Decarb Weekly 7/20/23

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: 

Carbon Capture & Removal Must be Included in the Net Zero Equation – Svante 

Recent Market News:

• DTE Energy pledged to spend $11 billion on clean energy construction over the next 20 years. DTE joins several other national energy firms in significant pushes into renewable energy. – Canary Media
• Azolla Ventures, a climate tech-focused firm announced a $239 million blended fund pulling from philanthropists to extend funding to pre-seed and seed companies that may be overlooked by traditional venture funding. – TechCrunch

Transactions:

• 7/18/23: Sylvera has raised $57 million in series B funding. Sylvera is a startup whose mission is to provide data and ratings on carbon offset projects to push investment into projects with the best credibility for carbon sequestration. – TechCrunch
• 7/17/23: Buckeye Partners has acquired Elysian Carbon Management from EnCap Flatrock Midstream. Elysian provides integrated end-to-end carbon capture and storage solutions to industrial, power, and similar facilities. – Buckeye Partners
• 7/13/23: Exxon Mobil is paying almost $5 billion to buy Denbury, a pipeline operator that moves carbon dioxide. The purchase reflects Exxon’s increasing focus on the energy transition. – WSJ
• 7/13/23: Anvos, an LA based hybrid direct air capture startup, has raised $80 million in funding. – Forbes

In-Depth Read:
Carbon Removal: essential driver in the race to net zero
Podcast:
Our favorite climate numbers – Zero: The Climate Race | Bloomberg

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.