The Achmea Innovation Fund has announced today that it is taking a significant non-controlling interest in Land Life Company and as a result will become the largest external investor in this reforestation company. In this way, Achmea’s fund will be supporting Land Life Company’s mission to help restore two billion hectares of degraded land around the world. Achieving the goals of the Paris Climate Agreement requires a huge quantity of CO2 to be removed from the atmosphere. Reforestation is one of the few, but also one of the most cost-efficient, solutions for this. Land Life Company is a technology-driven reforestation business that plants trees at scale. This ensures ecological recovery and carbon capture says Achmea.
By working with Land Life Company, ICMIF member Achmea wants to achieve its own climate objectives but also help customers reduce CO2 emissions until true carbon neutrality can be achieved. Land Life Company’s business model focuses on offsetting CO2 emissions of companies through reforestation if there is no other feasible solution available to become climate-neutral. Related to this, Achmea wants to develop new customer propositions so that it can respond to the rising demand for CO2-offsets, driven by the growing desire of companies, institutions and individuals to do more for the climate, but also driven by rising CO2 emission costs. Fund manager Katharina Maass of the Achmea Innovation Fund said: “This is a great, high-impact investment. The Achmea Innovation Fund believes in the mission of Land Life Company. It fits perfectly with Achmea’s corporate mission: contributing to a healthy, safe and futureproof society, while helping Achmea to serve its customers better.”
The investment by the Achmea Innovation Fund and its co-investors will ensure that Land Life Company can enter its next growth phase. Also participating in this round are the DOEN Foundation, the Grantham Foundation and sustainability investor Meewind. As well as investing, Achmea Innovation Fund specifically wants to build a long-term alliance with Land Life Company. In that context, Katharina Maass of the Achmea Innovation Fund will join the Supervisory Board of Land Life Company as of closing of the transaction. Jurriaan Ruys, CEO of Land Life Company on the investment and alliance said: “Land Life Company looks forward to extending the partnership with the Achmea Innovation Fund. Both Achmea and Land Life Company have a social heart and see what can be achieved with new technology. Together we will work on restoring nature.”
First year of the Achmea Innovation Fund
The date of 1 October 2020 marked exactly one year since the Achmea Innovation Fund was founded. The fund provides growth capital to promising tech- and other companies which, in line with Achmea’s mission, wish to contribute to a healthy, safe and future-proof society. Working on sustainable solutions, for example on the climate theme, is one of the challenges.
Katharina Maass said: “With our cooperative identity, Achmea wants to deliver value for our customers and for the community. In this way, we are looking beyond today. That’s where we would like to play a meaningful role with the Achmea Innovation Fund.”
Original article published by Fleur Bello, Spokesperson and Senior advisor Corporate Communication and Public Affairs at Achmea. Reproduced with permission.