Equinor Ventures partners with the innovation platform Plug and Play
Equinor ventures is partnering with Plug and Play, a global innovation platform headquartered in Silicon Valley, to drive innovation across the Asia Pacific region.
Equinor Ventures, the corporate venture capital arm of Equinor, will partner with Plug and Play to drive business growth and deepen the engagement and relationship in the regional startup ecosystem. The partnership will leverage Plug and Play's extensive network of startups and its expertise in accelerating innovation, alongside Equinor's deep industry expertise and commitment to sustainability. Together, they will identify the relevant start-ups to work together to develop new technologies and solutions that can help accelerate the transition to a low-carbon future.
Plug and Play is a global innovation platform headquartered in Silicon Valley. They have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since its inception in 2006, their programs have expanded worldwide to include a presence in over 50 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. Companies in their community have raised over $12 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal.
The Asia Pacific headquarters was launched in Singapore in 2010 and have since expanded into Indonesia, the Philippines, and Thailand. Since then Plug and Play have invested in more than 50 startups and have collaborated with various governments as well as multinational and regional corporations to multiply their innovation efforts through initiatives such as industry-specific accelerator programs.
"Equinor Ventures is pleased to partner with a world-renowned platform Plug and Play as we aim to deepen our engagement with start-ups in Asia Pacific. The partnership will support us in identifying exciting climate tech and energy transition related opportunities in the region. Through this collaboration, we will also support and partner with start ups to scale up their businesses." says Lars Klevjer, Managing Director of Equinor Ventures.
"We are excited to partner with Equinor to drive innovation in the energy industry in the Asia-Pacific region. Sustainability continues to be a key focus area for us globally. As our populations grow and our oceans rise and climate changes, humanity is faced with more and more challenges." said Jupe Tan, Managing Partner, Plug and Play APAC. "We believe that by combining our network of startups with Equinor's industry expertise, we can identify and develop the most promising new technologies and solutions that can help accelerate the transition to a more sustainable energy future in this region."
Through the partnership, Equinor Ventures will work closely with Plug and Play's sustainability vertical to identify and evaluate startups developing new solutions in areas such as green fuels, carbon management, grid & mobility, and clean power.