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The Venture Codex

Air Liquide Venture Capital

91 Avenue Ledru Rollin, Paris, Ile-de-France, 75011, France

Overview

Air Liquide Investments in the future and demonstration (ALIAD), is a 100% Air Liquide subsidiary integrated in the Group’s new network Advanced Business and Technologies entrepreneurial companies. ALIAD contributes to the Group’s growth and competitiveness by investing in young innovative companies offering new technologies. By placing investments in a dedicated subsidiary, Air Liquide ensures itself all the means for developing these projects with the necessary flexibility and reactivity.

Total investments
19
Lead investments
3
Investments · 12mo
2
Active investors
2

Sector focus

  • Finance
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Investment portfolio

  • Quobly

    Participated · Series A · Jun 2026

    Quobly develops silicon-based quantum processors and system-level architectures using FD-SOI technology on 300 mm wafers to enable semiconductor-grade manufacturability and dense integration. Its Alloy product line includes Alloy Pioneer, intended for early adopters in high-performance computing and research, and will be accessible through the cloud in 2026 with deployment into HPC environments planned for 2027. Quobly pairs hardware, control electronics and a software stack including Alloy Forge, its quantum application development environment, to allow developers to build and validate applications under realistic hardware constraints. The company emphasizes industrialization through partnerships with semiconductor and industrial leaders such as STMicroelectronics, Air Liquide, Soitec and Orano. Financially, Quobly completed a €19 million seed phase from 2023–2025 and has now raised a €115 million Series A to fund R&D, scaling of silicon quantum processors and commercial expansion. Its strategy centers on transferring quantum technologies into advanced manufacturing environments to address scalability, yield and reproducibility.

  • Ferroelectric Memory Company

    Participated · Series C · Nov 2025

    Founded in 2016, Ferroelectric Memory Company (FMC) designs and markets DRAM+ and 3D CACHE+ memory solutions that replace conventional volatile memory to cut energy use and boost speed in AI data centers and edge devices. Leveraging hafnium-oxide ferroelectric cells, its chips can more than double system efficiency and processing speed compared with incumbent products. The company operates a fabless model, partnering with leading DRAM makers and advanced logic foundries for high-volume 300 mm production. FMC positions its technology to become a new standard in the €100 billion-plus global memory market and to strengthen Europe’s semiconductor sovereignty. With pilot results showing design wins at major OEMs, it is now moving toward full commercialization and global expansion. Financially, FMC has just secured €100 million in new capital—€77 million in Series C equity and €23 million in public funding—bringing substantial resources to accelerate product rollout.

  • Noble Gas Systems

    Participated · Series B · Mar 2025

    Noble Gas Systems, based in Wixom, Michigan, develops and manufactures conformable high-pressure, lightweight storage and delivery systems for compressed gases including hydrogen, natural gas, air, oxygen and nitrogen. The company raised $4.2M in a Series B financing. Its gas storage system can be fabricated in a variety of shapes and sizes to be integrated into existing product configurations. Target end markets include transportation, defense, aviation, marine and industrial gas industries. Noble Gas recently relocated to a 32,000 sq. ft. facility in Wixom to consolidate commercial and manufacturing operations as its world headquarters. A pilot manufacturing plant is in development to produce vessels for low-production-volume projects and the company plans to expand its research and development teams. Noble Gas Systems develops and manufactures high‑pressure hydrogen gas storage tanks. Its tanks are comprised of a polymer liner, woven reinforcement and a protective outer shell. The systems can accommodate hydrogen, natural gas, air, oxygen and nitrogen. Storage systems can be fabricated in a variety of shapes and sizes to integrate into unique and existing product configurations. The technology has applications in transportation, defense, aviation, marine and industrial gas industries. The company raised $3.5M in a Series A to support commercialization of its 350 bar (5,000 psi) systems and accelerate development of its 700 bar (10,000 psi) technology; Chris Kondogiani is CEO.

  • 44.01

    Participated · Series A · Jul 2024

    44.01 develops mineralisation technology that accelerates the natural process of turning captured CO2 into stable rock, achieving permanent removal in less than twelve months. The company says its approach can be deployed where mafic and ultramafic rock formations exist, which are found on every continent, enabling global scalability. 44.01 has completed pilot projects in Oman and the UAE and won the Earthshot Prize in 2022; its Project Hajar was also named an XPRIZE Carbon Removal Top 20 Finalist. The business raised a $37M Series A to continue refining its technology, build commercial‑scale projects, and expand international deployment. The funding round signals investor confidence and will support commercialization and modular project rollouts as an alternative to conventional geological carbon storage. 44.01 is building a system to mineralize CO2 by accelerating the natural reaction between carbonated water and peridotite to produce calcite. Its approach uses engineered boreholes to maximize rock surface area and cyclic injection of highly carbonated water with no catalysts or toxic additives. The company is working the logistics side to minimize operational emissions, including a biodiesel supply line with Wakud and nighttime solar offset plans. A scientific committee including Peter Kelemen and Juerg Matter advises the effort, and 44.01 is partnering with Climeworks and other carbon‑capture companies to source CO2. The initial work is focused on the large exposed peridotite deposits on Oman's northern coast, with a possible first commercial site across the border in the UAE. The seed funding is intended to secure permits, studies and demonstration equipment; the company acknowledges the $5M is far short of building full commercial operations.

  • Qlower

    Participated · Series B · Apr 2024

    HYSETCO is described as a pioneering startup in hydrogen mobility. The company operates in the environment and mobility sectors and follows a BtoC strategy. It was founded by Loïc Voisin. HYSETCO raised €200,000,000 in a Series B financing. Investors in the round are Hy24, Eiffel Investment Group, Raise Impact, Air Liquide Venture Capital and Total Energy Ventures. The raise was reported in Eldorado.co's weekly roundup of French Tech fundraises.

Team