Michelin invest in Ecomobility Ventures
Air Liquide and Michelin Join SNCF, Orange and Total and Invest in Ecomobility Ventures, a European Investment Fund Dedicated to Innovation in Sustainable Mobility
Created in 2011 by SNCF, Orange and Total, the Ecomobility Ventures investment fund contributes to the development of sustainable mobility by supporting innovation and cooperation between start-ups and larger groups. Its investing strategy is focused on four key areas: transportation services, innovative information technologies, connected vehicles and mobility solutions, and intelligent infrastructures.
These new types of sustainable mobility, stimulated by the rapid evolution of technologies and usages, require leveraging many industrial expertises. By joining this partnership, the Air Liquide Group (via its venture capital subsidiary ALIAD) and Michelin demonstrate the critical positioning of innovation in their overall strategy and will provide to the three original partners - Orange, Total and SNCF - their own know-how and expertise to broaden the scope of understanding and action of the mobility ecosystem.
Pierre Etienne Franc, Vice President, Air Liquide advanced Business & Technologies, stated:"Air Liquide is delighted to have this opportunity to forge connections and partnerships with other industry players whose challenges and approaches are complementary. For Air Liquide, innovation in the area of sustainable mobility goes with the brand territory. At a time when hydrogen mobility and other innovative energy solutions are just starting to take off in the transportation sector, the challenge for the Group is to pay close attention to changes in mobility usages and business. The investment in Ecomobility Ventures is carried by ALIAD, the venture capital investor of Air Liquide."
Laurent Noual, member of the Executive Committee of the Michelin Group and Director of Corporate Development, added: "Michelin has chosen to invest in Ecomobility Ventures, a unique investment fund in Europe both by its scope and mission. At a time when 1 billion vehicles travel across the world and 600 million more cars will be on the market by 2030, the core mission of the Michelin group is more than ever to design, produce and promote the most environmentally friendly mobility solutions for goods and people. From the design of the radial tire, combining durability, road handling and energy savings until the launch of the comprehensive Effifuel Program, dedicated to lower fuel costs of the trucking industry, Michelin's innovation strategy combines product performance with a clear strategy to control its environmental footprint. Michelin, and the major industry and services professionals with which we partner today, will leverage an exclusive expertise to identify the most promising projects and new ideas in the field of sustainable mobility."
Furthermore, to support their venture capital approach, the shareholders of Ecomobility Ventures, which relied from the beginning on the guidance of Eclaircile Management, represented by Fabienne Herlaut, chose now to rely on the financial investment services of Blue Invest, affiliated with Idinvest Partners, a leading European SMB financing group.
"After partnering with the Lagardère Group in the fields of media and Internet, with EDF through the Cleantech initiatives, our Group, through one of its affiliates, is proud to support via Ecomobility Ventures five prominent industrial groups leveraging new technologies to support the future of mobility," added Christophe Bavaria, CEO, Idinvest Partners.
François Badoual, General Manager of Total Energy Ventures and President of Ecomobility Ventures, thanks on behalf of his partners Fabienne Herlaut for her essential contribution to the fund in its initial growth and welcomes the new advisory team, which will initiate a new development phase. "With the renewed commitment of its industrial shareholders and the arrival of Air Liquide and Michelin, the objective of our investment fund is to significantly increase its scope and investment capacity."
Ecomobility Ventures holdings demonstrates a balanced investment strategy, combining mobility services and products, French and foreign companies, and projects in launch phase or more advanced. Since its inception, the fund has supported six new companies: ez-Wheel, flinc, Locomobi, Move About, OuiCar and RidePal.
Learn more about Ecomobility Ventures: www.ecomobility-ventures.com
About Ecomobility Ventures
Ecomobility Ventures is an investment fund dedicated to sustainable mobility. Ecomobility Ventures is positioned as a long-term partner for pioneering young companies with minority stakes ranging from 0.5 to 5 million. Its objective is to support a dozen start-ups aspiring to become the leaders of tomorrow. The funds committed by Air Liquide, Michelin, Total, SNCF and Orange amount to 31 million.