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 a 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 in March of this year at Innovator Capital’s CleanEquity Monaco annual conference, in the presence of HSH Prince Albert, is being set up specifically to enable sovereign states 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 signing 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 the giant Alibaba Group.
Dr Wu Lebin, Chairman of the China Academy of Sciences Green Investment Company, said: “I am delighted that progress is being made on this essential project; we welcome other investors to join with us on our mission to accelerate innovation.”
Mr Mungo Park, Chairman of Innovator Capital, said: “We hope that November 4 will continue to be a memorable date, today is the third anniversary of the date which the Paris Climate Accord went effective. 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.”
The Chinese Academy of Sciences, founded in 1949, is a Chinese research institute. It has its historical origins in the Academia Sinica during the Republican era and formerly was also known by that name, is the national academy for the natural sciences of the People’s Republic of China.
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 & corporate development. ICL’s mission is to assist IP rich private & public companies with finding the right investors, acquirers, customers, licensees and commercial partners.
ORIGINAL SOURCE Innovator Capital PHOTO: Mungo Park