Sasol launches venture capital fund to advance decarbonisation ambitions
JOHANNESBURG, February 21, 2023--(BUSINESS WIRE)--Sasol has announced that it has established Sasol Ventures to advance Sasol’s decarbonisation and 2050 net zero ambitions through venture capital. It will invest €50 million over the next five years, making it the largest chemicals and industry venture capital fund in South Africa.
Sasol has partnered with Emerald Technology Ventures, a specialised global venture capital firm to enable Sasol Ventures to source and evaluate opportunities with the objective of growing a portfolio for the fund. Through this partnership, Sasol has also directly invested in Emerald’s global energy transformation fund to maximise its innovation opportunities. It will compliment Sasol’s existing Research and Technology capabilities in sourcing and evaluating technologies and solutions.
The fund will pursue investments in start-up and early-stage technologies that will enable Sasol to meet the need for sustainable chemicals and energy solutions to decarbonise its business, communities and markets it serves globally.
"We are very excited with the prospect of Sasol Ventures playing a key role in our decarbonisation ambitions. As the world accelerates its energy systems towards more sustainable systems through emerging and disruptive technologies, Sasol Ventures places us in a position to access technology opportunities that will contribute to transforming our business," said Fleetwood Grobler, President and Chief Executive Officer of Sasol.
"Sasol Ventures is a new dynamic lever to our strategy to produce sustainable energy and chemicals products for a modern, thriving society. We look forward to leveraging our financial and intellectual capital through compelling and investable prospects that will create value for Sasol and our stakeholders," added Hanré Rossouw, Group Chief Financial Officer of Sasol.
Sasol Ventures encourages start-ups and emerging entities to submit proposals to email@example.com.
Sasol is a global chemicals and energy company. We harness our knowledge and expertise to integrate sophisticated technologies and processes into world-scale operating facilities. We strive to safely and sustainably source, produce and market a range of high-quality products in 22 countries, preserving and creating value for stakeholders.
About Emerald Technology Ventures
Emerald is a globally recognized venture capital firm building a sustainable future at the crossroads of industry and technology. Founded in 2000, it is a pioneer in open innovation, providing multi-national corporations with rich deal flow and insight in the sectors and markets of tomorrow. Emerald has managed and advised assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm is dedicated to tackling big challenges in climate change and sustainability via over 500 venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups. For more information, please visit www.emerald-ventures.com.
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