“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,” said Patrick Pouyanné, chairman and CEO of Total. “Over five years, the $400mn fund will invest in start-ups whose technologies, or innovative solutions could contribute to carbon neutrality.”TCNV will invest globally, with teams based in Europe and the US, 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.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.