Air Liquide Venture Capital
Prepare the future with startups
ALIAD (Air Liquide Venture Capital) is the strategic venture capital fund of Air Liquide.
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Over 40 investments since its creation
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Over €25M invested in impact startups since 2020
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Connected to 6 Air Liquide Campuses
Startups, let's build the future together!
ALIAD invests in tech startups that create positive impact for climate, healthcare and industry.
ALIAD is looking for startups developing innovative technologies or business models around three axes:
- Climate Tech: solutions for decarbonization, renewable energy, hydrogen, electronics, energy storage, or carbon capture and storage solutions.
- HealthTech: innovations in the medical field, to develop solutions improving patients' care and outcomes.
- Industrial innovation: technologies to strengthen the efficiency, sustainability, safety and performance of industrial assets and operations.
“By investing in startups committed to reducing our carbon footprint and unlocking new technologies, ALIAD is instrumental to the Group’s sustainable growth.
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Armelle Levieux
Member of the Executive Committee, Vice President of Innovation, overseeing the Hydrogen Energy and Electronics world business lines
An investor and a partner
ALIAD is both an investor and industrial partner to its portfolio startups.
ALIAD creates mutually beneficial partnerships between innovative startups and Air Liquide, providing financial, technological and commercial support to help startups grow and reach their full potential.
With offices in Paris and San Francisco, ALIAD's team gathers 9 employees with a strong diversity of skills and background.
If your technology can contribute to our mission, we'd love to connect!
Discover ALIAD's investments
Since its creation in 2013, ALIAD has already supported more than 40 startups:
Climate Tech
Current investments
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44.01 (UAE)- 44.01 turns CO₂ into rock, permanently removing it from the atmosphere using an accelerated mineralization process in peridotite, a rock found in abundance in Oman as well as in America, Europe, Asia and Australasia.
- CEO: Talal Hasan
- Website
- Supported by ALIAD since 2022
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AVENISENSE (Switzerland)- WIKA TECH – AVENISENSE provides environmental monitoring solutions for air quality, greenhouse gas emissions, and other parameters.
- CEO: Guillaume Granier
- Website
- Supported by ALIAD since 2022
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Botalys (Belgium)- Botalys cultivates rare medicinal plants of the highest quality using a unique and sustainable hydroponic precision farming technology for the food supplement and cosmetic industries.
- CEO: Pierre-Antoine Mariage
- Website
- Supported by ALIAD since 2022
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Cathay Smart Energy Fund (China)- Cathay invests in early to growth-stage startups developing new technologies and business models in the Chinese energy sector, with a particular focus on New Energies.
- CEO: MingPo Cai
- Website
- Supported by ALIAD since 2019
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CleanGreens (Switzerland)- CleanGreens has developed a unique moving system for the large-scale green-house aeroponics agriculture.
- CEO: Bruno Cheval
- Website
- Supported by ALIAD since 2017
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DEMETER (France)- Demeter is a leading European private equity investor in the clean technology sector (water, air and waste treatment, energy management, renewable energies, etc.), which is dedicated to SMEs.
- Website
- Supported by ALIAD since 2019
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Flying Whales (France)- Flying Whales creates large-capacity airships for transporting heavy loads with minimal environmental impact.
- CEO: Sébastien Bougon
- Website
- Supported by ALIAD since 2019
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Orcan Energy (Germany)- Orcan Energy converts waste heat from industrial processes into baseload-capable electricity, significantly reducing CO₂ emissions and electricity costs by improving energy efficiency.
- CEO: Andreas Sichert
- Website
- Supported by ALIAD since 2015
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Power to Hydrogen (USA)- Power to Hydrogen (P2H2) is developing hybrid electrolyzers (liquid alkaline/membrane) to reduce the cost of hydrogen production and its longer-term storage.
- CEO: Alex Zorniger
- Website
- Supported by ALIAD since 2024
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Waga Energy (France)- Waga is a renewable natural gas producer specialized in landfill gas upgrading, with a global presence and proprietary technology (called WAGABOX®).
- CEO: Mathieu Lefebvre
- Website
- Supported by ALIAD since 2015
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Intelliflux Controls (Water Planet) (USA)- Intelliflux can convert most existing water treatment plants to smart plants.
Past investments
EcoMobility Ventures (France)
- EcoMobility Ventures invested in sustainable mobility solutions, including electric vehicles and charging infrastructure.
Ergosup (France)
- Ergosup designs and manufactures on-site hydrogen generators for the hydrogen mobility market, based on a high pressure electrolysis technology.
McPhy Energy (France)
- McPhy Energy designs and manufactures hydrogen production, storage, and distribution equipment.
Plug Power (US)
- Plug Power develops hydrogen fuel cell solutions for material handling, stationary power, and on road-mobility.
Solumix (France)
- Solumix develops solar thermal energy systems for heating and industrial processes.
Terrajoule (France)
- Terrajoule offers a dispatchable solar module that provides on-demand solar power, day and night.
Quilvest Energies (France)
- Quilvest Energies is a fund managed by Quilvest Capital Partners, investing in renewable energy projects and companies.
Xylowatt (France)
- Xylowatt produces biofuels and biomass energy from sustainable sources.
HealthTech
Current investments
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Angiodroid (Italy)- Angiodroid develops an innovative CO2 injector device for angiography procedures.
- CEO: Sebastiano Zannoli
- Website
- Supported by ALIAD since 2022
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CARMAT (France)- CARMAT is the designer and developer of an advanced artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure.
- CEO: Stéphane Piat
- Website
- Supported by ALIAD since 2016
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Cellnovo (United Kingdom)- Cellnovo develops cell therapy products for various medical conditions.
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Libheros (France)- Libheros is an e-health company specializing in the deployment of qualified healthcare professionals (nurse, midwife, kinesitherapist) anywhere in France, from prevention to care.
- CEO: Florence Herry & Jean-Christophe Klein
- Website
- Supported by ALIAD since 2017
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Quanta Dialysis Technologies (United Kingdom & US)- Quanta is a startup developing portable and compact cartridge-based hemodialysis systems designed for clinic and home use.
- CEO: Alejandro Galindo
- Website
- Supported by ALIAD since 2014
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MySphera (Spain)- MySphera developed a Real Time Location Systems (RTLS) solution for hospitals, to help track patients and assets and optimize resource utilization and workflows in order to increase efficiency.
- CEO: Salvador Vera Manero
- Website
- Supported by ALIAD since 2018
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DietSensor (US)- DietSensor develops dietary monitoring and management tools using connected devices and personalized coaching.
- CEO: Rémy Bonnasse
- Website
- Supported by ALIAD since 2017
Past investments
Diabeloop (France)
- Diabeloop develops an innovative automated insulin system, controlled by a smartphone app.
Rapid Oxygen (France)
- Rapid Oxygen develops an emergency oxygen device used to bridge the time gap between a medical event and the arrival of EMS so that a victim receives oxygen during the first critical minutes.
Industrial innovation
Current investments
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APIX Analytics (France)- APIX Analytics uses nanotechnology to analyze gases and liquids, miniaturizing all the components of a chromatograph to check and analyze gases right on the spot, in real time, from H2 to C36.
- CEO: Eric Laporte
- Website
- Supported by ALIAD since 2015
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Distran (Switzerland)- Distran commercializes ultrasonic imaging cameras, handheld and fixed, to detect, locate and quantify gas leaks from far distances, in real time and with extreme accuracy.
- CEO: Florian Perrodin
- Website
- Supported by ALIAD since 2023
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Ekoscan Integrity (France)- Ekoscan Integrity offers a portfolio of technologies and associated services for integrity assessment, monitoring and protection of critical industrial assets, extending equipment lifespan while enhancing reliability.
- CEO: Hugo Cence
- Website
- Supported by ALIAD since 2020
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Five Arrows Sustainable Investments (FASI) (France)- FASI is a growth and buyout fund dedicated to sustainability, investing mostly in companies focused on energy and energy efficiency, sustainable cities, food and agriculture sectors.
- Head: Jean Châtillon
- Website
- Supported by ALIAD since 2022
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Ferroelectric Memory Company (FMC) (Germany)- Ferroelectric Memory Company manufactures ferroelectric memory, essential for high-performance computing applications.
- CEO: Ali Pourkeramati
- Website
- Supported by ALIAD since 2023
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Forge Nano (USA)- Forge Nano develops high-performance nanomaterials for various industrial applications, including energy storage and electronics.
- CEO: Paul Lichty
- Website
- Supported by ALIAD since 2020
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Hydrexia (China)- Hydrexia designs and builds hydrogen storage and delivery systems.
- CEO: Alex Fang
- Website
- Supported by ALIAD since 2013
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Noble Gas Systems (USA)- Noble Gas Systems (Noble Gas) is creating a safe, conformable, lightweight compressed gas storage and delivery system.
- CEO: Chris Kondogiani
- Website
- Supported by ALIAD since 2025
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Sigfox (France)- Sigfox is a network operator dedicated to IoT using the Ultra Narrow band (UNB) allowing devices to communicate with low power on a wide area.
- Website
- Supported by ALIAD since 2015
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SparkNano (Netherlands)- SparkNano develops a Spatial Atomic Layer Deposition (ALD) technology that enables the design and mass production of the next generation of energy and display devices with a highly reduced use of scarce materials.
- CEO: Jill Becker
- Website
- Supported by ALIAD since 2022
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UBLEAM (France)- UBLEAM is a French Enterprise Asset Management Software company proposing the first connected logbook for industrial infrastructure maintenance.
- CEO: Olivier Mezzarobba
- Website
- Supported by ALIAD since 2017
Past investments
Inopsys (Belgium)
- Inopsys provides on-site mobile and modular side stream solutions for the chemical and pharmaceutical industry, to purify water or solvents and recover valuable components.
INPRIA (France)
- INPRIA develops cutting-edge advanced materials for electronics manufacturing and semiconductor lithography.
Poly-Shape (France)
- Poly-Shape specializes in additive manufacturing and 3D printing services for various industries.
Proxem (France)
- Proxem is a pioneer in NLP and Machine Learning, who developed a multi-language and multi-source SaaS, to collect, analyze and visualize large volumes of textual data.