CIECH joins the group of investors in the Emerald fund and increases its activity in the area of collaboration with startups
CIECH S.A. announced that it has joined an investment fund from global cleantech pioneer Emerald Technology Ventures, based in Zurich, Switzerland, with the aim of accelerating CIECH’s sustainability transformation. At the same time, the Group is actively looking for external innovations through its new company, CIECH Ventures, focusing notably on technologies related to chemistry as well as sustainable industry and agriculture.
These activities are the implementation of the strategic goals of the Group related to the growth of innovation. In terms of innovation, CIECH's goals are based on two pillars. The first of these are initiatives to improve the efficiency and competitiveness of existing businesses. The second pillar is the search, based on intellectual capital and innovative start-up solutions, for new businesses in attractive market niches.
With the investment in the international Emerald fund, CIECH’s intention is to take advantage of the best market practices for investing in innovations. Emerald’s investors include dozens of major industrial groups, including CIECH’s peers in chemicals such as Henkel, Evonik and Chevron. The fund will grant CIECH access to a rich network of global startups and the ability to invest, directly or indirectly, in the most promising firms. Of particular interest to CIECH are disruptors working on CO2 elimination, waste management, advanced materials and precision agriculture.
- Our investment in the Emerald fund and the creation of CIECH Ventures are manifestations of a stronger commitment to the area of innovation, which is of key importance in increasing the competitiveness of the CIECH Group. Accordingly, we strengthen our internal competences, invest in one of the leading VC funds and enter the start-up market more boldly – says Dawid Jakubowicz, President of the Management Board of CIECH S.A.
“CIECH makes the substances that power our modern economy and we’re excited to be joining with them at this pivotal moment,” said Hans Dellenbach, Emerald Senior Partner. “This partnership will fuel investments in the chemicals breakthroughs of tomorrow. – he adds.
The incorporation of CIECH Ventures serves to establish direct cooperation between the CIECH Group and start-ups. This cooperation may take the form of investments, business partnerships or pilot projects. The company is looking for technological start-ups from all over Europe operating at the junction of the following three areas: chemistry, sustainable industry (cleantech & circular industry) and agriculture (projects related to, e.g. CO2 and waste management, advanced materials and precision agriculture are of particular interest).
The activity of CIECH Ventures is complementary to the professional R&D team operating within the Group and responsible, among others, for innovative technologies implemented in the soda business. The advantage of the CIECH team are its specialists working on a daily basis in the Group's production plants, as well as scientists working in the Corporate Research team at CIECH S.A. Among them are chemists with PhDs from RWTH Aachen or Yale University.
- In the activities of CIECH Ventures, our priority is start-ups, for whom cooperation with a large industrial group can provide a specific value, e.g. thanks to the possibility of using many years of experience in production processes or by generating sales synergies. The high competences of our team and the opportunities offered by collaboration with the Emerald fund, is a combination that should result in acceleration in the search for innovative solutions with great business potential – says Szymon Smyk, President of the Management Board of Ciech Ventures, responsible at the same time and on behalf of CIECH S.A. for the investment in Emerald and for the Group's cooperation with the fund.
Contact for CIECH:
Mirosław Kuk, Spokesperson
miroslaw.kuk@ciechgroup.com, mob. +48 723 66 86 86
CONTACT FOR EMERALD:
About CIECH
CIECH is an international chemicals group with a strong position on global markets. It is the second largest manufacturer of sodium carbonate and sodium bicarbonate in the European Union, the largest manufacturer of evaporated salt in Poland, the largest supplier of sodium silicates in Europe, the largest Polish manufacturer of plant protection products, and a leading producer of polyurethane foams in Poland. Its factories are located in Poland, Germany and Romania, and it employs over 3,000 people throughout the EU. https://ciechgroup.com/
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ABOUT EMERALD TECHNOLOGY VENTURES
Emerald is a globally recognized venture capital firm building a sustainable future at the crossroads of industry and technology. Founded in 2000, it is a pioneer in open innovation, providing multi-national corporations with rich deal flow and insight in the sectors and markets of tomorrow. Emerald has managed and advised assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm is dedicated to tackling big challenges in climate change and sustainability via over 500 venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups. www.emerald-ventures.com
