Total to dedicate $400mn global venture fund to carbon neturality

Total is planning to focus its global venture fund on fostering carbon neutrality. The fund will increase its capital to a cumulative $400mn within five years’ time, with investments supporting start-ups that develop innovative technologies and solutions which help companies reduce their energy consumption or the carbon intensity of their activities. The fund will be known as Total Carbon Neutrality Ventures (TCNV).

TCNV will invest globally, with teams based in Europe and the US, focusing on areas such as smart energy, energy storage, smart mobility, bioplastics and recycling.