NCBR, PFR and PFR Ventures together for green technology

The National Centre for Research and Development (NCBR), Polish Development Fund (PFR) and PFR Ventures have signed an agreement for the development of pro-ecological and pro-environmental technologies, to support the transformation of the Polish economy towards carbon neutrality. It is an important milestone in building a cooperation platform between the institutions that offer knowledge and capital for the different stages of development of an innovative project.

The joint initiative of NCBR, PFR and PFR Ventures, aims to make it easier for the entrepreneurs to develop projects that will create a positive impact on the climate and will help with the energy transition of Poland. The offer for the companies will consist of both capital and expertise in implementation of innovative technologies.

The National Centre for Research and Development is developing a number of initiatives supporting research on technologies that will benefit climate and environment protection. As of now, NCBR runs development programmes for green initiatives with a total value of almost PLN 600 m.

Wojciech Kamieniecki BEng, PhD, the director of NCBR, says “The agreement will help to harmonize pro-ecological initiatives of the public sector. Both PFR and PFR Ventures have a rich offer to support the development of green technologies. NCBR currently runs 9 programmes in an innovative formula, aimed at the development of new solutions and technologies that will help achieve the goals of the Green Deal.

European Innovation Council has already noticed and appreciated our actions. NCBR has been selected for the finale of European Innovation Procurement Awards. The next pillar of our green agenda is the programme New Technologies for Energy. We have an ambitious offer that supports energy transition. What we need now is an alignment of work and cooperation between the institutions that are active in this area. This cooperation will lead to the development of a comprehensive offer for supporting the development of green technologies.”

The projects supported by NCBR have a significant scientific value. They also have a business potential, that is worth keeping in the country, to foster the creation of new tech enterprises, research and development facilities and jobs for specialists in Poland. All of that to grow the economy competitiveness. To achieve that, NCBR, PFR and PFR Ventures, have signed an agreement that creates a foundation for further joint initiatives supporting the development of green technologies.

Polish Development Fund has been implementing the PFR Green Hub strategy for over two years. It includes investment in renewable energy sources and management of a fund that is dedicated for green technologies, as well as education programmes for early-stage entrepreneurs.

"We have launched PFR Green Hub to invest in renewable energy facilities to increase the usage of the green energy in Polish energy market. We are also aiming to develop a Polish value chain, by engaging as many Polish companies and innovators as possible in the energy transition. We have lots of talented scientists and engineers, as well as tech talent, who need the right work environment and a complete funding path, to develop innovative projects"

- says Bartłomiej Pawlak, vice-president of Polish Development Fund

The agreement sets the areas of a potential cooperation. The three parties will aim to create a complementary offer that will support the development of green technologies in Poland. As a result, entrepreneurs will find a public sector partner for every stage of the development. NCBR has unique expertise in supporting research and development, till a market launch of an emerging technology.

Business model verification and funding is a key moment for every R&D project. PFR Ventures plays an important role in this part, by investing in venture capital funds that invest themselves in enterprises with the highest potential for a rapid growth and winning the market. Under the PFR GreenHub FoF programme, the public investor wants to provide almost PLN 200 m to 3-4 funds. Private investors should provide at least the same amount of capital.

Małgorzata Walczak, Investment Director at PFR Ventures, says “We plan to invest in the first funds in the first half of 2022. We want to invest that PLN 200 m in people who already have experience in supporting innovative projects at an early stage. Poland still lacks funds that specialize in green technologies, and companies that want to develop them, at some point have to seek for capital abroad. Our initiative will change that.”

NCBR, PFR and PFR Ventures complement their competences, thus creating a complete path for the development of green technologies. Under the agreement, they will create an operational team that will react for the rapid changes in the economy, by creating specific tools and initiatives.