GDF SUEZ launches €100 million investment fund to finance innovative energy startups
GDF SUEZ is launching GDF SUEZ New Ventures, an investment fund to provide financing by the Group for innovative startups.
The €100 million fund is part of the new GDF SUEZ endeavor to support innovation and develop new business in the energy sector undergoing rapid changes. The fund will be headed by Jean-Louis Blanc, member of the GDF SUEZ Executive Committee and Commercial Director for the Group’s Innovation and Group New Businesses division.
The main objective of the fund is to support innovative, value-generating startups (new technologies, business model, etc.) likely to provide innovative services applicable to the energy transition. The fund will first focus on Europe, North America, Asia, and Israel, and will eventually have a global reach.
The targeted sectors are: energy control and load management, cities, regions and mobility, indoor comfort and decentralized power production and storage. GDF SUEZ selection process is based on strict financial criteria that may lead to taking a minority equity stake in qualifyed startups.
GDF Suez develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.