EIT InnoEnergy, a knowledge and innovation platform for sustainable energy within the European Institute of Innovation and Technology (EIT), is investing in the start-up Nevomo, which is a developer of the hyperloop-technology inspired magnetic levitation system MagRail. Nevomo aims to upgrade conventional rail infrastructure to enable speeds of up to 550 km/h. EIT InnoEnergy’s investment is part of a €5 million bridge round with Hutter Private Equity, ValueTech Seed, and Seedrs which was agreed earlier in 2022.
