Emerald Technology Ventures to jointly run Swiss cleantech fund

Emerald Technology Ventures, which has offices in Toronto and Zurich, Switzerland, has jointly with South Pole Carbon won a mandate to manage the Swiss Technology Fund. The fund was formed by the Swiss government to extend loan guarantees to Swiss small businesses that are developing innovative technologies to reduce greenhouse gas emissions, support the use of renewable energy or conserve natural resources. Founded in 2000, Emerald is focused on investing in the areas of energy, water, advanced materials and industrial information technology.


Emerald Technology Ventures to manage Swiss Technology Fund jointly with South Pole Carbon

Zurich-Toronto, October 22, 2014

Emerald Technology Ventures and South Pole Carbon are pleased to announce that Emerald has won the mandate to manage the Swiss Technology Fund jointly with South Pole Carbon. The fund is a federal climate policy instrument falling under the responsibility of the Swiss Federal Office for the Environment (FOEN). The Technology Fund grants loan guarantees to Swiss small and medium-sized enterprises (SME) developing and marketing innovative technologies that reduce greenhouse gas emissions, support the use of renewable energy or conserve natural resources. Starting in November, companies can apply for guarantees of up to CHF 3 million for a duration of a maximum of 10 years. The first guarantees are expected to be issued in January 2015. Initially, the fund will issue guarantees totaling CHF 150 million, which can later be increased by the parliament to CHF 500 million. Emerald, a global player in industrial SME financing, and South Pole, a specialist in financing emissions reduction projects, will leverage their complementary capabilities in teaming up to manage the Fund.

“This mandate adds another exciting pillar to Emerald’s business and can leverage off our 15 years of experience in financing innovative Cleantech companies,” stated Gina Domanig, Managing Partner of Emerald. Simone Riedel Riley, General Manager of the Technology Fund, added: “The guarantees will substantially ease the access to debt financing for innovative Swiss companies and enhance the overall ecosystem for clean technologies in Switzerland.”

Christoph Grobbel, CFO and CSO at South Pole Carbon, stated, “We are extremely pleased to join forces with Emerald. As Best Project Developer in emission reduction projects we have looked into thousands of projects worldwide and know what will work and what doesn’t. The Technology Fund is a great initiative to support innovative companies and projects. Emerald and South Pole Carbon have the right skill set to ensure its success.”

“The Technology Fund is an important addition to existing climate policy instruments. Yearly CHF 25 million of the CO2-levy’s revenue is earmarked for the technology fund. With this amount, we want to promote as many climate-friendly innovations as possible,” said Karine Siegwart, Vice-Director of the Federal Office for the Environment, FOEN and member of the Technology Fund’s steering committee. “Existing federal support programs like the ones for environmental technologies and energy research primarily support projects in earlier stage of the innovation cycle. The Technology Fund complements these programs with its focus on commercialization of innovative products.

Companies can apply for a loan guarantee as of November 1, 2014, through the fund’s website: www.technologyfund.ch

About Emerald Technology Ventures
Emerald is a globally recognized investment firm in the areas of energy, water, advanced materials and industrial IT. Founded in 2000, the company has invested in more than 50 early-stage companies out of three venture capital funds, provides open innovation services to many multinational industrial corporations and has won mandates for three technology investment programs for third parties. From offices in Zurich, Switzerland and Toronto, Canada, Emerald has managed assets of over USD 660 million to date. www.emerald-ventures.com

About South Pole Carbon
South Pole Carbon is a well-recognized sustainability solutions and service provider. The company specializes in the design and promotion of market mechanisms to fight climate change. Its expertise includes renewable energy, forestry, agriculture and water. The company’s headquarter is located in Zurich/Switzerland, it runs 17 offices worldwide. South Pole Carbon has been awarded Best Project Developer by Environmental Finance in 2014 for the fourth consecutive year. www.southpolecarbon.com

About the Federal Office for the Environment, FOEN
The FOEN is the federal environmental authority. Its mission is to ensure the sustainable use of natural re-sources, including soil, water, air and forests. It is responsible for minimizing natural hazards, reducing risks to the environment and human health from excessive pollution, conserving biodiversity and representing Switzerland in international environmental policy arenas. Limiting and managing climate change is an important task to FOEN. The CO2 levy on heating and process fuels is a key instrument towards achieving the CO2 emission reduction targets stipulated in the national legislation. Approximately two-thirds of the revenue from the levy are redistributed to the public and the economy regardless of their fossil fuel consumption. One-third of the revenue (max. CHF 300 million) is invested into the buildings programme to promote refurbishments and renewable energies, while another CHF 25 million/year are earmarked for the technology fund. www.bafu.admin.ch/tech-fund.

For more information please contact:

Emerald Technology Ventures
Simone Riedel Riley
General Manager Technology Fund
Seefeldstrasse 215
8008 Zurich
Tel +41 44 269 61 30

South Pole Carbon
Dr. Christoph Grobbel
Technoparkstr. 1
8005 Zurich
Tel. +41 43 501 35 59

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