-create green innovations.

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 787 filling stations, at the end of September 2021, under two brands – OMV and Petrom.

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, Fondul Proprietatea holds 3%, and 25.4% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with contributions of approximately 32 billion euro in taxes and dividends paid between 2005 and 2020.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2020, the company has allocated approximately 72 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.