Evonik invests in Emerald Cleantech Fund

Evonik invests in Emerald Cleantech Fund

12:32 PM, 15th January 2013
Evonik invests in Emerald Cleantech Fund

ESSEN, GERMANY: Evonik Industries strengthens its Corporate Venturing activities with an investment in the Cleantech Fund III of Emerald Technology Ventures, headquartered in Zurich, Switzerland. Emerald invests in early and expansion stage companies in the energy, water, and materials sectors with particular focus on Europe and North America.

Through the investment in Emerald, Evonik gains access to innovative start-up companies with disruptive technologies in new materials and specialty chemicals including energy technologies and resource efficiency. Evonik Corporate Venturing plans to invest up to €100 millions in promising start-up companies with break-through technologies and leading specialized venture capital funds.

“With our investment in Emerald, we have a strong partner with a proven track record and with immediate relevance to our own business activities. Partnering with innovative start-up companies supplements our approach of open innovation and creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields,” explained Dr Bernhard Mohr, Head of Corporate Venturing, Evonik.

© WOC News



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