Air Liquide has acquired stakes in France-based energy technology companies through its Aliac investment subsidiary.

Aliad, the corporate venturing arm of France-based industrial gases company Air Liquide, has invested undisclosed amounts in three France-based companies: McPhy Energy, Solumix and Xylowatt.

Air Liquide acquired stock issued by hydrogen generation equipment producer McPhy Energy in its flotation on the Euronext Paris stock exchange, which raised €32m ($40m). McPhy had raised €15.3m through 2010 from power producer Areva, Emertec, Gimv, Sofinnova Partners and and Amundi Private Equity Funds.

The investment in Solumix, the developer of an insulation material for construction, will give Air Liquide access to insulating construction material and enable it to build on its own patents related to porous materials.

Xylowatt, a spin-out of Catholic University of Louvain, is commercialising technology to produce clean synthesis gas from solid biomass as a source for renewable energy. Air Liquide will advance research and development of the technology and will also be able to offer its own industrial customers access.

Air Liquide set up Aliad to identify and invest in startups focused on energy transition, natural resources management, healthcare management, healthcare technologies, digital technologies, electronics and IT.