Decarb Weekly 12/14/23

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: 

CO2 emissions from burning fossil fuels have reached a new record – Financial Times

Recent Market News:

• For the first time, more than 190 governments at COP28 approved an agreement Wednesday (12/13) calling for the world to transition away from fossil fuels. The agreement seeks to ramp up renewable energy, such as wind and solar, by 2030. – WSJ 
• Combined power generated by wind and solar is slated to eclipse coal-fired electricity next year. – Axios
• The US Department of Energy announced up to $890 million in funding for decarbonization projects located in California, North Dakota, and Texas. The DOE’s Carbon Capture Demonstration Projects Program aims to advance integrated carbon capture, transport, and storage technologies. – Energy.gov

Transactions:

• 12/14/23: Ara Partners closed an oversubscribed $3 billion fund dedicated to investing in the decarbonization of the industrial economy. The fund’s initial target was $2 billion. – Private Equity Wire
• 12/12/23: Bain Capital is selling Japan Wind Development to Infroneer for $1.4 billion. JWD has been under Bain’s ownership for eight years and operates 293 wind turbines. – WSJ
• 12/12/23: Quaise Energy, a geothermal startup, raised $13 million of an expected $25 million funding to strengthen its supply chain. – TechCrunch
• 12/11/23: Fourth Power, a thermal battery storage startup, raised $19 million in Series A funding less than a year since its founding. – TechCrunch 

In-depth Read:
Renewable energy access, trade protection essential to decarbonize: US aluminum industry – S&P Global 

Podcast:
Getting serious about scale – The Carbon Removal Show

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.