Support CleanTechnica's work through a Substack subscription or on Stripe. Lyten announces it has completed the acquisition of Northvolt Dwa in Gdańsk, Poland, the largest Battery Energy Storage System (BESS) manufacturing facility in Europe. Lyten is immediately restarting production and product development from Northvolt Dwa and targets sales before year ... [continued]
And 1B€ is kind of nothing for a country and even less for EIB. That would be equivalent of a normal person investing less than 1000€ into a business (didn’t do the math but the exact numbers don’t really matter).
Of course I don’t think the EIB and governments should spend huge amounts of money into crazy ideas but some projects are too big and takes too long time for any company to invest in it. ITER (fusion power) is one example and nuclear power was probably equally risky in the 1950s. It is still better to invest some money into things that can be beneficial for us in the future than never dare to do anything, if you ask me.
And 1B€ is kind of nothing for a country and even less for EIB. That would be equivalent of a normal person investing less than 1000€ into a business (didn’t do the math but the exact numbers don’t really matter). Of course I don’t think the EIB and governments should spend huge amounts of money into crazy ideas but some projects are too big and takes too long time for any company to invest in it. ITER (fusion power) is one example and nuclear power was probably equally risky in the 1950s. It is still better to invest some money into things that can be beneficial for us in the future than never dare to do anything, if you ask me.
Soooo… Of 1B€ is nothing, will the new owner pay it back?
Every European country is rolling back social progresses from the last 60y. Reducing support to existing companies.
So, while 1B€ is “nothing”, it should not happen.