Castrol InnoVentures
Castrol InnoVentures is the corporate venture capital arm of Castrol, focusing on investments in innovative material and smart mobility businesses in the United Kingdom. Established in 2010 and headquartered in Berkshire, the firm primarily targets sectors such as information technology, sustainable energy, smartphone application development, gaming, and vehicle machinery efficiency technologies. Additionally, it invests in areas like 3D printing, remote machine monitoring, waste recovery, electric vehicle batteries, oil analysis, and next-generation engineering. Through its strategic investments, Castrol InnoVentures aims to foster advancements in technology that align with evolving mobility and sustainability needs.
Past deals in Faroe Islands
GreenSteam
Venture Round in 2013
GreenSteam is a company that specializes in fuel-saving and performance monitoring solutions for the shipping industry. Founded in 2006 by a team of M.Sc. candidates from the Technical University of Denmark, the company is based in the Faroe Islands and Copenhagen. The dedicated team of engineers and scientists at GreenSteam has developed an energy-saving system that utilizes advanced engineering principles to achieve an average reduction in fuel consumption of 4-5%. By focusing on practical and user-friendly technology, GreenSteam aims to enhance operational efficiency for shipping companies, contributing to both cost savings and environmental sustainability.
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