Decarb Weekly 9/5/24

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, utilization, and storage is on a trajectory of exponential growth, but only small volumes are committed to date – McKinsey

Recent Market News:

• CarbonCapture Inc. announced a pause in its development of Project Bison, a direct air capture site in Wyoming. CarbonCapture plans on moving the project to another state citing high competition for renewable energy from rapidly growing data centers. – Carbon Herald
• The U.S. Department of Energy released the 2024 U.S. Energy and Employment Report which showed that of the 250,000 jobs added in energy, 56% of those were in the clean energy sector. – Energy.gov

Transactions:

• 9/5/24: Bank of America is providing $205 million in exchange for tax credits to finance carbon capture at an ethanol plant in North Dakota. – WSJ
• 9/4/24: SET Ventures raised a $200 million fund aimed at renewable energy and decarbonization through digital technology. – TechCrunch
• 8/27/24: Thermal energy storage startup, Calectra, raised $1.6M in pre-seed financing. The funding was bolstered by a $400,000 grant from the state of New York. – Mercom

In-Depth Read:
The Energy Transition: Where are we really? | McKinsey

Podcast:
Frontier Forum: How rates will make or break the energy transition – The Carbon Copy 

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.