South African chemical substances and power firm Sasol has introduced that it has established Sasol Ventures to advance its decarbonisation and 2050 internet zero ambitions by way of venture capital.
The fund will pursue investments in start-up and early-stage applied sciences that may allow Sasol to fulfill the necessity for sustainable chemical substances and power options to decarbonise its enterprise, communities and markets it serves globally.
In a press release final week, the corporate said that it’ll make investments €50 million into the fund over the subsequent 5 years, making it the most important chemical substances and business venture capital fund in South Africa.
Sasol has partnered with Emerald Technology Ventures, a specialised world venture capital agency to allow Sasol Ventures to supply and consider alternatives with the target of rising a portfolio for the fund.
“Through the partnership, Sasol has also directly invested in Emerald’s global energy transformation fund to maximise its innovation opportunities. It will complement Sasol’s existing Research and Technology capabilities in sourcing and evaluating technologies and solutions,” mentioned Fleetwood Grobler, President and Chief Executive Officer of Sasol.
Greentech funding appears to be the brand new development in South Africa in the meanwhile. Recently, personal funding agency Grovest launched a photo voltaic funding fund that provides traders tax advantages when it comes to Section 12B of the nation’s Income Tax Act.
…. to be continued
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