GIC, Sequoia Capital, Primavera Capital Explore Net Zero Economy through USD$1 Billion Investment In Envision
GLASGOW, SCOTLAND, November 1, 2021 – To mark the start of the 2021 United Nations Climate Change Conference (“COP26“), Envision Group (“Envision”) announced the investment of over US$1 billion by Sequoia Capital (“Sequoia”), GIC Private Ltd (“GIC”), and Primavera Capital (“Primavera”). This is one of the largest net zero investments to date to accelerate the pace of energy transition and explore net zero opportunities through strategic partnerships.
A global greentech leader, Envision’s businesses span multiple areas critical to achieving net zero including renewables, hydrogen, battery and digital solutions. Through its net zero tech partnership strategy, Envision works with governments and businesses to accelerate energy transition and launch the green industrial revolution.
Speaking at COP26, Lei Zhang, CEO, Envision Group, said: “Both technology and capital investments are important to net zero transition. This strategic partnership will enable Envision to mobilize capital investors for building the net zero economy.”
Fred Hu, Founder and Chairman, Primavera Capital Group, said: “Primavera fully recognises Envision’s technological innovation prowess, advanced manufacturing and integrated service capabilities. By leveraging our respective strengths in both domestic and international markets, including the strong eco-system of Primavera’s portfolio companies, we intend to support Envision’s global expansion and growth, empower many more industries to achieve zero-carbon transition, and promote mass adoption of renewable energy and clean tech globally.”
Neil Shen, Founding and Managing Partner, Sequoia China, said: “This is a strategic investment to promote the construction of a new global green industrial system. Responding to the propositions of the times through innovative means has always been Sequoia China’s pursuit and is in our genes. Carbon neutrality is the key challenge facing the future of mankind. Our destiny is in our hands.”
Ang Eng Seng, Chief Investment Officer of Infrastructure at GIC, said: “Envision is a fast-growing and global leading renewables and greentech company with the depth and breadth of products in the renewable energy space that would make a significant impact to the world’s demand for decarbonisation. As a long-term global investor, we look forward to working with Envision on its various cleantech ecosystems, including new wind farms and energy transition assets across the markets.”