Decarb Weekly 4/11/24 (copy 01)

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: 

iShares Global Clean Energy ETF (ICLN) vs. S&P 500 Energy Sector ETF (XLE) – Past 5 Years – Bespoke

Recent Market News:

• The Advanced Research Projects Agency-Energy will award nine projects a total of $28 million in a new round of federal funding. The initiative aims to spur solutions that can eliminate carbon dioxide emissions from the ironmaking process and sharply reduce emissions across the entire steel supply chain. – Canary Media
• Bay Bridge Ventures, a relatively new venture capital firm, raised a $200 million fund broadly aimed at funding sustainability startups. – TechCrunch
• Oil and gas corporations are deploying capital at early-stage climate technologies like direct air capture and nuclear fusion. Chevron in particular has just raised a $500 million Future Energy Fund III. – Pitchbook

Transactions:

• 4/18/24: Huston-based White Deer Energy extended its ownership of Flogistix through a $240 million investment from GCM Grosvenor. Flogistix is a methane capturing company. – WSJ
• 4/18/24: Energy veteran, Nat Bullard, has raised $10.8 million in seed funding for Halcyon, an AI-driven energy transition analysis platform. – Axios
• 4/17/24: Found Energy, a startup releasing energy embodied in aluminum, raised an oversubscribed $12 million seed round. The firm plans to initially use scrap aluminum to produce carbon negative industrial heating. – TechCrunch
• 4/12/24: Nexamp, a community solar developer and project owner, raised $520 million to build community solar by the gigawatt. – Canary Media

Deep Dive:
Major Drivers of Long-Term Distribution Transformer Demand – NREL

Podcast:
Everything you wanted to know about carbon removals but were afraid to ask – The McKinsey 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.