Air Liquide Venture Capital (ALIAD)

Air Liquide Investments in the future and demonstration (ALIAD), is a 100% Air Liquide subsidiary integrated in the Group’s new network Advanced Business and Technologies entrepreneurial companies. ALIAD contributes to the Group’s growth and competitiveness by investing in young innovative companies offering new technologies. By placing investments in a dedicated subsidiary, Air Liquide ensures itself all the means for developing these projects with the necessary flexibility and reactivity.

Aurélie Schwartzmann

Investment Director

19 past transactions

Ekoscan Integrity

Venture Round in 2025
Ekoscan Integrity offers advanced solutions for the integrity and sustainability of industrial products by utilizing innovative technology. The company specializes in ultrasonic, non-destructive testing and provides a range of services designed to monitor critical infrastructures. Catering to a global clientele across various regions, Ekoscan Integrity combines hardware and software with on-site support to enhance operational efficiency. By enabling clients to shift from reactive maintenance to predictive maintenance, the company leverages automated systems, connected probes, and artificial intelligence to improve asset management and operational reliability.

Noble Gas Systems

Series B in 2025
Noble Gas Systems LLC, established in 2017 and headquartered in Novi, Michigan, specializes in the development of innovative gas storage and delivery systems tailored for the chemical and gas industries. The company employs conformable tank technology to provide safe and flexible solutions for storing and delivering various compressed gases, including natural gas, air, oxygen, hydrogen, and nitrogen. Noble Gas Systems aims to enable clients to store and utilize high-pressure gases in an economical manner, catering to the diverse needs of its clients in this sector.

Angiodroid

Series A in 2023
Angiodroid srl is a medical technology company based in San Lazzaro di Savena, Italy, specializing in hemodynamics, vascular surgery, and interventional radiology. The company develops an automatic injection system for carbon dioxide angiography, which serves as a contrast medium for peripheral interventional angiography. Its key products include a carbon dioxide injector and a single-use kit that consists of French catheters and a custom connection line. By combining clinical and engineering expertise, Angiodroid aims to enhance treatment options for patients, particularly those with diabetic disease and renal failure, while minimizing complications associated with procedures.

SparkNano

Seed Round in 2022
SparkNano is a deep-tech company focused on advancing battery and hydrogen solutions by minimizing reliance on scarce materials through innovative thin-layer technology. The company specializes in Spatial Atomic Layer Deposition (S-ALD), a process that allows for the deposition of ultra-thin, functional layers to enhance the performance and cost-effectiveness of manufacturing fuel cells, batteries, and solar cells. SparkNano's offerings include advanced laboratory and high-throughput equipment, which are designed to support various industries in their quest for sustainability and decarbonization. By providing tools that enable the creation of thinner, more stable layers, SparkNano enhances energy density and loading cycles in batteries while facilitating the development of electrolyzers that utilize less precious materials such as Iridium and Platinum. The company also offers comprehensive process and application support to its customers, aiding them in optimizing their manufacturing processes.

BOTALYS

Series B in 2022
BOTALYS is a company focused on harnessing the health benefits of medicinal plants while prioritizing environmental sustainability. By employing indoor precision farming techniques, BOTALYS cultivates potent botanicals under ultra-clean conditions, ensuring that they achieve their full health potential. The company operates one of the largest vertical farms in Europe, allowing for the optimization of growth environments that mimic natural wild conditions. BOTALYS is particularly known for developing a full-spectrum Korean red ginseng root powder, which is engineered to replicate the characteristics of a 20-year-old wild specimen. This dedication to quality and bioactivity enables BOTALYS to provide traceable and pure ingredients to emerging brands, thus advancing the understanding and application of botanical biodiversity in health products.

Inpria

Series C in 2020
Inpria Corporation is a company based in Corvallis, Oregon, that specializes in the design, development, and manufacturing of EUV metal oxide photoresists for the semiconductor industry. Founded in 2007, Inpria is recognized for its innovative approach to extending semiconductor lithography through inorganic photoresists and thin films for nanoscale patterning. The company's patented photo-condensed molecular oxides allow for the direct deposition of atomically smooth and dense metal oxide films from solution, which can be photopatterned for advanced applications. Inpria's photoresists are meticulously designed to meet rigorous industry specifications, addressing key factors such as resolution, sensitivity, and line width roughness, while integrating seamlessly into manufacturing processes. This holistic approach provides customers with a comprehensive solution that includes photoresists, developers, and related materials.

Diabeloop

Series B in 2019
Diabeloop is a medical device company based in Grenoble, France, focused on innovating diabetes treatment through advanced technology. Founded in 2015, the company specializes in developing an AI-based closed-loop system that automates insulin delivery for individuals with type 1 diabetes. This system includes a blood sugar monitoring device that combines a glucose sensor, an insulin pump, and a smartphone application featuring an embedded algorithm. By continuously measuring glucose levels and delivering the appropriate insulin dosage, Diabeloop aims to reduce the mental burden on patients, allowing them to manage their condition more effectively and live their lives with greater ease.

Ergosup

Series B in 2019
Ergosup developes an innovative process for producing high pressure hydrogen on site for refueling hydrogen fuel vehicles.

MYSPHERA

Venture Round in 2018
MYSPHERA SL is a company based in Paterna, Spain, that specializes in developing location and process visibility solutions for the healthcare sector using Internet of Things (IoT) technology and real-time location systems (RTLS). Established in 2012, MYSPHERA offers a range of IoT devices and applications designed to enhance patient care and operational efficiency in acute care hospitals, senior living facilities, and patient homes. Its solutions include tracking systems for residents and nursing services, as well as alerts for patients. The company also provides various web applications, such as MYHOSPITAL, MYNURSING, and MYLOCS, which assist healthcare professionals and administrators in managing services effectively. By delivering actionable insights through smart sensors, MYSPHERA aims to improve patient outcomes and optimize resource management across healthcare organizations in Europe, the Middle East, and Latin America.

Aveni

Series B in 2017
Aveni, Inc. specializes in advanced metallization technologies for semiconductor, MEMS, and renewable energy applications. The company offers two primary processes: Electrografting (eG), which is a wet electrochemical method that facilitates the growth of high-quality thin films on conducting surfaces, and Chemicalgrafting (cG), designed for non-conductive substrates. Both technologies have been effectively implemented in manufacturing, demonstrating capabilities at and below the 14 nm technology node and accommodating high aspect ratios. Founded in 2001 as a spinoff from the Commissariat à l’énergie atomique et aux énergies alternatives, Aveni has established partnerships with various research and development centers and leading global manufacturers. Headquartered in Massy, France, the company boasts a skilled team of scientists and engineers with expertise in surface science, chemistry, electrochemistry, physics, materials science, and semiconductors.

Diabeloop

Series A in 2017
Diabeloop is a medical device company based in Grenoble, France, focused on innovating diabetes treatment through advanced technology. Founded in 2015, the company specializes in developing an AI-based closed-loop system that automates insulin delivery for individuals with type 1 diabetes. This system includes a blood sugar monitoring device that combines a glucose sensor, an insulin pump, and a smartphone application featuring an embedded algorithm. By continuously measuring glucose levels and delivering the appropriate insulin dosage, Diabeloop aims to reduce the mental burden on patients, allowing them to manage their condition more effectively and live their lives with greater ease.

Inpria

Series B in 2017
Inpria Corporation is a company based in Corvallis, Oregon, that specializes in the design, development, and manufacturing of EUV metal oxide photoresists for the semiconductor industry. Founded in 2007, Inpria is recognized for its innovative approach to extending semiconductor lithography through inorganic photoresists and thin films for nanoscale patterning. The company's patented photo-condensed molecular oxides allow for the direct deposition of atomically smooth and dense metal oxide films from solution, which can be photopatterned for advanced applications. Inpria's photoresists are meticulously designed to meet rigorous industry specifications, addressing key factors such as resolution, sensitivity, and line width roughness, while integrating seamlessly into manufacturing processes. This holistic approach provides customers with a comprehensive solution that includes photoresists, developers, and related materials.

Ubleam

Seed Round in 2017
Ubleam is a company focused on enhancing the operational efficiency of manufacturers through its innovative mobile tagging solution, known as the bleam. This technology allows over 200 B2B customers to access essential information and improve their service offerings, particularly in product maintenance and operations. Ubleam's platform integrates augmented reality with interactive codes, enabling users to configure and manage product data effectively. The company, recognized for its advancements in France since 2015, is rapidly expanding its presence and aims to become a leader in the European market for B2B augmented reality solutions.

Proxem

Seed Round in 2016
Proxem specializes in semantic analysis, offering software solutions that enable real-time analysis of large volumes of textual data. This technology allows users to extract relevant information from various sources, including the web and social media. Over the past decade, Proxem has served a diverse range of clients, including prominent companies such as Air Liquide, Air France, and Total. By integrating linguistics with artificial intelligence, Proxem's solutions help businesses convert information into actionable insights, facilitating better decision-making through comprehensive language analysis and real-time global information monitoring.

SBA Materials

Series D in 2015
SBA Materials, Inc. specializes in the development and commercialization of advanced electronic materials tailored for the semiconductor manufacturing industry, particularly in back-end of line and packaging applications. Founded in 2001 and based in Albuquerque, New Mexico, the company focuses on low-k dielectric materials for interlayer dielectric applications, addressing significant needs in the sector. Its product offerings include uLK22, uLK1X, and various optical films, along with nano-porous and meso-porous materials. These materials can be utilized in diverse forms such as thin films, powders, and fibers, and can be chemically functionalized for applications in electronics, optics, sensors, and catalysts. The company operates from a facility at the Science and Technology Park, which features R&D laboratories and is strategically located near the University of New Mexico and the Sandia National Laboratories Materials Research Center. SBA Materials aims to enhance the performance of electronic devices while reducing power consumption, thereby supporting manufacturers in producing more efficient logic chips.

Aveni

Series A in 2015
Aveni, Inc. specializes in advanced metallization technologies for semiconductor, MEMS, and renewable energy applications. The company offers two primary processes: Electrografting (eG), which is a wet electrochemical method that facilitates the growth of high-quality thin films on conducting surfaces, and Chemicalgrafting (cG), designed for non-conductive substrates. Both technologies have been effectively implemented in manufacturing, demonstrating capabilities at and below the 14 nm technology node and accommodating high aspect ratios. Founded in 2001 as a spinoff from the Commissariat à l’énergie atomique et aux énergies alternatives, Aveni has established partnerships with various research and development centers and leading global manufacturers. Headquartered in Massy, France, the company boasts a skilled team of scientists and engineers with expertise in surface science, chemistry, electrochemistry, physics, materials science, and semiconductors.

Xylowatt

Venture Round in 2014
Xylowatt S.A. is a Belgian company based in Louvain-La-Neuve that focuses on developing gasification reactors to convert biomass and waste products into renewable energy. Founded in 2001, the company specializes in its NOTAR technology, which allows for energy production from a variety of contaminated residues, including different types of wood waste and sewage sludge. Xylowatt also offers oxy-gasification solutions and expert services, catering to engineering, procurement, and construction (EPC) contractors, industrial customers, and research and development departments. The company's industrial gasifiers are designed to produce clean syngas without tar residues, integrating cogeneration engines to convert wood chips into valuable energy, thereby enabling clients to benefit from locally sourced green energy. Xylowatt operates as a subsidiary of Icafin SA/NV.

Hydrexia

Series B in 2013
Hydrexia is an Australian company that has successfully designed, built, and tested systems that stores hydrogen in solid form, based on a proprietary magnesium alloy.
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