Toyota is creating a new environmental focused 'Climate Fund' which will invest in early stage start-ups to help further accelerate the realisation of its carbon neutrality goals.

Based in the U.S. and managed by Toyota Ventures, the 15-year investment initiative will seek out, invest in and work with young businesses from around the world with innovative technologies that are focused on tackling climate change head on. The fund is expected to commence operations in July of this year and swiftly gain traction by leveraging Toyota's existing investment infrastructure and early-stage venture investment expertise.
 

The capital investment will emanate from the Toyota Research Institute and particular investment sectors for the fund will include renewable energy, hydrogen production and utilisation, storage, transportation, and carbon capture. The Toyota Ventures team will be responsible for identifying and evaluating suitable start-ups to consider for investment. In addition to the existing staff, the team will be adding new Climate Fund staff. Toyota Ventures will also be able to tap into the R&D expertise at Toyota for guidance on emerging areas to explore.
 

Toyota's Climate Fund comes as the organisation moved its target year for attaining carbon neutrality among all global factories to 2035. Toyota will achieve this goal by adopting new technology in coating and casting processes while also increasing its use of renewable energy.
 

The new fund is the latest in a long line of successful Toyota investment ventures including TV Fund, Woven Capital Fund, Future Creation Fund, Space Fund, Renewable Energy Fund and Frontier Fund amongst others.


Commenting on the news, Steve Tormey, CEO of Toyota Ireland said, "Today's announcement marks another important step in Toyota's journey towards a carbon neutral society and is another example of our 'Built for a Better World' brand purpose in action. Tackling climate change progressively and effectively is best done in conjunction with other innovators who come from different angles and perspectives, and we look forward to working with some of the smartest new start-ups around the world to help make a profound difference and reverse the current negative direction planet Earth is heading in before it's too late."