Venture capital fund launched to spur energy and environmental technology development
Alstom and Schneider Electric form Aster Capital with 70 million Euros in funding for innovative technology start-ups in Europe, North America, and Canada.
Alstom and Schneider Electric are joining forces tolaunch a new venture capital fund to finance innovative start-ups in the fieldsof energy and the environment. According to the companies, this is the firsttime that two major industrial groups are associated in a joint initiative ofthis nature, which remains open to the participation of other potentialpartners.
The fund, Aster Capital, is based in Paris and will receiveprogressively a capital subscription of 70 million Euros from SchneiderElectric (40 million Euros) and Alstom (30 million Euros).
The mission of Aster Capital is to take minorityinterests in innovative start-ups based in Europe, North America and Asia, developing new technologies that could lead tomajor breakthroughs in the fields of energy and the environment.
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