Samsung Engineering, part of the South Korea-listed conglomerate Samsung, said it would invest about KRW30bn ($27m) in its corporate venture capital fund targeting hydrogen and carbon neutral technologies.
Samsung Venture Investment, the local CVC unit for the group, will manage the Samsung Engineering New Technology Business Investment Association (SVIC Number 51). This is the first time Samsung Engineering has invested in its CVC fund, which manages other business unit money from electronics to industrials.
Samsung Engineering is planning to actively develop blue hydrogen, carbon capture and plastic recycling technology and wants the CVC portfolio companies to help.
“This investment volume is equivalent to investments in five to six venture companies,” Samsung Engineering said, reported by Korea IT Times.
