The corporate fund Orlen VC, owned by PKN Orlen, has completed its fifth and largest direct investment so far – in the platform of the French company Shippeo, which allows for more efficient management of logistics processes in companies operating in almost every industry, the company announced. Orlen VC closed the first year of operation with seven capital investments in the total amount of over PLN 150 million.
“In the first year of its operation, our corporate fund Orlen VC built a portfolio consisting of five technology companies from all over Europe and two foreign investment funds. Thus, we joined the list of not only the largest, but also the most active investment funds in the region of Central and Eastern Europe. We are constantly looking for interesting investment opportunities to support the development of the combined group and develop innovation and technologies in each business segment,” said Daniel Obajtek, CEO, quoted in the release.
The technology of the French company Shippeo offers a wide range of functionalities and tools that, within one platform, help to create more efficient, automated and sustainable supply chain management processes, increasing cooperation between all parties involved.
“We see how logistics processes at PKN Orlen are becoming more and more complex. This is a significant challenge, especially in view of the merger with Grupa Lotos and PGNiG. Orlen VC’s investment in technologies enabling better visibility in the supply chain can help us deal with these challenges more effectively. Increased supply chain visibility is key to better managing our operations and optimizing processes. The implementation of this type of solution in the Group may translate into greater efficiency and effectiveness of our operations,” added Marek Garniewski, President of Orlen VC.
The PKN Orlen Group manages refineries in Poland, the Czech Republic and Lithuania, conducts retail operations in Central Europe, mining operations in Poland, Norway, Canada and Pakistan, as well as energy production, including renewable energy sources, and natural gas distribution. As part of building a multi-energy concern, the company finalized the acquisitions of Energa, Grupa Lotos and PGNiG. Its consolidated sales revenues reached PLN 131.5 billion in 2021. The company has been listed on the Warsaw Stock Exchange since 1999.