The British energy company Shell plc is reviewing parts of its Shell Ventures portfolio and may sell some investments as it reassesses its low-carbon strategy.The review could lead to divestments in select start-ups and early-stage firms, while the company plans to retain a majority of its venture holdings.
Shell Ventures, founded in 1996, invests in companies focused on areas such as renewable energy, emissions management, and mobility solutions.
Initial venture investments typically range from $2 million to $5 million, with potential commitments reaching up to $25 million over a company’s lifecycle, according to Shell’s disclosures.
Sources said the review aims to find external investors better positioned to scale some portfolio companies, signaling a possible shift in strategy.
The move aligns with Shell’s broader effort under CEO Wael Sawan to prioritize profitability by reducing exposure to less lucrative low-carbon projects.
Shell has been pivoting toward liquefied natural gas trading and upstream operations while trimming certain renewable and emissions-focused investments.
The venture review comes as the company reported an 11% decline in fourth-quarter profit, the lowest in years, driven by weaker oil prices.
Despite the profit drop, Shell maintained its shareholder-friendly strategy, continuing a substantial share buyback program to return capital to investors.
The outcome of the review could reshape Shell’s innovation footprint as energy companies balance sustainability ambitions with financial discipline.