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06-03-2008

Solvay: Invests in Exploring Sustainable Technologies

Solvay has joined Capricorn Cleantech Fund, a venture capital fund which focuses on start up, early and development stage investments in clean technology-based growth companies across Europe. Solvay will act as a strategic partner. The company’s commitment to Capricorn Cleantech Fund reflects its strategy to foster new business opportunities in sustainable technologies, with a particular focus on chemistry based on renewable materials, sustainable energies and environmental technologies.

Solvay’s recent projects in those areas include the manufacturing of epichlorohydrin from natural glycerine through its proprietary Epicerol process, the production of vinyls derived from salt and sugar cane as well as the development of membrane electrode assemblies (MEA) for fuel cells. In addition, Solvay is the first technological partner of the Solar Impulse challenge, aimed at flying a solar-powered air craft around the world.

In Mid-May Capricorn Venture Partners held the final closing of its Capricorn Cleantech Fund well above its original fundraising target, at over Euro 100 million. In addition to ramping up its investment pace following this successful closing, Capricorn is also looking to expand its investment team in the coming months.

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