South African chemicals and energy company Sasol has announced the launch of Sasol Ventures. This venture capital fund will invest in start-ups and early-stage technologies to help the company reach its decarbonization and net-zero goals.
The fund will focus its investments on environmentally friendly chemical and energy solutions that can assist Sasol in lowering its carbon footprint and meeting the needs of the international markets it serves.
Sasol has teamed up with a global venture capital firm called Emerald Technology Ventures to find and evaluate opportunities for the fund.Sasol Ventures will help evaluate technologies and solutions along with Sasol’s existing research and technology capabilities.
Through the partnership, Sasol will also be able to invest in Emerald’s global energy transformation fund and make the most of opportunities for innovation.
The move is part of a growing trend in South Africa to invest in green technology. A private investment company called Grovest just started a solar investment fund that gives investors tax breaks under the Income Tax Act. Sasol’s plan shows how the business world is becoming more committed to decarbonization and net-zero goals.