Decarb Weekly 9/14/23

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: 

Renewables’ decade-long cost declines showing signs of fatigue – RBC

Recent Market News:

• Amazon has purchased credits tied to the removal of 250,000 metric tons (or roughly $150 million credits) of carbon dioxide over ten years. The credit purchase from Occidental shows the growing trend of large cap companies buying into the decarbonization market. – WSJ
• Woods Mackenzie suggests US renewable energy generation could triple to 110 gigawatts by 2033 as clean-energy law powers more investment in the sector. The research firm said IRA could significantly reduce carbon emissions and result in a 60% carbon-free power sector by 2032. – Reuters 

Transactions:

• 9/13/23: Mighty Buildings, a startup decarbonizing home building through 3D printed prefab homes, raised $52 million in venture funding. – TechCrunch
• 9/7/23: In the largest private equity deal in Europe of 2023, H2 Green Steel raised €1.5 billion to deliver steel with up to 95% less CO2 emissions compared to steel produced with traditional blast furnace technology. – H2 Green Steel
• 9/6/23: Ascend Elements raised $542 million on the heels of Redwood Materials $1 billion raise. The acceleration of funding for battery technology reflects the growing investor sentiment for US based storage technology. – Canary Media
• 9/6/23: Boston Metal raised $262 million in Series C funding to continue the firm’s push into decarbonizing the steel industry. – Boston Metal

Podcast:
What’s more venture capital than space lasers? – Equity by TechCrunch
In-depth Read:
Climate Signals: Your Weekly Climate Briefing – RBC

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.