2023-11-21 18:42:04
Santander Alternative Investments, Banco Santander’s new alternative asset manager, has made an investment in Jolt Solutions through its investment fund Santander InnoEnergy Climate Fund, with the purpose of promoting the development of green hydrogen.
In this way, the manager of Santander Bank joins the investors who participated last June in the series A financing round, led by Climentum, in which Jolt Solutions obtained six million euros.
With this financing, Jolt Solutions wants to establish its first electrode production plant in Barcelona, which will begin operating in mid-2024, in addition to a state-of-the-art laboratory.
Jolt Solutions was founded by Leon Rizzi, Julio Lloret-Fillol, Alberto Bucci and Arturo Vilavella, at the Catalan Chemical Research Institute (ICIQ), and focuses on the development of ecological hydrogen.
Green hydrogen is produced from water and electricity from renewable sources in so-called electrolyzers, whose vulnerable point is the electrodes.
In this aspect, Santander Bank explained that “Jolt is revolutionizing the production of electrodes and making possible a much more efficient industrial process in terms of costs and energy that will allow the generation of green hydrogen at a lower price than the current one in terms of costs and energy required.”
The Santander Innoenergy Climate Fund venture capital fund of Santander Alternative Investments has a time horizon of ten years. It is aimed at professional clients, and its objective is to take temporary stakes in companies in seed and early stage investment phases that carry out their activity, preferably, in the field of energy transition. The investments are mainly focused on Europe, although 10% could be developed in other countries and regions.
Santander Alternative Investments, the new alternative asset manager of Santander Bank, was registered with the National Securities Market Commission (CNMV) on July 7. It focuses on managing and marketing funds and investments in venture capital and real estate companies, both to retail and professional clients, as well as managing discretionary and individual investment portfolios and offering advice.
Santander Alternative Investments manages three other venture capital funds, in addition to the Santander InnoEnergy Climate Fund: Santander Secondaries 2023, Santander Iberia Renewable Energy, and Santander Global Real Assets.
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