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Shanghai, April 16, 2019 --- Solvay Ventures invests in the venture capital fund Longwater Advanced Materials Fund managed by Longwater Investment, a pioneer in investment in advanced materials and chemistry-related technologies in China. This collaboration will generate partnership and co-investment opportunities with local Venture Capital ecosystems and speed-up Solvay’s innovation delivery.
Solvay is an advanced materials and specialty chemicals company. The investment in Longwater Advanced Materials Fund is aligned with the Group’s strategy to develop new chemistries and sustainable solutions that serve diverse end markets such as: automotive, electronics, battery, energy, etc. It is notably a unique opportunity for the Group’s R&I Center based in Shanghai to build new partnerships with local startups to undertake open innovation projects but also to support Solvay’s long-term sustainable growth in China.
“China is on the verge of becoming the world’s largest startup ecosystem, building a new generation of large venture capital funds and high tech companies,” said Stéphane Roussel, Solvay Ventures Managing Director.“Thanks to this new partnership with Longwater Investment, we will support the development of innovative companies in the advanced material industry in the country, while gaining more in-depth local market insight.”
“We share a common vision with Solvay Ventures in the way we are committed to technological innovation and sustainability. Such similarity in core values has given our team very strong confidence that our partnership will be a mutually beneficial one with some exciting accomplishments,” said Xuesong Shi, Managing Partner of Longwater Investment.
Based in Shanghai, Longwater Investment is one of the few equity fund managers which focuses on advanced materials and chemistry-related technologies in China. It executes and manages its investments with the perspective of achieving successful growth and investment return driven by technological innovation, industrial upgrades and the improvement of human well-being.
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SOLVAY is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500 employees in 62 countries. Net sales were €10.3 billion in 2018, with 90% from activities where Solvay ranks among the world's top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris Bloomberg: SOLB.BB - Reuters: SOLB.BR), and in the United States its shares (SOLVY) are traded through a level-1 ADR program. Financial figures take into account the planned divestment of Polyamides. SOLVAY VENTURES is the Venture Capital fund of Solvay and invests in breakthrough technologies in advanced materials and formulations. Operating since 2005, Solvay Ventures manages a $100m global evergreen fund with a focus on better use of resources, energy transition, health & wellbeing, and digital age; all investments feature a strong sustainability component. In addition to providing capital to start-up companies, Solvay Ventures leverages Solvay capabilities to generate business synergies between startups and Solvay's businesses and innovation platforms. |
