Technip Energies invests in cleantech fund to boost path toward net zero
Technip Energies invests in cleantech fund to boost path toward net zero - Offshore Energy
Technip Energies invests in cleantech fund to boost path toward net zero
Engineering and technology company Technip Energies has invested in Evok Innovation’s Fund II, a cleantech fund that invests in and supports hard-tech development and focuses on next-generation sectors such as low-carbon hydrogen, carbon capture and removal, electrification and critical minerals.
According to Technip, Evok specifically focuses on expediting the advancement of critical energy-transition technologies and supports startups by providing them with the necessary resources, networks and expertise to scale their operations and achieve maturity.
Evok’s investment sectors encompass carbon capture, use and storage, clean fuels, electrification and industrial decarbonization, areas that Technip Energies’ said align with its markets.
Marty Reed, Founding Partner of Evok Innovations, expressed delight to have Technip Energies as a strategic limited partner and noted that Technip can help accelerate the commercialization of its startup technologies.
Samir Karoum, Chief Strategy and Sustainability Officer of Technip Energies, commented: “By bringing our engineering, technology and project competencies in fields such as hydrogen, clean fuels and carbon capture, we set the stage for a new wave of innovations that will certainly shape a sustainable future.”
These last few months have been busy for Technip Energies. The company introduced Canopy by T.EN, an integrated suite of flexible and modular post-combustion carbon capture solutions, and signed an agreement with Congo’s Ministry of Hydrocarbons on cooperation in the fields of offshore and onshore energy developments. Furthermore, together with the company John Cockerill, it established Rely, a provider of integrated and competitive green hydrogen solutions.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”