Sasol has created Sasol Ventures (SV) to facilitate its decarbonisation and 2050 net zero ambitions, with the aim of reducing (by 30%) its scope 1 and scope 2 emissions from its energy and chemicals business by 2030.
Through a partnership with Emerald Technology Ventures, a VC firm that invests in sustainable industrial companies, SV plans to invest EUR 50mn in early-stage technologies over five years, making it the largest chemicals and industry VC fund in South Africa. Emerald will act as exclusive investment adviser to SV, managing the entirety of the VC firm’s CVC activity through its CVC-as-a-service model. It will seek deals in emergent fields such as industrial process, electrification and renewable hydrogen. Sasol has also invested in ETV’s global transformation fund, which complements the South African company’s existing research and technology capabilities.
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 .
FLEETWOOD GROBLER, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF SASOL
ETV was founded in 2000 and has managed advised assets of over EUR 1bn from its offices in Zurich, Toronto and Singapore. It has made over 500 venture transactions and five third-party investment mandates.