CMA CGM and Bpifrance Announce the Operational Launch of the Endowment Fund for the French Maritime Sector of 200 Million Euros Financed via Pulse, the CMA CGM Energy Fund

April 26, 2024

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(Bpifrance) - An unprecedented commitment from a private actor to contribute to the decarbonization of the French maritime industry.

- CMA CGM, via its PULSE investment fund, and Bpifrance are bringing together the main players in the maritime sector in France to manage this exceptional contribution.

- An unprecedented act of solidarity in maritime history, for the benefit of fishing, industry and research.

Announced in 2023 at the Paris International Agricultural Show, the endowment fund for the French maritime sector becomes operational from April. Endowed with 200 million euros via PULSE, the CMA CGM Energy fund, this endowment fund will be divided into three distinct envelopes:

- 130 million euros in subsidies intended for the maritime sector

- 20 million euros in grants intended for maritime research

- 50 million dedicated to investment

An unprecedented commitment from a private actor, this exceptional contribution demonstrates the solidarity of the CMA CGM Group with all players in the maritime sector in France, as well as overseas.

The 200 million euros dedicated to the endowment fund are entirely financed by PULSE, the CMA CGM energy fund, created in September 2022 by Rodolphe Saadé and endowed with a budget of 1.5 billion euros over five years to support the decarbonization of the Group and its supply chain.

An unprecedented initiative to finance and subsidize the entire French maritime industry

The endowment fund, administered by representatives of CMA CGM, will distribute the 200 million euros into three separate envelopes, two of which will be entrusted to Bpifrance, with a subsidy part and an investment part:

- 130 million euros in subsidies, managed by Bpifrance on behalf of the endowment fund , intended for the maritime sector to finance French companies wishing to accelerate their decarbonization, including 20 million euros in subsidies intended for French fishing companies to finance the decarbonization of their ships

- 50 million euros subscribed to an investment fund managed by Bpifrance Investissement to invest in equity and quasi-equity in French SMEs/ETIs in the maritime sector that wish to accelerate their decarbonization

- 20 million euros in grants intended for maritime research and managed directly by the endowment fund to finance cutting-edge institutes and research centers in the maritime sector

Governance that brings together the main representatives of the maritime sector in France

A steering committee, made up of 7 members from the maritime industry and the financial sector (CORIMER, Armateurs de France, Gican, Cluster Maritime Français, Meet2050, national fisheries committee and Rothschild), will decide on the orientations of the intervention doctrine. of the endowment fund. The examination of subsidy or investment files intended for the maritime sector will be managed by Bpifrance.

The CMA CGM Group's R&D department will directly supervise certain grants intended for research by establishing dedicated partnerships with identified research institutes and centers which are today at the forefront in the maritime sector.

An act of solidarity to actively support the decarbonization of an entire industry

This initiative, which constitutes an unprecedented mark of solidarity on the part of a large French group with regard to its entire sector, will make it possible to finance decarbonization projects carried out by French industrial, maritime and port players in all their diversity: fishing, passenger transport, maritime freight, boating, ports and terminals.

As a sign of solidarity with fishermen, whose efforts necessary for the energy transition of their fleet are considerable, 20 million euros will benefit the decarbonization of their vessels. This envelope will contribute to accelerating the energy transition of maritime fishing, by covering part of the investments linked to the retrofit of existing vessels, as well as studies and training linked to the implementation of carbon-free solutions.

PULSE, a unique tool serving the decarbonization of the CMA CGM Group

The establishment of this endowment fund represents an important step in the deployment of PULSE, whose investment strategy is based on two main pillars: innovation with investments in electrification, energy efficiency or carbon capture ; and industrial energy projects with the production of alternative fuels for CMA CGM ships (bio and e fuel) and the production of renewable energy (photovoltaics) for these land assets.

In 18 months, PULSE has committed 460 million euros (excluding endowment funds) for around twenty direct or indirect investments in technological and energy projects. PULSE supports in particular dedicated investment funds (like Hy24 dedicated to decarbonized hydrogen), innovative start-ups (like the Verkor battery gigafactory) and industrial leaders (like Renault and Volvo in Flexis, as well as energy companies in the production of alternative low-carbon fuels).

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, declares: “Decarbonization is a major issue for the future of the French maritime industry. As a leader, it is our responsibility to support our sector’s decarbonization efforts. This is why I wanted the CMA CGM Group to allocate 200 million euros to an endowment fund to help, with the assistance of Bpifrance, identify and finance the most innovative and efficient projects in this area. domain. »

Nicolas Dufourcq, Managing Director of Bpifrance, adds : “Supporting French companies in their ecological and energy transition constitutes a major strategic axis for Bpifrance. To do this, we have developed a complete toolbox and a unique continuum of financing and support solutions as part of our climate plan, in order to accelerate the decarbonization of the French industrial and economic fabric. The operational launch of this endowment fund, which will be used to make investments in equity, quasi-equity and debt, alongside CMA CGM, and which aims to accelerate the implementation of energy transition projects of stakeholders in the the maritime sector, is an important step in the decarbonization of the maritime sector. »

About Bpifrance:

Bpifrance's equity investments are operated by Bpifrance Investissement. Bpifrance finances companies – at each stage of their development – with credit, guarantees and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration program for startups, SMEs and mid-sized companies are also part of the offer offered to entrepreneurs.

Thanks to Bpifrance and its 50 regional locations, entrepreneurs benefit from a close, unique and efficient contact to help them face their challenges.

More information on: www.Bpifrance.fr - https://presse.bpifrance.fr/ - Follow us on X (AncientTwitter): @Bpifrance - @BpifrancePresse

About CMA CGM:

Led by Rodolphe Saadé, the CMA CGM Group, a global player in maritime, land, air and logistics solutions, serves more than 420 ports around the world on 5 continents, with a fleet of approximately 620 vessels. In 2023, the Group transported 21.8 million TEU (Twenty-Foot Equivalent) containers. With its subsidiary CEVA Logistics, a global player in logistics having transported 522,000 tonnes of air freight and more than 22 million land freight loads, and its air freight division CMA CGM AIR CARGO, the CMA CGM Group is constantly innovating to offer its customers a complete and ever more efficient offer thanks to new maritime, land, air and logistics solutions.

Committed to the energy transition of maritime transport and a pioneer in the use of alternative fuels, the CMA CGM Group has set itself a Net Zero Carbon objective by 2050.

Through the CMA CGM Foundation, the Group helps thousands of children each year as part of its actions in favor of education for all and equal opportunities. The CMA CGM Foundation also acts in the face of humanitarian crises requiring an emergency response by mobilizing the Group's maritime and logistics expertise to transport humanitarian equipment throughout the world.

Present in 160 countries via its network of more than 400 offices and 750 warehouses, the Group employs 155,000 people worldwide, including nearly 6,000 in Marseille where its headquarters are located. cmacgm-group.com READ MORE