Singapore-based investment company Pavilion Capital has become a limited partner in venture capital manager AP Ventures’ Fund II.
In welcoming Pavilion Capital as its eighth limited partner, AP Ventures and its portfolio companies “look forward to benefitting” from working with a Singapore-based investor focused on the North Asian and Southeast Asian economies, states AP Ventures.
Meanwhile, AP Ventures has an existing portfolio of 14 investments across the hydrogen value chain including production, storage, transportation and end-uses of the product.
The venture capital manager’s partners have been investing throughout the hydrogen value chain since 2013, seeking companies that are developing technologies capable of sustainably solving global challenges such as renewable energy integration and resource scarcity. A key area of focus remains decarbonisation of transport, including shipping, and heavy industry.
AP Ventures reports that, by using fuel cells, green hydrogen enables zero-emission mobility while the use of hydrogen for heat can decarbonise industries such as steel and cement manufacturing that are currently reliant on hydrocarbon fuels.
Further, hydrogen has a strategic importance for Singapore, a major maritime port and aviation hub, says AP Ventures, adding that green hydrogen has the potential to decarbonise the hard-to-abate maritime and aviation sectors.
AP Ventures managing partner Andrew Hinkly says the speed of growth and development within the hydrogen economy continues to gather momentum. “We are proud to work with Pavilion Capital by providing access to this sector.”