The new fund will consist of Shell Technology Ventures’ existing portfolio of 34 technology investments, including investments in Enventure Global Technology LLC, Well Dynamics B.V., Swellfix B.V. The fund will be independently managed and will focus on investing in Shell and third party Exploration and Production technologies. The fund will not include Shell proprietary technologies developed for exclusive use in Shell’s own operations and joint ventures.
Matthias Bichsel, Executive Vice President, Technical in Shell, said: “The creation of Shell Technology Ventures Fund 1 reflects a continuing focus on ensuring that non-proprietary Shell technologies can be developed and commercialised rapidly to maximise both value, and capital efficiency. The fund will enable us to accelerate deployment of promising technologies across our portfolio.”