About Us

Tüpraş is Turkey's largest industrial enterprise, Europe's seventh largest refinery, and the 30^th largest globally. Tüpraş Ventures was established at the end of 2022 as a wholly-owned subsidiary of Tüpraş. Tüpraş Ventures invests in, partners with, and supports startups in the field of energy transition solutions and solutions that contribute to sustainable production. Our primary geographic focus areas are North America and Europe. Most direct investments are in companies at the early growth stage with products on the market or close to launch.

Tüpraş established an Innovation Department in early 2017 and has engaged with startups ever since.

We accelerate the startups' development through

Partnerships

Partnership POCs, pilots, and commercial agreements with startups.

We are open to strategically collaborating with startups and providing an environment to deploy their technologies. Our experts from various departments are experienced in engaging with startups. We have a dedicated team that is in charge of implementing startup technologies. Tüpraş has successfully tested numerous startup technologies on refineries, and we have several co-innovation projects with startups as well.

Technical and sector expertise

Technical experts from a broad range of departments are ready to assist startups through their extensive technical and industrial knowledge. Additionally, we engage with different universities through technology development projects. We have data analytics and energy centers at Turkey's most prestigious universities [Tüpraş İTÜ and ODTÜ Data Analytics Centre; KUTEM (Koç University—Tüpraş Energy Center)]. We have one of the largest energy R&D centers in the region with a competent team of researchers, robust laboratory infrastructure, and effective internal and external cooperation.

International R&D Projects

Our teams have experience working on R&D&I projects with international technology partners. Our company received the overall highest grant among Turkish companies in the Horizon 2020 Program.

Startup Programs

Tüpraş managed or participated in 15 startup programs and platforms in Turkey and has a presence on international platforms and programs.

Our Team

Investment Committee

Responsible for signing off investment decisions

İBRAHİM YELMENOĞLU

CEO

DETAILS

Doğan KORKMAZ

CFO

DETAILS

Murat ŞİMŞEK

Assistant General Manager

DETAILS

Levent ZAĞRA

Assistant General Manager

DETAILS

MAHMUT ÖZDEMİR,PH.D.

Koç University Entrepreneurship Research Center Director

FUNDA
ÇETİN

Head of Innovation
and Venture Capital

Startup Evaluation Committee

Responsible for confirming no-show-stopper objections and screening the startups regarding focus areas, strategic fit, and overall technical and commercial quality.

FUNDA ÇETİN

Head of Innovation
and Venture Capital

ÇAĞATAY ÖLKEN

Head of Strategy and Sustainability

ERSEN ERTAŞ

Head of R&D

Emre ÇELEBİ

Head of Operational Reliability

ÖZGÜR ÇETİN

Head of Technical Services

Haldun SELİK

Head of IT

Arda Yıldırım

İzmit Refinery Manager

DETAILS

Volkan DEMİRTAŞ

İzmir Refinery Manager

DETAILS

Tolga Temur

Kırıkkale Refinery Manager

DETAILS

Ahmet Cemil Karaoğuz

Batman Refinery Manager

DETAILS

İBRAHİM YELMENOĞLU

CEO

İbrahim Yelmenoğlu graduated from the Faculty of Political Sciences at Ankara University in 1991 and received his MS in Finance from the University of Illinois in 2003. Starting his career in 1987 at the Ministry of Finance, Mr. Yelmenoğlu worked at the Board of Tax Auditors in 1992. In 2004, he started to work at Koç Holding A.Ş. and served as Internal Audit Coordinator until 2006.
Following the privatization of Tüpraş and the transfer of 51% of Tüpraş’s shares to Koç Holding, he was appointed as CFO of Tupras and served in this position from January 27, 2006, to December 31, 2015. He was appointed as Tüpraş General Manager on January 1,2016.
He was born in Sungurlu in 1971, speaks English.

Levent ZAĞRA

Assistant General Manager

Levent Zagra started his career at Koç Holding Strategic Planning Department in 1996. He was appointed as the General Manager of Promena Electronic Commerce in 2002. Prior to his current role Zagra served as the Energy Group Coordinator at Koç Holding. He was appointed as the Assistant General Manager for Investment and Planning at Tüpraş in April 2016.
Zagra is a magna cum laude graduate of Worcester Polytechnic Institute and earned his MS and MBA from Cornell University.

Arda YILDIRIM

İzmit Refinery Manager

He started his professional life at Tüpraş İzmit Rafinery in 2006. He worked in Energy Production, Truck & Rail Loading Units as Operation Engineer and Energy Management Department as Process Chief. He was transferred to İzmir Refinery in 2010 and worked as an Operation Superintendent. He served at Technical Services Department of Tüpraş General Management as a Process Superintendent in 2012. Between years 2013 to 2015, he was in charge as Process Superintendent of Delayed Coker and Vacuum Distillation Units during the project evaluation, commissioning and start up phases of Residuum Up-grading Project (RUP) in İzmit Refinery. In 2015, he was appointed to Kırıkkale Refinery and served as Production Manager after September 2015. Arda Yıldırım, who served İzmir Refinery Manager as of February 2018, was appointed as İzmit Refinery Manager as of January 22, 2024. Arda Yıldırım is a Chemical Engineering graduate of Boğaziçi University and he has completed his MBA in Koç University in 2015.
He was born in Malatya in 1982

Volkan DEMİRTAŞ

İzmir Refinery Manager

He started his Professional life at Makplast in 2004 as Operation Engineer. In 2005 he continued his Professional life at Kordsa as Engineer. His first working place in Tupras is İzmit Refinery in 2008. He worked in Energy Production and Production departments as Operation Chief, Operation Superintendent and Process Superintendent. He was appointed to İzmir Refinery as Utilities Plants Production Manager in 2015. Volkan Demirtaş moved to Production Group Manager in 2017 at İzmir Refinery and in 2021 he moved back to İzmit Refinery as Production Group Manager. Demiştaş, who served as Batman Refinery Manager as of January 2023, was appointed as İzmir Refinery Manager as of Januray 22, 2024.
Volkan Demirtaş is a Chemical Engineering graduate of Hacettepe University and he has completed Fuel and Energy Technologies graduate programme in Boğaziçi University.
He was born in Karabük in 1980

Tolga Temur

Kırıkkale Refinery Manager

Tolga Temur began his career at İzmit Refinery in 2008. He worked in Crude/Vacuum distilation and FCC units as operations and process engineer until he was appointed as Operations Superintendent in 2013. As of 2015, he served as Operations Superintendent at Platformer and Hydroprocessing units. From 2017 to 2019, he served as Senior Process Engineer responsible for Crude/Vacuum Distillation units. In 2019, he was appointed as Operations Manager and Operations Group Manager in 2023.Temur has been serving as the İzmit Refinery Production Group Manager since January 2023, and he took on the role of Kırıkkale Refinery Manager on January 22, 2024.
Temur graduated from Boğaziçi University's Department of Chemical Engineering in 2008. He completed his master’s degrees at Boğaziçi University’s Fuel and Energy Technologies Program in 2011 and Koç University’s Executive MBA Program in 2018.
Born in Kayseri in 1984

Ahmet Cemil Karaoğuz

Batman Refinery Manager

Ahmet Cemil Karaoğuz began his career at İzmit Refinery in 2007. He worked as an Operations Engineer, Operations Chief Engineer, Operations Superintendent, and Production Manager in different departments of the production unit at the same refinery until 2020. From 2009 to 2012, he worked on the Gasoline Specifications Improvement Project, Kerosene Sweetening Project, and LPG Selective Hydrogenation Units commissioning teams. He took on the role of RUP Production Manager in 2017 and Process Manager of İzmit Refinery in 2020.
Karaoğuz has been working as the İzmir Refinery Production Group Manager as of December 2021 and was appointed Batman Refinery Manager as of January 22, 2024.
Karaoğuz graduated from Hacettepe University’s Department of Chemical Engineering in 2005. He attained his master’s degree by completing Boğaziçi University’s Fuel and Energy Technologies Program in 2009 and Koç University’s Executive MBA Program in 2019.
Born in Ankara in 1983

DOĞAN KORKMAZ

CFO

Doğan Korkmaz started his professional career with the Koç Holding Management Trainee program in 1996 and worked in Arçelik's Investment Finance Department at the same time. He held Corporate Finance and Financial Markets Strategist positions at Arçelik until 2007. In 2007, he became the Treasury and Capital Markets Manager of Arçelik. In 2009, he became Finance Director at Beko plc, Arçelik's U.K. subsidiary. In 2012, he became Arçelik's Finance Director. Korkmaz graduated from the Department of Business Administration at Dokuz Eylül University in 1996. He received his MBA from Koç University in 2007 and earned the Oxford Executive Diploma in Global Business in 2013. As of January 1, 2016, he was appointed Assistant General Manager in charge of Finance of Tüpraş. Korkmaz was born in İstanbul in 1974, speaks English.

Murat ŞİMŞEK

Assistant General Manager

Murat Şimşek started his professional life in 2000 as a project engineer at Amity Oil International, which operates in the field of oil&gas exploration and production. During the years that continued until 2008, he worked within various petrochemical, pipeline, and refining engineering projects. In 2008, he started working as Investments Chief Engineer at Tüpraş İzmir Refinery, between 2010 and 2012 he worked as Head of Inspection Department at the same refinery. In 2012 he continued his career at Izmit Refinery as RUP QA / QC Manager. From January 2016 on, he became Operational Reliability and Integrity Director at Tupras Head Office.
Şimşek, was appointed as Batman Refinery Manager as of August 2020, who served as Kırıkkale Refinery Manager as of January 2023, was appointed as Assistant General Manager in charge of Technical Affairs as of January 22, 2024.
He holds a Bachelor’s degree in Mechanical Engineering from Gazi University. He received his MBA from Koc University in 2013.

About Us

We accelerate the startups' development through

Focus Areas

ENERGY TRANSITION

SUSTAINABILITY

OPERATIONAL EXCELLENCE

Our Team

Investment Committee

İBRAHİM YELMENOĞLU

CEO

Doğan KORKMAZ

CFO

Murat ŞİMŞEK

Assistant General Manager

Levent ZAĞRA

Assistant General Manager

MAHMUT ÖZDEMİR,PH.D.

Koç University Entrepreneurship Research Center Director

FUNDA ÇETİN

Head of Innovation and Venture Capital

Startup Evaluation Committee

FUNDA ÇETİN

Head of Innovation and Venture Capital

ÇAĞATAY ÖLKEN

Head of Strategy and Sustainability

ERSEN ERTAŞ

Head of R&D

Emre ÇELEBİ

Head of Operational Reliability

ÖZGÜR ÇETİN

Head of Technical Services

Haldun SELİK

Head of IT

Arda Yıldırım

İzmit Refinery Manager

Volkan DEMİRTAŞ

İzmir Refinery Manager

Tolga Temur

Kırıkkale Refinery Manager

Ahmet Cemil Karaoğuz

Batman Refinery Manager

INVESTMENT PORTFOLIO

NEWS

2023

If your technology can bring value to any of our focus areas, apply below

contact us

FUNDA
ÇETİN

Head of Innovation
and Venture Capital

Head of Innovation
and Venture Capital