Sasol launches venture capital fund to advance decarbonisation ambitions

Rhea-AI Summary

Sasol has launched Sasol Ventures, a €50 million venture capital fund aimed at advancing its decarbonisation goals and achieving net-zero emissions by 2050. This fund, the largest of its kind in South Africa, will focus on investing in start-up and early-stage technologies that promote sustainable chemicals and energy solutions. Sasol has partnered with Emerald Technology Ventures to enhance its ability to identify and evaluate innovative opportunities. The initiative aligns with Sasol’s strategy to transform its operations towards sustainability, positioning the company to leverage emerging technologies for business growth.

Positive

• Launch of Sasol Ventures with €50 million investment to support decarbonisation and sustainability efforts.
• Partnership with Emerald Technology Ventures to expand innovation opportunities and technology evaluation.

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• None.

JOHANNESBURG--(BUSINESS WIRE)-- Sasol has announced that it has established Sasol Ventures to advance Sasol’s decarbonisation and 2050 net zero ambitions through venture capital. It will invest €50 million over the next five years, making it the largest chemicals and industry venture capital fund in South Africa.

Sasol 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. 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.

“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.

“Sasol Ventures is a new dynamic lever to our strategy to produce sustainable energy and chemicals products for a modern, thriving society. We look forward to leveraging our financial and intellectual capital through compelling and investable prospects that will create value for Sasol and our stakeholders,” added Hanré Rossouw, Group Chief Financial Officer of Sasol.

Sasol Ventures encourages start-ups and emerging entities to submit proposals to sasol@emerald.vc.

About Sasol:

Sasol is a global chemicals and energy company. We harness our knowledge and expertise to integrate sophisticated technologies and processes into world-scale operating facilities. We strive to safely and sustainably source, produce and market a range of high-quality products in 22 countries, preserving and creating value for stakeholders.

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm building a sustainable future at the crossroads of industry and technology. Founded in 2000, it is a pioneer in open innovation, providing multi-national corporations with rich deal flow and insight in the sectors and markets of tomorrow. Emerald has managed and advised assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm is dedicated to tackling big challenges in climate change and sustainability via over 500 venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups. For more information, please visit www.emerald-ventures.com.

Contact for Emerald: info@emerald-ventures.com

About Sasol’s Information Privacy Policy:

We wish to inform you about the processing of your Personal Information by Sasol South Africa Limited and your rights under applicable data protection law, as interpreted and included in Sasol Information Privacy Policy.

Within our company, only Sasol Group Media Relations will receive your Personal Information to fulfil the purpose of maintaining the relationship with the receiver in his/her capacity as a member of the media. You have the right to request for the correction or deletion of your Personal Information stored by us at address: Sasol Place, 50 Katherine Street, Sandton in Johannesburg. You also have a right to restrict the processing of your Information. To exercise your privacy rights or find out more about Information Privacy Policy, kindly contact our Privacy Office on: privacy@sasol.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230220005254/en/

Issued by:

Alex Anderson, Senior Manager: Group Media Relations and External Communication

Mobile : +27 (0) 71 600 9605; Email: alex.anderson@sasol.com

Matebello Motloung, Manager: Group Media Relations

Mobile: +27 (0) 82 773 9457; Email: matebello.motloung@sasol.com

Source: Sasol Chemicals

FAQ

What is Sasol Ventures and its purpose?

Sasol Ventures is a €50 million venture capital fund established by Sasol to enhance its decarbonisation efforts and achieve net-zero emissions by 2050.

How much money will Sasol invest in Sasol Ventures?

Sasol will invest €50 million in Sasol Ventures over the next five years.

Who is partnering with Sasol for Sasol Ventures?

Sasol has partnered with Emerald Technology Ventures to identify and evaluate investment opportunities.

What types of technologies will Sasol Ventures invest in?

Sasol Ventures will invest in start-up and early-stage technologies focused on sustainable chemicals and energy solutions.

What are Sasol's long-term environmental goals?

Sasol aims to achieve net-zero emissions by 2050 through various sustainability initiatives, including the establishment of Sasol Ventures.