The announcement came as part of Agility’s launch of its latest sustainability report, “Values into Action.” It follows the news that the company committed to adopt science-based targets for greenhouse gas emissions reduction and achieved third-party certification for its shipment emissions reporting.
The company is implementing renewable energy pilots in large facilities across the world and building to green standards as it adds over 300,000m2 of facilities to its portfolio of warehousing and light industrial facilities across the Middle East and Africa. It offers emissions reports using a methodology certified to ISO 14064 standards. To drive green transformation across the industry, Agility Ventures has made green technologies one of its four core investment areas.
Agility Chairwoman Henadi Al-Saleh explained that the company is “always on the lookout for dynamic new businesses that can revolutionize the supply chain to help protect the planet.”
Green technology start-ups benefitting from the $18 million investment include Hyliion and TVP Solar. Hyliion is a hybrid technology trucking industry that reduces fuel consumption and corresponding emissions by 30 percent. It achieves this by recycling kinetic energy from braking that would otherwise be wasted. TVP Solar is a break-through, high-vacuum solar thermal technology serving the most energy-demanding applications, such as air conditioning, desalination, and process heat. Already deployed in the Middle East – including in Agility’s corporate headquarters - TVP solutions operate autonomously with no need for cleaning, directly replacing fossil fuels with cheaper, cleaner, solar heat.
Agility CEO Tarek Sultan said the company has tried to set high standards for corporate citizenship over the past decade, particularly in the areas of environmental responsibility, humanitarian relief logistics, and fair labor practices.
“Agility has donated logistics expertise and services to more than 45 major humanitarian operations in countries ranging from Indonesia to Peru. Agility’s investments in the environment are the company’s new frontier.”