PETRONAS CVC to Leverage Open Innovation for Business and Technology Excellence
KUALA LUMPUR, Oct 4 (Bernama) — PETRONAS has set up a venture capital arm, PETRONAS Corporate Venture Capital (CVC), to drive technology innovation and maintain a competitive edge to support its core oil and gas business for further growth.
A USD350 million fund for investment has been allocated for PETRONAS CVC to target direct investments in technology startups in industry 4.0, advance materials and specialty chemicals, future of energy as well as access into new markets.
