Mandate for technology fund extended until 2030

(CONNECT) Emerald Technology Ventures AG, based in Zurich, has won the tender to manage the technology fund until 2030. The company is acting on behalf of the Federal Office for the Environment (FOEN), according to a press release.

Emerald Technology Ventures has been acting on behalf of the FOEN since 2014. The Technology Fund supports Swiss companies with innovative products in the four areas of reducing greenhouse gas emissions, energy efficiency, renewable energies and resource conservation. Guarantees of up to CHF 3 million are granted for a term of ten years.

The current mandate creates planning security until 2030, especially for SMEs. This will also close a significant financing gap for the companies in question, according to the press release. One of the main objectives of the financing is to significantly reduce CO2 emissions in Switzerland.

"This extension is a strong signal: Switzerland continues to rely on CO2-reducing innovations - and we are doing everything we can to fulfill this trust effectively," said Gina Domanig, CEO of Emerald, in the press release. Simone Riedel Riley, Head of the Technology Fund Office at Emerald, sees the mandate awarded by the FOEN as both a vote of confidence and a catalyst for sustainable innovation. The technology fund is managed by Emerald together with its subcontractor South Pole AG. ce/ww