Skip to main content

Air Liquide Venture Capital

Investing in the start-ups of the future

Air Liquide Venture Capital, ALIAD, was set up in 2013 as the Air Liquide Group’s venture capital investor.

Our missions

Thanks to its customer knowledge and its industrial and technological expertise, ALIAD supports the growth of innovative startups for the future of technologies.

Its involvement is illustrated by R&D and business privileged agreements between the startups and the Group’s other entities.

Over 30 investments since its inception

Our organization

Three key sectors

ALIAD targets three sectors of investment related to important social changes:

  • Energy transition
  • Healthcare
  • Digital
Solumix Founded in 2012, the young French enterprise has developed an innovative construction material that improves insulation values, while also considerably reducing construction lead times and labor costs.
Terrajoule Established in 2009, Terrajoule develops technologies that address the intermittent nature of solar and wind power, based on heat recovery.
Plug Power Founded in 1997, Plug Power is the global leader in fuel cells for forklifts. Its largest customers are leading logistics operators such as Walmart, P&G, Coca-Cola, BMW and Mercedes-Benz.
Demeter Partners Demeter Partners 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.
Quadrille Capital Quadrille is an investment fund that specializes in technology (IT, Internet, life sciences and clean technologies) and in conventional and renewable energies.
Hydrexia Hydrexia is a young and innovative Australian company that develops a hydrogen storage technology using a new solid magnesium alloy called magnesium hydride.
Xylowatt As a young Belgian company, Xylowatt offers clean solutions for producing gas from natural or recycled biomass.
McPhy Energy Established in 2008, McPhy Energy is a French company specializing in the storage and industrial applications of hydrogen.
Ecomobility Ventures Ecomobility Ventures was set up in 2011 by SNCF, Total and Orange as an investment fund dedicated to sustainable mobility.
Avenisense Founded in 2010, Avenisense is a recognized leader in the manufacturing of embedded micro-sensors for measuring the properties of fluids in industrial analysis and conditional maintenance applications.
Quanta Dialysis Technologies This UK-based medical device company develops and markets an advanced cartridge-based hemodialysis system designed for clinic and home use.
Sigfox Created in 2010, Sigfox is an operator of a cellular network fully dedicated to the Internet of Things (IoT) and machine-to-machine communications (M2M). This network completes the already existing broadband connection offers by providing an economical two-way transmission and low consumption of short messages.
Apix Apix is a young French company which develops a nanotechnology for gas analysis.
Cellnovo Based in France and the United-Kingdom, Cellnovo has developed the first connected all-in-one diabetes management system that helps make life easier for type 1 diabetics. This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients.
Water Planet Founded in 2011, Water Planet provides membrane-based products, solutions and services. It has developed Water Treatment processes for oil & gas and industrial waste utilizing centrifuge, membranes and oxygen.
Aveni Founded in 2001, Aveni provides an innovative copper electro-deposition technology to the semiconductor industry. The technology is an enabler to address current and forthcoming miniaturization challenges of this industry.
Ergosup Ergosup has developed a disruptive hydrogen production and storage system based on zinc electrolysis that directly generates hydrogen at high pressure at a chosen time after the electrolysis phase.
STEP STEP is a Paris-based start-up that operates a FCEV taxi fleet called "Hype" (hydrogen powered Fuel Cell Electric Vehicles). The first hydrogen-powered taxi fleet is composed of Hyundai ix35, quiet and zero emissions cars.
Orcan Orcan is a Munich-based start-up developing innovative and compact Organic Rankine Cycle units that are able to convert low grade waste heat into electricity.
SBA Materials Founded in 2002 and spin-off UC Santa Barbara, SBA Materials has developed cutting edge nanoporous dielectric materials. This unique class of materials has applications in electronics markets ranging from high performance logic chips to energy storage.
Inpria Inpria is a pioneer in extending semiconductor lithography with inorganic photoresists for nanoscale patterning. The Oregon-based start-up has a disruptive technology that will change how our laptops, phones and tablets are made.
Poly-Shape Poly-Shape is an innovative French SME specializing in additive manufacturing (3D printing). It is a leader in additive manufacturing in the aerospace, automotive, medical and energy domains with recognized expertise and a unique production capacity in Europe. Industrial gases are required throughout the entire value chain of additive manufacturing.
Waga Energy

Waga Energy is a spin-off of Air Liquide which aims to transform biogas from landfills into clean, local, renewable and competitive energy. Waga Energy biomethane can be injected into the grid or used as vehicle fuel.

Solidia Technologies The technology developed by Solidia Technologies - a cement that absorbs carbon dioxide (CO2) when it hardens - helps improve the environmental footprint of the cement industry.
Carmat Since 2007, Carmat has developed a unique alternate solution to human heart transplantation based on an implantable artificial heart. This technology is now entering in the last experimentation phase with 4 transplantations already done. Air Liquide has decided to collaborate with Carmat by developing a portable fuel cell which should increase very significantly the autonomy of patients. The Air Liquide commitment is reflected by an ALIAD minority stake in Carmat.
Rapid Oxygen Founded in 2013, Rapid Oxygen Company is a disruptive American company located in Connecticut that develops portable oxygen generation devices for emergency applications.
Proxem Founded in 2007, Proxem is the French specialist in semantic analysis software for business. A player in big data and artificial intelligence, Proxem helps companies extract relevant information in real time, from a large volume of textual data.

Ubleam is a French start-up founded in 2011 in Toulouse, in the IoT Valley. Ubleam develops a technology of round-shaped, high customizable barcode, named "bleam", featuring a remarkably high reading distance and speed, along with augmented reality capabilities.

DietSensor DietSensor, a French company in the health-nutrition sector, has developed an application for diabetic patients that helps them track the glucose levels of their meals.
Investisseurs & Partenaires Investisseurs & Partenaires is a private equity firm which is solely focused on the African continent and offers financial support to the development of microfinance institutions and small- to mid-size businesses located across 15 African countries.
Libhéros Libhéros is a French startup created in 2015, which has developed an online platform as well as a mobile application dedicated to the professionals of the home healthcare market. The Libhéros solution greatly improves the daily lives of patients and healthcare professionals by simplifying the booking of appointments for at-home treatments and by making the monitoring of patients more efficient.
CombaGroup Established in Switzerland, CombaGroup is developing a cost-effective and environmentally-friendly solution for growing high-quality lettuce with a longer shelf-life. CombaGroup combines aeroponics technology with advancements in logistics, agronomy, climate control and automation to yield up to significant productivity gains.
Diabeloop Diabeloop, located in Grenoble, France, develops an artificial pancreas to improve the treatment of type 1 diabetes  patients. The closed loop technology of Diabeloop was evaluated in clinical trials in the hospital and as part of the joint laboratory with CEA-Leti, with patients at home.
ENS Urban ENS Urban, a Dutch start-up, supplies technologies to clean air in urban areas. This start-up is an expert in the field of air quality and has developed a sustainable, affordable and safe solution for capturing and eliminating  fine and ultrafine dust of the air. By applying this technology in the existing infrastructure and public space, the level of particulate matter in the city is reduced.
The eight team members of ALIAD.


ALIAD Venture Capital
Air Liquide advanced Business & Technologies
91, avenue Ledru Rollin
75011 Paris - France
Phone: +33 (0)1 44 43 46 40
Or click here