Technip Energies Invests in Evok Innovation’s Fund II, a Pioneering Cleantech Fund
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PARIS--(BUSINESS WIRE)-- Technip Energies (Paris:TE) (ISIN:NL0014559478) announces its investment in Evok Innovation’s Fund II, a tier-one cleantech fund that invests in and supports hard-tech development to accelerate the path toward net zero with a focus on next-generation sectors such as low carbon hydrogen, carbon capture and removal, electrification and critical minerals.
This investment makes Technip Energies the first strategic partner with Engineering Procurement and Construction capabilities within Evok’s investors ecosystem.
As a leading venture capital firm investing in early-stage technologies for hard-to-decarbonize sectors, Evok focuses on expediting the advancement of critical energy-transition technologies. Bringing together a group of proven technologists, company builders and climate investors, the fund supports startups by providing them with the necessary resources, networks, and expertise to scale their operations and achieve maturity.
Evok's investment sectors encompass carbon capture, use and storage, clean fuels, electrification, and industrial decarbonization, areas that closely align with Technip Energies' markets.
Beyond generating outsized returns for its shareholders, the investment connects Technip Energies with a network of emerging hard-tech players and merges its engineering expertise and global project delivery know-how with the ecosystem’s visionary approach. It demonstrates Technip Energies’ commitment to creating an affordable, sustainable and reliable energy future.
Samir Karoum, Chief Strategy and Sustainability Officer of Technip Energies commented: “We are delighted to join Evok’s Fund II – a reputable venture capital fund with a proven track record of scaling cleantech companies – as a strategic investor. By bringing our engineering, technology and project competencies in fields such as hydrogen, clean fuels and carbon capture, we set the stage for a new wave of innovations that will certainly shape a sustainable future”.
Marty Reed, founding partner of Evok Innovations, said: “We’re very glad to have Technip Energies join Evok’s Fund II as a strategic limited partner. Technip Energies’ vision and commitment to a Net Zero goal by leveraging clean technologies, along with its global experience in engineering and industrial scale-up, can help accelerate the commercialization of our startup technologies.”
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 35 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States.
For further information: www.technipenergies.com.
About Evok Innovations
Founded in 2016, Evok’s inaugural fund aimed to accelerate the development of critical energy transition technologies across North America. Driven by global momentum toward a net zero future, our first fund established Evok as a leader in industrial innovation and decarbonization. The fund has made 15 investments in decarbonization technologies, ranging from clean hydrogen and carbon-to-value, to long-duration energy storage.
Building on this legacy, Evok launched Fund II in 2022, and will continue to accelerate the energy transition with a focus on sectors such as carbon capture, electrification and hydrogen.
For more information, please visit: evokinnovations.com
Important Information for Investors and Securityholders
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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Source: Technip Energies