Sasol, a South Africa-based chemicals and energy company has launched Sasol Ventures, a venture capital fund focused on advancing its decarbonisation and net-zero goals by investing in start-ups and early-stage technologies.
The company 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.
“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.
The company will commit €50 million to the fund over the next five years, making it the largest chemicals and industry venture capital fund in South Africa.
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.
The move reflects a growing trend of greentech investment in South Africa. Recently Private investment firm Grovest launched a solar investment fund that offers tax benefits to investors under the country’s Income Tax Act. Sasol’s initiative underlines the corporate sector’s growing commitment to decarbonisation and net-zero goal
