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Total's global venture fund to focus on carbon neutrality

Total SA will dedicate its global venture fund to foster carbon neutrality, according to an Oct. 24 news release from the French company.

The fund, Total Carbon Neutrality Ventures, will increase its capital to $400 million in five years, the release said. The investments will support startups focused on areas such as smart energy, energy storage, smart mobility, bioplastics and recycling.

Global startups now funded by Total include Solidia Technologies Inc., SunFire GmbH, Scoop Technologies Inc., SHYFT Power Solutions Inc., Ionic Materials Inc., MTPV Power Corp., AutoGrid Systems Inc., Stem Inc. and OnTruck.