Decarb Weekly 11/7/24

Decarb Weekly, by Industria Partners, is a collection of articles focusing on trends and transactions in industrial decarbonization and climate tech.

Chart of the Week:

Climate tech deals with participation from select energy majors, 2020-2024YTD – CTVC

Recent Market News:

• Avangrid and Invenergy purchased leases in the Gulf of Maine. The Bureau of Ocean Energy Management estimates the leases have the potential to generate about 6.8 gigawatts or enough electricity to power 2.3 million homes via offshore wind. – Heatmap
• Canada is implementing a cap-and-trade system to reduce carbon emissions from the oil-and-gas sector by 35% below 2019 levels, aiming to finalize the plan next year with a phased implementation from 2026 to 2029. Officials believe the regulations will support growth among producers while encouraging investment in pollution-reducing technology. – WSJ

Transactions:

• 11/4/24: Transaera, a tech company innovating in energy-efficient cooling and dehumidification, has secured $8.2 million in seed funding and $2.3 million in non-dilutive grants from the U.S. Department of Energy. – Clean Energy Ventures
• 10/30/24: CREW Carbon, a Brooklyn, NY-based startup focused on removing biogenic CO2 from wastewater treatment facilities, raised $5.3 million in seed funding. – Finsmes
• 10/30/24: Verdane Idun II has successfully closed at its €700 million hard cap, focusing on investments in energy transition and resource efficiency, more than doubling the size of its predecessor and marking Verdane’s third successful final fund close in the past 12 months. – Verdane
• 10/24/24: Socium Ventures, a venture and growth investment firm, announced a $300 million second fund from Cox Enterprises, bringing its total managed capital to $600 million, to invest in technology-led growth sectors with strategic and operational support. – Financial Times

In-Depth Read:
PitchBook Analyst Note: Infrastructure Funds Fuel the Energy Transition

Podcast:
How to build a company that can save the world and generate a profit – TechCrunch

Industria Partners provides focused strategic advisory services to industrial, climate, infrastructure, and energy companies at every point across the business cycle. Through industry connectivity, transaction experience, and expert execution, Industria delivers superior outcomes to its clients.