Decarb Weekly 8/24/23

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:

State-level action required to close the gab on US climate goals – Canary Media

Recent Market News:

• While the economics and viability of technology to remove carbon from the atmosphere at scale remain uncertain, what has become clear this year is that carbon removal is now the realm of giant companies and big government support. – WSJ
• Traders in CO2 credits left with vast stranded-asset pile, as millions of carbon credits lie dormant on traders’ accounts. Traders at Trafigura, the world’s largest trader of carbon-removal credits, as well as a number of other major carbon traders, are finding that the offsets they bought may now be worthless. – Bloomberg
• Plant-based plastic production is growing at record rates as companies pursue sustainability goals. These bioplastics, which are typically 50-80% more expensive than traditional plastics, are on track to reach 3% of global plastic production, up from 1%. – WSJ

Transactions:

• 8/24/23: Denver-based “energy-as-a-service” firm Redaptive secured $125 million in funding from Deutsche Bank’s Infrastructure Group. The money will be used to further its energy efficiency services and installations. – Canary Media
• 8/24/23: ENGIE has acquired Houston-based Broad Reach Power from private equity firm EnCap for a total equity value that exceeds $1 billion. The sale to ENGIE includes 350 MW of grid-scale battery assets and 880 MW of assets under construction. – Business Wire

Podcast:
Navigating the Electrification Gauntlet – Catalyst with Shayle Kann

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.