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PARIS, November 06, 2024--(BUSINESS WIRE)--Regulatory News:
On the occasion of the Smart City World Expo Congress of Barcelona, Veolia (Paris:VIE) is announcing a €30 million commitment to the Axeleo GreenTech Industry (GTI I) fund, aimed at accelerating the ecological transformation of industry in Europe. Veolia has joined forces with Bpifrance and Crédit Mutuel Alliance Fédérale for this 1st closing.
Dedicated to financing the first factory of industrial startups for ecological transformation in Europe, this fund, which aims to raise €250m, will offer decisive support to around twenty companies developing innovative technologies in strategic sectors essential to ecological transformation in Europe, such as energy (new renewable energies, storage, etc.), chemicals, materials (biomaterials, plastics recycling, etc.), agriculture, food and mobility (decarbonisation of air and sea transport, etc.).
In addition to its financial participation, Veolia will use its industrial expertise in the water, waste and local energy sectors to speed up the identification of innovative companies in the process of industrialisation, which in the future will ensure the development and deployment of concrete and affordable solutions to depollute, decarbonise and regenerate natural resources.
This commitment is in line with Veolia's innovation priorities and the Group's strategic plan, GreenUp, which aims to invest €200 million in industrial demonstrators and the acquisition of new technologies.
"This investment in the Axeleo GreenTech Industry impact fund underlines Veolia's support for industrial startups to accelerate the ecological transformation in Europe. Fully aligned with our GreenUp strategic programme and the Group's innovation priorities, this investment alongside recognised players, Bpifrance and Crédit Mutuel, marks our collective desire to accelerate the implementation of innovative solutions to depollute, decarbonise and regenerate resources throughout Europe," said Estelle Brachlianoff, CEO of Veolia.
"We are delighted with Veolia's decisive support, which represents a major step forward - both in financial terms and in terms of sharing expertise - for this Axeleo GreenTech Industry I fund, and for the financing of Europe's first factory for green transition industrial startups. This decision reinforces our collective ambition, with the first industrial venture fund in France, to contribute to the emergence of the green industrial sectors of tomorrow" said Guillaume Sarlat, Venture Partner of Axeleo capital.