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Here I'm going to introduce you to an Italian energy company, Enel.
Enel is one of the largest energy utilities in Europe, with more than $86 billion in 2019,
and more than 69,000 employees worldwide.
This very large energy utility has embraced open innovation in a very interesting way.
One thing Enel did, back in 2014, was to spin off a subsidiary company called Enel Green Power.
This spin-off allowed Enel to focus all of its renewable energy activities that were spread
across many parts of the company, and bring them together in one place,
in a separately capitalized company, that traded on the stock market itself.
This provided a lot of focus for these activities, and it allowed a new management team
to emerge from within the company.
Today, Enel has coined a new term called 'Open Innovability',
this is the combination of open innovation and sustainability.
Ernesto Ciorra, shown here, is the person responsible for innovation at Enel.
They are aiming their open innovation activities squarely at initiatives
to enhance environmental sustainability.