Orion Industrial Ventures

We are leading the green industrial revolution by developing the technologies to decarbonize hard-to-abate sectors (like our iron ore operations) while building a global portfolio of renewable energy projects. In support of our ambitious strategy, we have established a Corporate Venture Capital (CVC) operation to invest in early-stage technology companies to seed and stimulate future renewable hydrogen-based markets and support the decarbonization of the industrial sector. We collaborate closely with our portfolio companies, helping to accelerate them towards successful commercialization.

We partner early with unstoppable entrepreneurs leveraging breakthrough science and technology to pursue progress at scale. Everything we do revolves around a single problem: What are the best ways to reconcile economic growth with human and planetary health? We invest in teams and solutions that address multi-decade problems that humanity has no choice but to solve. Our focusing questionsHow can we decouple improving living standards from resource depletion? How can we ensure food, energy and materials supply security when confronted by deglobalization, multipolarity and the distractions of the attention economy? How can we improve life on Earth and unlock future economic growth potential by leveraging next-generation computing and exploring outer space? How can the clean industrialization of biological processes reduce humanity’s impact on our planet? How we invest in unstoppable founders We look to problems and unmet needs first and then to which technologies and solutions have the potential to address those problems effectively. We don’t push any one type of technology or limit ourselves to one field. We look for founders and companies at the pre-seed and seed stages leveraging the three basic disciplines (physics, chemistry, biology) to engineer economically viable solutions. We look for teams that are uniquely suited to address the opportunity and its inherent challenges and for solutions that are radically better, technically viable, and defensible. Some of the areas we are keen to continue exploring include clean commodities, space technology, industrial decarbonization, electro- and green chemistry, next-generation computing, new materials & production methods. How we partner for the long-term Starlight is a Pre-Seed and Seed investor and ideally the first institutional check into your company. Having been in your shoes as founders and scientists ourselves, we will serve as an ally in the journey ahead. Here’s what you can expect from working with us: We will lead or co-lead your first institutional round. We reserve capital for follow-on investment in later rounds, and we have to ability to partner with our LPs to augment our participation in future opportunities. We will be personally invested in your success, as a large portion of our fund comes from our own team. We will put a particular focus on ensuring that your roadmap is focused on the key risks and milestones unique to addressing the most pressing problems. We will work with you to establish rock-solid governance and operational practices that hold up to the scrutiny of the world’s best institutional investors. We will help you line up and credibly engage the right future investors for your business and trajectory. Let’s partner and make change happen.

Our vision is to be recognized as the technology leader in our industries. Our mission is to support the ANDRITZ innovation and digital agenda through cooperating with leading-edge start-ups, engaging in a broad network of innovation partners as well as coaching & supporting internal innovators. Our activities include: Scouting and connecting high-tech startups with our divisions Building an internal and external innovation network Supporting the development of internal ventures Sharing knowledge on high-tech trends as well as agile innovation and creativity methods

AP Ventures is headquartered in London and manages venture capital funds which invest in technologies that address today’s most pressing global challenges: Sustainable energy integration: Focusing on sustainable energy, clean transportation and infrastructure. This includes energy storage, fuel cell electric vehicles, distributed power generation and hydrogen infrastructure. Changing demographics: Developing biomedical applications and healthcare sensors and electronics. Uses include anti-cancer treatments, cardiac devices and dental applications. Resource scarcity: Discovering more efficient use of resources. This includes durable electronics, water treatment and natural food preservation. Our portfolio is focussed on hydrogen and its role in decarbonising energy. AP Ventures continues to invest in technologies which have the potential to unlock the hydrogen value chain, enabling the swift transition to sustainable energy. WHAT WE DO Since 2014, AP Ventures’ Partners have been developing high growth technology companies across the hydrogen value chain and looking for technologies to address the industry’s pain points. We invest in hydrogen production, storage, transportation as well as hydrogen applications to address the structural constraints which affects many sectors including mining, transportation, heavy industry. OUR INVESTORS We benefit from the support of our financial and strategic investors who have meaningful industrial footprints in the energy, mining and automotive sectors. All our investors share our interest in the hydrogen value chain.

Eclipse is a team of operators and investors building companies that transform physical industries critical to people’s lives. What Moves Us The world is at a critical inflection point. Our society has never been so technically advanced, yet so unprepared for the challenges we face. But where others see challenges, we see potential for opportunity. The demand on physical industries now outweighs the capability of the infrastructure upon which they were built. We must harness the power of digitization to redefine physical industries across all sectors. It’s time to build the new digital economy, one that’s characterized by precision, not waste; resiliency, not vulnerability; strength, not fragility. At Eclipse, we see a future paved with innovation, growth, and the rapid improvement of both people’s lives and the planet we inhabit - an Industrial Evolution. Essential industries and critical infrastructures are ripe for transformation. We want to work with founders who have the vision, grit, and determination to change our collective future. Let’s get to work. How We Invest Eclipse backs talented entrepreneurs rebuilding the world’s physical industries. Our team of former operators has experience at all stages of company growth, from startup to IPO and beyond. While our investments typically span the stages from ideation to early growth, our knowledge and expertise allows us to think creatively and pursue ideas outside this mandate. Venture Equity Venture Equity gives founders the opportunity to partner with us from Day Zero and build new businesses from the ground up. We provide patient capital to support executives and principal engineers at an inflection point in their careers looking to build solutions to some of the world's most important problems. We’ve developed a playbook to rapidly validate, refine, and build new ventures in order to catalyze innovation and accelerate them to scale. Venture Equity provides support for idea generation, thesis development, and access to scientific and business expertise, investors, and our world-class network. Early-Stage Early-Stage investing spans the journey from seed round to initial viability and early customer base. Since Eclipse’s inception, we’ve invested in Early-Stage companies poised to potentially generate scalable value for physical industries. We partner with founders creating what we believe are industry-changing products, services, and experiences. Our Early-Stage team has the deep operational experience and technical expertise to provide investment, mentorship, and strategic, hands-on guidance, supporting entrepreneurs as they build their businesses from the early days through to viability and market fit. Early Growth The Early Growth team partners with startups with what we have evaluated to be a proven technological value proposition that are entering their go-to-market stage. Early Growth partners with companies that have gone from Zero to One and are plotting a course to go from One to Ten. As a team of operators, we have built and scaled successful companies in physical industries and have the methodology, the domain expertise, and the connections to help promising startups aim to transition into high-performance, high-quality, generational companies that will shape the future.

The global carbon transition is underway. Many billion-dollar climate technology companies will be founded this decade, creating new markets and swiftly overtaking incumbents across the modern economic system. A generation of climate-motivated founders is leveraging the technological opportunity enabled by years of foundational research and development in materials science and energy alongside breakthroughs in computing, sensing, and biotechnology. Defined by superior product performance, competitive unit economics, and growing demand from businesses, consumers, and governments worldwide, these new technology companies are reshaping the foundation of the global economy. This is a market opportunity worth trillions.