Total offers $400 million global venture fund carbon neutrality

Total offers $400 million global venture fund to carbon neutrality

9:11 AM, 24th October 2019
Total logo

PARIS, FRANCE: Total said that it will focus its global venture fund on fostering carbon neutrality. The fund will increase its capital to a cumulative $400 million within five years’ time. Its investments will support start-ups that develop innovative technologies and solutions which help companies to reduce their energy consumption or the carbon intensity of their activities. The fund will be known as Total Carbon Neutrality Ventures (TCNV).

TCNV will invest globally, with teams based in Europe and the U.S., focusing on the areas such as smart energy, energy storage, smart mobility, bioplastics and recycling.

The fund builds on Total Ventures’ existing portfolio of 35 global start-ups that directly and indirectly contribute to carbon neutrality. That portfolio includes Solidia, Sunfire, Scoop, Shyft Power Solutions, Ionic Materials, MTPV, AutoGrid, Stem and OnTruck.

“The Total Carbon Neutrality Ventures fund will fully support Total's ambition to become the responsible energy major. It will allow us to expand the reach of our low carbon- businesses beyond our own borders. Over five years, the $400 million fund will invest in start-ups whose technologies or innovative solutions could contribute to carbon neutrality,” said Patrick Pouyanne, Chairman and CEO of Total.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Neste, Remondis partner on chemical recycling of plastic waste

ESPOO, FINLAND: Neste and Remondis have signed an agreement to collaborate in the development of chemical recycling of plastic waste. The compani ...

Read more
Indian start-up turns 150 tonnes of plastic waste into low-cost fuel

CHENNAI, INDIA: A single piece of plastic takes hundreds of years to decompose posing a threat to land and water. While it is not feasible to complete ...

Read more
Linde acquires minority stake in ITM Power, agrees joint venture

GUILDFORD, UK: Linde has acquired a minority stake in ITM Power plc, a British manufacturer of polymer electrolyte membrane (PEM) electrolyzers for th ...

Read more
McDermott wins contract for mixed feed cracker in Saudi Arabia

HOUSTON, US: McDermott International Inc has been awarded a large contract by Saudi Aramco and Total Raffinage Chimie (Total). McDermott will provide ...

Read more
Pfeiffer Vacuum inaugurates new plant in Wuxi, China

ABLAR, GERMANY: Pfeiffer Vacuum, one of the world’s leading providers of vacuum solutions, has expanded its facility in Wuxi, China with a grand ...

Read more
Scientists develop “Artificial Leaf” that produces clean fuel, could replace petrol

CAMBRIDGE, UK: A widely-used gas that is currently produced from fossil fuels can instead be made by an ‘artificial leaf’ that uses only s ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X