Automotive giant Volkswagen Group and electric vehicle producer Rivian announced today plans to launch a new joint venture, aimed at developing next-generation electrical architecture and software technology to be used in each of the companies’ electric vehicles. As part of the new transaction, Volkswagen announced that it will invest $5 billion into Rivian, including $3 billion in corporate equity investments…
The government of Canada passed a series of new rules into law aimed at tackling greenwashing, or unsupported claims by companies about the environmental benefits of their products or business activities. The new laws were passed as part of amendments made to Canada’s Competition Act, based on proposed changes introduced in the Government’s Fall Economic Statement in November 2023, which…
Floating offshore wind technology startup Aikido Technologies announced that it has raised $4 million in a Seed series investment round, with proceeds to be used to build its team and develop, and for the development of a new offshore pilot project. Floating wind technology can be installed in deeper waters than fixed wind turbines, allowing the projects to be installed…
Pension investment firm APG announced today a $400 million investment in U.S. renewable energy and storage developer Doral Renewables, aimed at accelerating the development and construction of Doral’s renewable energy pipeline. Based in Philadelphia, Doral Renewables is an Independent Power Producer (IPP), partnering with U.S. farm communities to build large-scale, greenfield projects to advance the energy transition, with a focus…
Alternative asset and private equity investor KKR, and Spanish renewable developer IGNIS today announced that they will launch a new Power-to-X (P2X) platform to develop primarily green hydrogen and ammonia projects, for industrial applications in hard-to-abate sectors. According to KKR and IGNIS, the new platform will develop traditional renewables, largely wind and solar, associated with hydrogen and ammonia projects. It…
Carbon dioxide removal (CDR) solutions provider Neustark announced today that it has raised $69 million in an equity funding round led by Decarbonization Partners, a climate tech-focused growth equity investment partnership between BlackRock and Temasek. The company plans to use the funds to expand its team, enhance its offerings and expand geographically to meet the increasing global demand for CDR….
The European Central Bank (ECB) announced today the publication of a new set of climate-related financial disclosures, providing information on the carbon footprint of its portfolios and their exposure to climate risks, indicating that the carbon intensity of its €367 corporate bond portfolio has declined by 35% from 2021 to 2023. The report marks the second set of climate-related disclosures…