Evonik invests in Emerald Cleantech Fund III
Evonik Industries strengthens its Corporate Venturing activities with an investment in the Cleantech Fund III of Emerald Technology Ventures, headquartered in Zurich (Switzerland). Emerald invests in early and expansion stage companies in the energy, water, and materials sectors with particular focus on Europe and North America. Through the investment in Emerald, Evonik gains access to innovative start-up companies with disruptive technologies in new materials and specialty chemicals including energy technologies and resource efficiency. Evonik Corporate Venturing plans to invest up to € 100 millions in promising start-up companies with break-through technologies and leading specialized venture capital funds.
"With our investment in Emerald, we have a strong partner with a proven track record and with immediate relevance to our own business activities" explained Dr. Bernhard Mohr, Head of Evonik Corporate Venturing. "Partnering with innovative start-up companies supplements our approach of open innovation and creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields."
"For more than a decade we have been a trusted partner for corporate investors and we look forward to working closely with Evonik, a world class specialty chemical company," commented Gina Domanig, Managing Partner at Emerald. "Emerald portfolio companies leverage our relationships with these multinational players for quick technology adoption, joint development of products & services, and international market access."
Investments in specialized Venture Capital Funds in addition to direct investments are an important part of the strategy of Evonik to cover the most important technologies and regions worldwide. In 2012 Evonik invested in the High-Tech Gründerfonds II, Germany’s leading cross industry seed-stage investor and the North-American Pangaea Ventures Fund III, which is focused on new materials and specialty chemicals.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2011 more than 33,000 employees generated sales of around €14.5 billion and an operating profit (adjusted EBITDA) of about €2.8 billion.
About Emerald Technology Ventures
Emerald Technology Ventures is a globally recognized investor in the areas of energy, water and materials. Founded in 2000, Emerald has been a venture capital pioneer in these industrial sectors and invested in fifty companies to date. From offices in Zurich, Switzerland and Toronto, Canada, Emerald manages three venture capital funds and two venture capital portfolio mandates totaling over EUR 340 million (USD 440 million). Fund investors include leading financial institutions and multinational corporations.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.