Four European heavyweight companies have come together to fund innovative solutions toward sustainable mobility.

SNCF, Orange, PSA Peugeot Citroën and Total have formed Ecomobilité Ventures, which will use €30 million to invest in young companies. The company will target European companies in the start-up or development stage and will support them over the long term.

Vivek Badrinath, Executive Vice President of Enterprise Communication Services at Orange said: “Mobility is integral to the challenges facing our society today. Information and communication technologies are a vital lever for optimising travel and energy resource management.”