Sasol Launches VC to Advance Decarbonisation Goals
Sasol Ventures has been established to advance Sasol's decarbonisation and 2050 net-zero aspirations through venture capital (VC). It will invest €50 million over the next five years, making it South Africa's largest chemicals and industry venture capital fund.
Sasol Ventures has collaborated with Emerald Technology Ventures, a specialised worldwide venture capital firm, to identify and analyse opportunities for the fund's portfolio. Sasol has also invested directly in Emerald's global energy transformation fund as part of this collaboration to maximise its innovative prospects. It will supplement Sasol's existing research and technology skills in finding and evaluating technology and solutions.
The fund will invest in start-up and early-stage innovations that will enable Sasol to fulfil the need for sustainable chemicals and energy solutions to decarbonise its business as well as the communities and markets it serves internationally.
“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 in our strategy to produce sustainable energy and chemical 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.