The Federal Participation and Investment Company (FPIC), Belgium’s "sovereign wealth fund", has been granted €250 million to invest in the ecological transition.
The funds, to be invested by the end of 2026, are part of the €750 million transformation fund that the government initiated during the Covid-19 crisis. FPIC’s investment, either through capital stake or loan, can range from €1 million to €25 million.
“The idea is not just to speed up the environmental transition, but also to boost the competitiveness of the Belgian industry and to develop new leaders in the ecological transition,” said Koen Van Loo, CEO of the FPIC. He added that the investments will make target operations under Belgian ownership with the intention of making them into international competitors.
Key challenges and priorities have been identified: reducing water consumption, waste production, greenhouse gas emissions, and water pollution. Particular attention will be paid to Belgium's major industries: namely the petrochemical sector, which plays a key role in Belgium's economy but also has a sizeable environmental footprint.
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FPIC has already approved its first investment in October, injecting €6 million into CE+T – an electronics manufacturer that provides technological products and solutions to industries in areas like energy conversion, public transport, green energy, and metal recycling.
Four other projects are due to receive a decision on FPIC spending in the coming weeks. Funds will also be put towards energy in general, agriculture, and households.
