1.6 Former Swedish Energy Minster, Ibrahim Baylan, joins EIT InnoEnergy

After leaving frontline politics, in June 2022, former Swedish Minister of Energy, Ibrahim Baylan, swiftly announced he had taken on some significant new energy-related assignments. After confirming he had taken a seat on the battery company Ingrid Capacity's board, it was then revealed that he is stepping in as a strategic advisor at EIT InnoEnergy.

As well as being an early investor in the large green projects H2 Green Steel and Northvolt, EIT InnoEnergy’s Swedish portfolio includes the wave energy developer, Minesto, the technology company, C-Green Technology and the wave power company, Corpower Ocean.

Commenting on Ibrahim Baylan’s appointment, Kenneth Johansson, CEO of EIT InnoEnergy's operations in the Nordics, stated: "In order for our portfolio companies to grow and prosper, knowledge of both the industry and business development is required. It includes important aspects of public regulations, politics and social acceptance that we also need to work actively with. That's where Ibrahim's background fits in."

Kenneth added that Ibrahim’s background will help to determine targets for EIT InnoEnergy's future investments. "We are working to get new European industries to grow. Nothing will change there. We choose which small companies we believe can make a difference and invest early to instil confidence in existing industry and financiers to also invest."

I BRAHIM B Ayl A n Strategic Advisor of EIT InnoEnergy

I am very happy to be able to participate and help these companies. Not least considering everything that is happening in Europe. We have some challenges here at home, but it's a breeze compared to what it looks like in some countries in terms of energy supply.