In 2022, Aramco announced its $1.5 billion Sustainability Fund to invest in technology that can support a stable and inclusive energy transition. Managed by Aramco Ventures, the venture capital arm of Aramco, initial focus areas include carbon capture and storage, greenhouse gas emissions, energy efficiency, nature-based climate solutions, digital sustainability, hydrogen, ammonia, and synthetic fuels.
To date, Aramco Ventures has invested in 22 innovative startup and high-growth companies in the sustainability sector, including a number of Greentown member companies working in long-duration energy storage, electrification of chemical manufacturing, and zero-emission fuels.
“Aramco Americas and Aramco Ventures have already exemplified what we look for in a fantastic partner by support of our entrepreneurs through investment and pilot opportunities, and engaging with our communities in Houston and Boston in the spirit of sustainability and climate action,” said Kevin Taylor, Interim CEO and CFO of Greentown Labs. “We appreciate Aramco's partnership and are eager to support more mutually beneficial connections between their team and our entrepreneurs.”
Through the partnership, Aramco Americas will participate and engage within Greentown's broad network of industry leaders, innovators, and entrepreneurs. Additionally, Aramco Americas will participate in Greentown's Industry Leadership Council (ILC)—a non-governing body that provides strategic guidance and input to Greentown and is committed to climatetech collaboration and innovation. Jim Sledzik, Managing Director of Aramco Ventures North America, will serve on the ILC.
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