Solar Impulse, a Swiss developer of solar powered electric planes, works with BNP Paribas and Rothschild to identify and invest up to 350 million euros in promising environmental startups.
Solar Impulse made headlines with a 16-month trip around the world on a solar powered plane completed in 2016. Its nonprofit unit will promote the initiative and help evaluate investments.
The BNP Paribas Solar Impulse Venture fund will invest up to 150 million euros in promising startups, according to the statement. Rothschild, together with Ar Liquid’s venture capital arm, will implement a €200 million growth and acquisitions program.
The Solar Impulse Foundation was created by the explorer Bertrand Piccard with the aim of identifying and promoting ways of making a profit and, at the same time, providing technological solutions that protect the environment.
Last month, the foundation published a list of 1,000 ideas to help solve the climate crisis, including a French startup that converts landfill methane into electricity and aviation software that can help pilots reduce fuel use by 5% .
Piccard, who slept in 20-minute shifts with his co-pilot on the trip around the world, said the objective is to show that investments make “both economic and ecological sense, promoting the qualitative growth and not just the quantitative that we see today”.
BNP Paribas will allocate 75 million euros of its equity to the new vehicle, while Rothschild will invest 80% of the capital in growth and acquisition opportunities and 20% in risky companies at an advanced stage that have shown an impact on the environment. and in society.
By Charlotte Ryan and Thomas Mulier, from Exame Invest. Published on 27/05/2021.