Major step in green tech fund creation

Chinese Academy of Sciences Holdings Co., Ltd. and Innovator Capital Limited have signed a Cooperation Agreement, marking the next step in the process of setting up their joint venture. The JV, with Innovator Capital’s Sustainable Finance & Investment Corporation, will comprise a green technologies innovation fund and a transfer platform.

The fund, which was first announced at this year at Innovator Capital’s CleanEquity Monaco annual conference, in the presence of Prince Albert II of Monaco, is being set up specifically to enable sovereigns to fulfil their obligations under Article 10 of the Paris Climate Accord. Supporting innovation of technologies that can combat the causes and effects of climate change is now a critical, unsatisfied requirement.

The agreement paves the way for the immediate creation of a Reserved Alternative Investment Fund (RAIF) in Luxembourg. The RAIF will have several sub-funds, which are designed to accommodate the needs of all interested investors. Technology innovation that addresses health will be a focus alongside sustainable technologies; in effect addressing the United Nations Sustainable Development Goals.

The event, hosted by Innovator Capital and held at the Shelboune Hotel in Dublin, was one of the opening sessions of the China Entrepreneurs Club’s Irish tour. The club is chaired by Jack Ma, founder of Alibaba Group.

“I am delighted that progress is being made on this essential project,” said Dr. WU Lebin, Chairman of the China Academy of Sciences Green Investment Company. “We welcome other investors to join with us on our mission to accelerate innovation.”

The Chinese Academy of Sciences, founded in 1949, is a Chinese research institute. It has historical origins in the Academia Sinica during the Republican era and formerly also known by that name, is the national academy for the natural sciences of the People’s Republic of China.

“We hope that 4th November will continue to be a memorable date, today is the third anniversary of the date which the Paris Climate Accord went effective,” said Mungo Park, Chairman of Innovator Capital. “The agreement Dr. WU Lebin and I have signed demonstrates China’s commitment to supporting technology innovation, sharing and transfer. Our role is to ensure that these technologies reach those that need them as fast as possible.”

Innovator Capital Limited (ICL), established in 2003, is a London based specialist investment bank focusing on health and sustainable technology companies; advising on corporate finance, mergers and acquisitions, IP, business and corporate development.