AP Ventures closes Fund II with Temasek joining as Limited Partner
• AP Ventures is focused on the fast-growing hydrogen economy investing in technology companies tackling global environmental and sustainability challenges. The existing portfolio has 17 investments across the hydrogen value chain including production, storage, transportation and end uses;
• Temasek joins existing Limited Partners Anglo American Platinum, Equinor Ventures, Implats, the Mirai Creation Fund, Mitsubishi Corporation, Nysno Climate Investments, Pavilion Capital, Plastic Omnium, the Public Investment Corporation, Sumitomo and Yara Growth Ventures, as an investor in AP Ventures;
• Fund II closes with $316m of committed capital bringing total assets under management to $395m.
London, United Kingdom, 24 June 2021: AP Ventures today announces the closing of Fund II with the admission of Temasek as the 12th Limited Partner.
AP Ventures’ investment strategy is focused on companies developing technologies which are capable of sustainably solving global challenges such as renewable energy integration and resource scarcity. A key area of focus is the decarbonisation of transport and heavy industry. Through fuel cells, green hydrogen enables zero emission mobility while the use of hydrogen for heat can enable the decarbonisation of industries such as steel and cement manufacturing presently reliant on hydrocarbon fuels.
In welcoming Temasek, AP Ventures and its portfolio companies look forward to benefitting from working with a global investor with a strong ESG mandate and a focus on developing the hydrogen economy.
“We are pleased to announce the closing of Fund II. Our second fund builds on the extensive experience we have gained since 2013 when we started investing across the hydrogen economy. Our portfolio of hydrogen technology companies has grown rapidly in the last few years and we look forward to working with our investors to support further development and large scale deployment of these technologies.”
“We are delighted to welcome Temasek as an investor in Fund II. The development of the hydrogen economy continues to gain momentum and we are excited to have the opportunity to work in partnership with a highly regarded global investor. Temasek’s focus on this area will further allow AP Ventures to provide its portfolio companies with a unique combination of investment and development opportunities.”
AP Ventures is headquartered in London and manages venture capital funds with a global mandate to invest in pioneering new technologies and businesses which aim to solve global challenges such as renewable energy integration, resource scarcity and a growing population.
The existing portfolio is focused on the hydrogen value chain and includes investments in Altergy, Amogy, C-Zero, ERGOSUP, Greyrock Energy, Hazer Group, HPNow, Hydrogen Refuelling Solutions (HRS), Hydrogenious LOHC Technologies, HyET Hydrogen, Hystar, Infinium Holdings, Insplorion, Plug Power, Protea, Starfire Energy and ZEG Power.
AP Ventures is led by Andrew Hinkly (Managing Partner) and Kevin Eggers (Partner). Investors include Anglo-American Platinum, Equinor Ventures, Implats, the Mirai Creation Fund, Mitsubishi Corporation, Nysno Climate Investments, Pavilion Capital, Plastic Omnium, the Public Investment Corporation, Sumitomo, Temasek and Yara Growth Ventures.
More info: www.apventures.com
Temasek is an investment company with a net portfolio value of S$306 billion (US$214 billion) as at 31 March 2020. Its three roles as an Investor, Institution and Steward, as defined in the Temasek Charter, shape Temasek’s ethos to do well, do right and do good.
Temasek actively seeks sustainable solutions to address present and future challenges, through investment and other opportunities that help to bring about a better, smarter and more sustainable world.
For more information on Temasek, please visit www.temasek.com.sg
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