Solvay and Korean partners invest EUR 26 million in Korea Advanced Materials Fund

Solvay announces today that it will jointly with its Korean partners Korea Venture Investment Corp (KVIC) and AJU IB Investment participate in Korea Advanced Materials Fund. This Korean technology venture capital fund will take participations in start-ups with promising technologies. It will focus on renewable energy, printed electronics, clean technologies & green chemistry.

Solvay will invest KRW 20 billion (EUR 13 million) in Korea Advanced Materials Fund and Korea Venture Investment Corp (KVIC) and AJU IB Investment each KRW 10 billion (EUR 6.5 million) in the Fund. The Fund will be managed by AJU IB Investment, one of the leading venture capital firms in Korea. It has a foreseen duration of eight years.
“Solvay brings its knowhow as industrial company and its global business network to the Korean technology fund, which will accelerate business expansion of portfolio companies,” comments Leopold Demiddeleer, Senior Executive VP Future Businesses at Solvay. “This participation is in line with our approach to set up partnerships and take stakes in consortia with promising start-ups and research organizations and allows us to extend our reach to promising Korean technology start-ups,” adds Leopold Demiddeleer.

“Korea has been successful in joining the leading group of the world's high technology countries, and eagerly built up new technology development capabilities. Its dedication to world class technology development by industrial circles, academic and R&D institutions has produced impressive achievements which provide excellent opportunities for venture capital investors, particularly in printed electronics, clean and green technologies. We are very pleased to partner with Solvay and we think our partnership will offer a multiplying effect on growth of Korean companies,” says Jung-Kyoo Yang, CEO of AJU IB Investment.

Solvay undertakes this kind of investment operations via venture capital funds, such as Conduit Ventures, Pangaea, Capricorn Cleantech Fund and now Korea Advanced Materials Fund. The company also invests directly in young and high-growth-potential companies such as organic electronics companies Plextronics and Polyera (USA), fuel cell developer ACAL Energy (UK) or hydrogen storage developer Amminex (DK).

SOLVAY is an international industrial Group active in Chemistry. It offers a broad range of products and solutions that contribute to improving quality of life. The Group is headquartered in Brussels and employs 17,000 people in over 40 countries. In 2009, its consolidated sales amounted to EUR 8.5 billion. Solvay is listed on the NYSE Euronext stock exchange in Brussels (NYSE Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR). Details are available at


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