Total announces a plan to focus global venture fund on fostering carbon neutrality. The Total Carbon Neutrality Ventures (TCNV) fund will increase its capital to a cumulative US$400 million within five years’ time. Its investments will support start-ups that develop innovative technologies and solutions which help companies to reduce their energy consumption or the carbon intensity of their activities.

TCNV will invest globally, with teams based in Europe and the U.S., focusing on areas such as smart energy, energy storage, smart mobility, bioplastics, and recycling.

The fund builds on Total Ventures’ existing portfolio of 35 global start-ups that directly and indirectly contribute to carbon neutrality. That portfolio includes Solidia, Sunfire, Scoop, Shyft Power Solutions, Ionic Materials, MTPV, AutoGrid, Stem and OnTruck.