Published by Todd Bush on June 29, 2023
ROTTERDAM, Netherlands, June 29, 2023 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced its investment in a new Carbon Neutrality Fund led by Chrysalix Venture Capital. The fund will support emerging companies developing and deploying new low-carbon technologies, focusing on hard-to-abate sectors, such as the chemicals industry. These investments expand LyondellBasell's venture capital activities to help advance its ambitious sustainability goals.
>> In Other News: LyondellBasell Pursues New Electric Furnace Technology, Collaborates with Technip Energies and ChevronPhillips
"Sustainability is integrated into our business strategy, and we are confident the Carbon Neutrality Fund will help us advance our industry-leading climate goals, as we create value, and develop products and solutions that contribute to a better tomorrow," said Jim Seward, executive vice president and chief innovation officer at LyondellBasell. "Chrysalix Venture Capital has an established track record of investing in new climate technologies and a strong focus on developing innovative solutions for hard-to-abate sectors, including chemicals."
"We are pleased to welcome LyondellBasell and other leading international investors to the Carbon Neutrality Fund," said Fred van Beuningen, Managing Partner at Chrysalix Venture Capital. "Working closely with our Limited Partners, the Fund will connect leading companies with outstanding entrepreneurs, linking market driven problems to innovative solutions while seizing the value creation opportunity of carbon neutrality. Technologies that support carbon neutrality offer a value creation and a new business opportunity, companies with a proactive carbon strategy will create long term sources of differentiation."
In addition to Chrysalix, LyondellBasell has invested in Closed Loop Circular Plastics Fund, Infinity Recycling, and HX Venture. These venture capital funds are focused on accelerating the development of infrastructure and recycling technologies needed to address plastic waste challenges in North America, Europe, and Asia. These investments align with the company's goal that for every dollar LyondellBasell invests in venture funds addressing critical sustainability challenges, the company helps catalyze another five dollars from co-investors.
>> In Company Spotlight: LyondellBasell Industries
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
SOURCE LyondellBasell
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💰 RepAir Raises $15 Million to Scale Electromechanical Carbon Capture Solution ⚙️ Haffner Energy Unveils Hynoca® Flex 500 IG: a Flexible, Cost-effective Alternative to Grey Hydro...
Inside This Issue 🏆 XPRIZE Makes History, Awards $100m Prize for Groundbreaking Carbon Removal Solutions USA - English USA 🌍 Vaulted Deep Wins $8M in XPRIZE Carbon Removal Competition 🧱 PHNX Mater...
Inside This Issue 🌲 Living Carbon Announces Agreement with Microsoft for 1.4 Million Tonnes of Carbon Removal from Reforestation of Former Mine Lands in Appalachia 🏭 US Energy Expands Carbon Captu...
Exxon Mobil (NYSE:XOM) Partners With Calpine for Large-Scale Carbon Storage and Low-Carbon Energy
Exxon Mobil recently revealed a significant agreement to manage carbon dioxide storage with Calpine Corporation, a move that might contribute to its role in low-carbon energy initiatives. The compa...
RepAir Raises $15 Million to Scale Electromechanical Carbon Capture Solution
RepAir announced that it has raised $15 million in a Series A funding round, with proceeds to be used to commercialize the company’s electromechanical solution designed to remove atmospheric and in...
STORD, Norway, April 24, 2025 /PRNewswire/ -- Höegh Evi, a global leader in marine energy infrastructure, and Wärtsilä Gas Solutions, part of technology group Wärtsilä, have successfully completed ...
Haffner Energy unveils Hynoca® Flex 500 IG: A flexible, cost-effective alternative to grey hydrogen and fossil fuels Cogeneration of hydrogen and electricity offers a unique solution for managing r...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.