Total invests in fund targeting emerging energy tech in China

The fund will invest in the energy sector, notably renewable energy, energy storage, distributed and smart energy

By Priyanka Shrestha

Total Energy Ventures (TEV) is investing in a new fund that aims to support new and emerging energy technologies in China.

It has joined forces with Hubei High Technology Investment Guiding Fund Management and Cathay Capital to launch the Cathay Smart Energy Fund.

The new fund will focus investments on emerging technologies and new business models in the Chinese energy sector, notably renewable energy, energy storage, distributed and smart energy as well as low carbon projects.

TEV and Hubei High Tech will invest around $50 million (£50m) each and following the first closing, other partners will join the fund with a target of $250 million (£202m) capital.