Sasol launches enterprise capital fund for greentech startups

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 means of enterprise capital.

The fund will pursue investments in start-up and early-stage applied sciences that can allow Sasol to satisfy the necessity for sustainable chemical substances and power options to decarbonise its enterprise, communities and markets it serves globally.

In an announcement final week, the corporate acknowledged that it’ll make investments €50 million into the fund over the following 5 years, making it the most important chemical substances and trade enterprise capital fund in South Africa.

Sasol has partnered with Emerald Know-how Ventures, a specialised world enterprise capital agency to allow Sasol Ventures to supply and consider alternatives with the target of rising a portfolio for the fund.

“Via the partnership, Sasol has additionally instantly invested in Emerald’s world power transformation fund to maximise its innovation alternatives. It’ll complement Sasol’s present Analysis and Know-how capabilities in sourcing and evaluating applied sciences and options,” stated Fleetwood Grobler, President and Chief Government Officer of Sasol.

Greentech funding appears to be the brand new development in South Africa for the time being. Lately, personal funding agency Grovest launched a photo voltaic funding fund that provides buyers tax advantages by way of Part 12B of the nation’s Revenue Tax Act.