Energy giant Shell has announced a new $1.4 billion fund dedicated to investing in companies with innovative products for speeding up the energy transition.
Geert van de Wouw, the Manager Director of Shell Ventures, said in a LinkedIn post that the investment will be focused on areas like nature-based solutions, renewable energy, mobility and the circular economy, in line with the company’s own goal of becoming a net-zero emitter by 2050. He pointed out how Shell had been engaging with start-ups for decades, adding:
“Our unique approach to venturing, with a focus on technology deployment, has enabled many of our portfolio companies to develop strategic relationships with Shell businesses. A win-win in my book, as Shell gets accelerated access to innovative technologies and business models, while our portfolio companies are able to achieve scale.”
Shell Ventures, which will run the fund, was initially established in 1996 to fund businesses with innovative products for the gas and oil industry, but now, it is being expanded to cover ventures with business models that are disruptive and technological innovations that will help fast-track the energy transition. Its investment can reach $15 to $22 million over the course of the lifecycle.
Many other companies are increasingly recognising a need to develop a strategy to reach net-zero, and this inevitably includes the supply chain. At TrAchem, our team can help you to identify the right products for your own voluntary targets for emission cuts, such as Shell Omala S5 WIND, which is carbon-neutral gearbox oil.
