Technip Energies has invested 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, according to a news release.
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.”
