OMV Petrom joins The Black Sea ClimAccelerator, a program dedicated to green start-ups
OMV Petrom, the largest integrated energy company in South-Eastern Europe, supports Black Sea ClimAccelerator, a program dedicated to financing start-ups that innovate for a more sustainable future. The program will support some of the most promising startups in Romania and Bulgaria. They will receive funding of up to 300 thousand euros for the implementation of the proposed solutions, as well as mentoring, specialized consultancy and training for attracting investments. Eligible solutions in the Black Sea ClimAccelerator can address topics such as supporting the circular economy through technology, carbon reduction solutions, green technologies for a cleaner environment, waste management and others.
"We are glad that we can get involved in such a promising project as Black Sea ClimAccelerator. We are convinced that new green technologies will play a key role in building a sustainable and low-carbon future. With the launch of our 2030 Strategy, around 35% of our total investments of more than €11 billion will go to low and zero-carbon solutions. We hope to see as many projects as possible for a cleaner future, developed within such accelerators", said Christina Verchere, OMV Petrom CEO.
The Black Sea ClimAccelerator programme is organized by Impact Hub Bucharest, The Climate Vertical, and Innovation Starter in Bulgaria, with the support of EIT Climate-KIC, which is the largest public-private innovation partnership in Europe. ClimAccelerator is the most important European accelerator supporting the fight against climate change through the development of the cleantech field.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 47 million boe in 2021. 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 more than 780 filling stations under two brands – OMV and Petrom.
OMV Petrom shares are traded on the Bucharest Stock Exchange and the London Stock Exchange. 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, and 28.4% is owned by natural and legal persons.
OMV Petrom is the largest contributor to the state budget, with approximately 35 billion euro in taxes and dividends paid between 2005 and 2021. During the same period, the company invested approximately 17 billion euro.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2021, the company has allocated over 80 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.