Decarb Weekly 12/13/22

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: 

Funding activity in climate tech, November 2022. – Net Zero Insights 

Recent Market News: 

• The United States has only added 4.6 GW of new solar capacity in the third quarter of 2022 due to supply chain constraints and trade disputes. These delays are expected to cause a 23% decline in solar installations this year compared to 2021. – Renewable Energy World  
• Swiss conglomerate ABB Technology Ventures was among the most active financiers that collectively put $10.7 billion into climate tech businesses in the third quarter of 2022. ABB has provided ten checks to startups totaling over $100 million in 2022 and has recently backed Tallarna, a data analytics firm that helps companies manage energy projects. – Bloomberg 
• The US Department of Energy has issued a $2.5 billion loan to EV battery maker Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution. The loan will help finance the construction of three new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan. – Energy.gov 

Transactions:

• 12/7/22: GoBolt, a third-party logistics provider, has raised $75 million in series C Financing, bringing the total funds raised to more than $222.5 million. GoBolt plans to build the world’s largest sustainable, vertically integrated supply chain network for national and global brands. – Cision PRNewswire 
• 12/7/22: First Mode has signed an agreement to combine with Anglo American’s nuGen zero-emission haulage solution to accelerate the transition of mining and other heavy industries to diesel-free futures. The transaction values the new business at $1.5 billion, includes a $200 million equity injection from Anglo American, and is expected to close in January. – Cision PRNewswire 

In-Depth Read:
Tech’s climate commitment: Organizational and personal impacts are pushing tech leaders toward faster climate action published by Deloitte
Podcast:
Carbon Solutions Now and Next: From Biomass to Mineralization produced by a16z Podcast 

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.