Published by Todd Bush on June 29, 2023
ROTTERDAM, Netherlands, June 29, 2023 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced its investment in a new Carbon Neutrality Fund led by Chrysalix Venture Capital. The fund will support emerging companies developing and deploying new low-carbon technologies, focusing on hard-to-abate sectors, such as the chemicals industry. These investments expand LyondellBasell's venture capital activities to help advance its ambitious sustainability goals.
>> In Other News: LyondellBasell Pursues New Electric Furnace Technology, Collaborates with Technip Energies and ChevronPhillips
"Sustainability is integrated into our business strategy, and we are confident the Carbon Neutrality Fund will help us advance our industry-leading climate goals, as we create value, and develop products and solutions that contribute to a better tomorrow," said Jim Seward, executive vice president and chief innovation officer at LyondellBasell. "Chrysalix Venture Capital has an established track record of investing in new climate technologies and a strong focus on developing innovative solutions for hard-to-abate sectors, including chemicals."
"We are pleased to welcome LyondellBasell and other leading international investors to the Carbon Neutrality Fund," said Fred van Beuningen, Managing Partner at Chrysalix Venture Capital. "Working closely with our Limited Partners, the Fund will connect leading companies with outstanding entrepreneurs, linking market driven problems to innovative solutions while seizing the value creation opportunity of carbon neutrality. Technologies that support carbon neutrality offer a value creation and a new business opportunity, companies with a proactive carbon strategy will create long term sources of differentiation."
In addition to Chrysalix, LyondellBasell has invested in Closed Loop Circular Plastics Fund, Infinity Recycling, and HX Venture. These venture capital funds are focused on accelerating the development of infrastructure and recycling technologies needed to address plastic waste challenges in North America, Europe, and Asia. These investments align with the company's goal that for every dollar LyondellBasell invests in venture funds addressing critical sustainability challenges, the company helps catalyze another five dollars from co-investors.
>> In Company Spotlight: LyondellBasell Industries
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
SOURCE LyondellBasell
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🗑️ The Next Big Thing in Carbon Capture? Trash. ⚡ Hydrogen Hope on the Chopping Block: How ARCHES and Other Blue-State Projects Got Caught in the Crossfire 📊 GEP Expands Carbon D...
Inside This Issue 🔧 America Bets Big on Blue Hydrogen: Inside the Engine Revolution Backed by Top Institutions 🤖 Bringing AI to Carbon Capture: How Imperial College is Revolutionising Plant Operat...
Inside This Issue 💰 Shell, Equinor, Totalenergies to Invest $714 Million in Carbon Storage Expansion 🚢 AiPs Obtained for Liquefied CO₂ Carrier Design and Floating Liquefied Storage Facility 🌱 Stoc...
Ocean Visions Releases Comprehensive Marine Carbon Dioxide Removal Ecosystem Database
WASHINGTON, DC, UNITED STATES, April 2, 2025 /EINPresswire.com/ — Ocean Visions has released a comprehensive database that provides an in-depth repository of the diverse entities in the marine carb...
Deal with Microsoft enables science research at Terradot project site in Brazil SAN FRANCISCO – Terradot, a leader in Enhanced Rock Weathering (ERW) technology, today announced an agreement with M...
Hyaxiom, Inc., Announces Nation's First Multi-megawatt, Multi-story Installation Fuel Cell Project
Charter Oak Combined Heat and Power (CHP) Project in Bridgeport aims to deliver low-emission power, high CHP efficiency, and local energy benefits EAST HARTFORD, Conn., April 2, 2025 /PRNewswire/ ...
SLINGERLANDS, N.Y., April 03, 2025 (GLOBE NEWSWIRE) -- STEF Group, European leader in transport and logistics services for temperature-controlled food products, has recently launched two hydrogen p...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.