CMA CGM Fund For Energies Invests in CARBON

CMA CGM Fund For Energies Invests in CARBON

On June 28, 2023, the CMA CGM Group announced its investment in the industrial company CARBON. Rodolphe Saadé, CEO of CMA CGM, confirmed the company’s intention to invest in CARBON during President Emmanuel Macron’s visit to the Port of Marseille Fos.

Based in Marseille, the CMA CGM Group is a global player in maritime, land, air, and logistics solutions. Through this announcement, the CMA CGM Fund for Energies reaffirms its commitment to accelerating decarbonization and developing renewable energies.

CARBON‘s first gigafactory will have a production capacity of 5 GW of photovoltaic cells and 3.5 GW of modules. Located in Fos-sur-Mer, within the Grand Port Maritime de Marseille, it is currently the largest announced photovoltaic production facility in Europe. Additionally, it stands as one of the most significant job-creating projects in France. It will lead to the creation of 3,000 direct and sustainable jobs in the region.

The CARBON project thus contributes to France’s energy and industrial sovereignty.

This establishment of this first gigafactory requires an investment budget of 1.5 billion euros. The support from the CMA CGM Group follows the announcement made on June 23 by the Région Sud regarding a first grant allocation for the CARBON project.

“We are delighted to enter into a long-term partnership with this international company, for which territorial implementation has a special meaning, just like for us. We thank Rodolphe Saadé and his teams for their trust.” (Pierre-Emmanuel MARTIN, CEO of CARBON)

To watch Rodolphe Saadé’s announcement during Emmanuel Macron’s visit:

Rodolphe Saadé (PDG CMA CGM) annonce à Macron sa volonté d'investir dans CARBON

What is the CMA CGM Fund for Energies?

Rodolphe Saadé founded the CMA CGM Fund for Energies in September 2022. With a budget of 1.5 billion euros over 5 years, the fund invests in projects dedicated to the energy transition. Its mission is to support the development and production of renewable energies, accelerate the decarbonization of the CMA CGM Group’s industrial facilities, and foster innovative projects and low-emission mobility solutions.

Since its establishment, the Fund for Energies has invested in over thirty infrastructure projects, startups, funds, and internal initiatives. In just six months, the Fund for Energies has provided support to various projects serving the energy transition, including:

  • The Salamandre project led by ENGIE, which aims to produce biomethane at the Port of Le Havre.
  • Waga Energy, a company that has developed a technology for the valorization of waste gas.
  • The startup EarthWake, which converts plastic waste into fuel.
  • TreaTech, a producer of gas from liquid waste.

Furthermore, the CMA CGM Energy Fund has also made investments in the Hy24 fund, specializing in hydrogen development, and holds interests in the SWEN Capital fund, focused on sustainable fuels.