AI-supported building retrofit provider ecoworks announced today that it has raised €40 million, with proceeds aimed at supporting the growth of its climate neutral renovations solutions business. Founded in 2018, Berlin-based ecoworks plans designs and installs prefabricated facade and roof elements, utilizing an AI-supported digital planning solution, enabling rapid apartment building retrofits to a NetZero standard. The company’s solution digitally…
Boston Consulting Group (BCG) announced today a purchase agreement with Direct Air Capture (DAC) company Climeworks. Spanning 15 years, the agreement is the largest corporate purchase announced to date by Climeworks at 80,000 metric tons of CO2 removal. DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts CO2…
Industrial decarbonization-focused private equity investor Ara Partners announced that it has closed on more than $3 billion in new capital commitments, and concluded fund raising for its third fund, Ara Fund III. With commitments of $2.8 billion, the oversubscribed Fund significantly exceeded its initial $2 billion target. Ara’s predecessor fund, Ara Fund II, closed in September 2021 at approximately $1.1…
Lawmakers in the European Parliament and Council announced today that they have reached a provisional agreement on the EU’s proposed corporate sustainability due diligence directive (CSDDD), outlining rules for companies requiring large businesses to assess and address adverse human rights and environmental impacts in their value chains. The agreement follows the release of a proposed CSDDD directive by the European…
CO2 utilization company Dimensional Energy announced today that it has raised $20 million in a Series A funding round, with proceeds to be used to accelerate the production of sustainable aviation fuel, and other industrial decarbonization-focused initiatives. Founded in 2014, Ithaca, New York-based Dimensional Energy uses captured CO2 to produce fuels and product materials that would otherwise utilize fossil fuels…
Paris-based global bank BNP Paribas announced today the launch of BNP Paribas Climate Impact Infrastructure Debt, a new fund aimed at financing climate change mitigation, and supporting energy transition projects across continental Europe. The fund is targeting €500-750 million from institutional investors, including a seeding commitment from BNP Paribas’ insurance business BNP Paribas Cardif. Olivier Hereil, Deputy CEO for Asset…