With a new taskforce working towards developing global climate taxes, possibilities and challenges ahead are seemingly endless. As COP28 drew to a close in Dubai, many were buoyed by the official final text, which explicitly highlighted the importance of transitioning away from fossil fuels for the first time. Several new funding pledges were also made to boost existing levels of…
Fast Charging EV Network Provider Electra Raises $330 Million
Electric vehicle fast-charging provider Electra announced today that it has raised €304 million (USD $330 million) in equity funding. The company plans to use the funds to support its goal to install 2,200 stations with 15,000 charging points in Europe by 2030. The fundraising marks the largest in the charging sector to date in France, and the second-largest in Europe….
Clean Energy Tech Startup Aira Raises €145 Million to Accelerate Residential Heating Electrification
Clean energy tech startup Aira announced today that it has raised €145 million (USD$158 million) in its Series B financing round, aimed at accelerating electrification and reducing the use of gas in residential heating in Europe. According to Aira, the financing round was significantly oversubscribed, and was upsized from an initially targeted €85 million. Founded in 2022 by impact company…
KIRCHHOFF Signs €130 Million Green Steel Supply Deal with H2 Green Steel
Global automotive supplier KIRCHHOFF Automotive announced today a seven-year, €130 million agreement with Swedish company H2 Green Steel for the delivery of near zero emissions steel in order to decarbonize its supply chain and achieve its sustainability goals. Steel is the main component of KIRCHHOFF Automotive’s supply chain, accounting for half its material purchases, with 90% of the company’s carbon…
$4 Trillion Investor Group Urges Shell to Set Paris-Aligned Scope 3 Emissions Target
A group of 27 institutional investors representing more than $4 trillion in assets under management announced today that they have co-filed a shareholder resolution at Shell, urging the energy giant to set Paris Agreement-aligned medium-term target to reduce emissions arising from the use of its products. The resolution, led by oil and gas-focused shareholder activist group Follow This, was filed…
Northvolt Signs Record $5 Billion Green Loan to Scale Circular Gigafactory
Battery manufacturer Northvolt announced today that it has raised $5 billion through the largest-ever green loan in Europe, with proceeds from the financing aimed at expanding its Northern Sweden-based lithium-ion battery gigafactory and battery recycling facility. The green loan was provided by a consortium including 23 commercial banks, in addition to the European Investment Bank (EIB) and the Nordic Investment…
General Atlantic Acquires Sustainable Infrastructure Investor Actis
Global growth equity investor General Atlantic announced today the acquisition of sustainable infrastructure investor Actis. Following the acquisition, Actis will become the sustainable infrastructure arm within General Atlantic’s global investment platform. The move marks the latest in a series of moves by major asset managers to boost their capabilities to target a rapidly growing infrastructure opportunity set driven by themes…
Energy Storage Startup Tiamat Raises €22 Million for Lithium-free Battery Tech, Backed by Stellantis, Arkema, MBDA
Battery technology startup Tiamat announced that it has raised €22 million, with proceeds aimed at developing and commercializing its lithium-free sodium-ion battery technology. Established as a spin-off from France’s Centre National de la Recherche Scientifique (CNRS) in 2017, Tiamat designs, develops and produces solutions for energy storage applications. The company’s sodium-ion technology offers strong properties for power applications, including fast…