Katherine Keddie 🟢’s Post

📣 Mirova exceeds €200 million in commitments for the final closing of its first private equity fund - Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, announces the final closing of its first impact private equity fund, Mirova Environment Acceleration Capital (MEAC). - In 2021, Mirova launched its dedicated impact private equity strategy, aiming to combine financial returns with support for the environmental transition. - Marc Romano, Head of Impact Private Equity, Mirova: “With this first private equity fund, we are proud to have delivered on our ambitions to invest in unlisted companies displaying a high environmental impact. - The strategy focused on deploying ‘acceleration capital’ to grow sustainable businesses by addressing key growth trends and supporting innovative solutions. - Two years after its launch, Mirova Environmental Acceleration Capital (MEAC) raised €211m in commitments, 30% of which came from private clients attracted by the fund's multi-thematic approach under SFDR Finance 🇪🇺 Article 9. - MEAC is based on five investment pillars: clean energy, circular economy, natural resources, agri-agro technologies, and smart cities. - The fund has already deployed over €80m in 10 companies across Europe and North America and completed one exit. - MEAC has been awarded the Greenfin label and is eligible for the Tibi initiative. - Following MEAC, Mirova launched a second private equity fund called Mirova Impact Life Essentials (MILE), focused on societal impact. - MILE aims to support French and European companies in four themes: knowledge & know-how, well-being & health, responsible consumption, and diversity & inclusion. - Mirova aims to provide institutional and retail investors with attractive long-term returns and risk diversification, contributing to ecological and social transitions. - MILE is intended to be positioned under SFDR Article 9, like Mirova's other strategies. - MEAC has invested in companies like: - Ombrea : specialized in crop management and protection against climatic hazards. - Tallano Technologies: patented system for capturing fine particles from braking systems. - Agronutris: biotech focused on producing insect proteins for aquaculture and pet food. - Vestack: expertise in low-carbon building design and construction. - Naïo Technologies: agricultural robotics to mitigate labor shortages. - Norsepower: mechanical sails for decarbonizing maritime cargo ships. - Nuventura: manufacturer of high-voltage switchgears with alternatives to pollutants like SF6. - Waste Robotics: autonomous robots for sorting centers. - NLine Energy, Inc.: developer of energy efficiency projects using backpressure turbine technology. - GridBeyond: virtual power plant operator helping decarbonize industrial energy mixes.

Happy Monday!   Let's dive into last week's climatetech activity (10/06 - 16/06) - Check out i3connect.com for more details on our research at Cleantech Group.     Ecosystem Highlights & News:   Beamline Accelerator opened applications for its new batch, funded by the Kliimaministeerium / Ministry of Climate of Estonia. The focus is on Estonian startups within construction, energy and climate resilience sectors, and €100,000 per startup (no equity taken).   Brookfield Asset Management announced its $5B climate 'Catalytic Transition Fund' for emerging markets.   New Zealand Agricultural Greenhouse Gas Research Centre's 2024 Innovation Fund is now open, with $2M available for agriculture projects with methane and/or Nitrous Oxide emission reductions.   Breakthrough Energy is partnering with the European Commission and the European Investment Bank (EIB) to ramp up the deployment and commercialisation of low-carbon technologies. The partnership will mobilize €820M in financing support between 2023-2027 for demonstration and FOAK stage projects.   Google has partnered with NVEnergy for a new, first-of-its kind "Clean Transition Tariff" power procurement structure.   Deals:   🌿 Agriculture & Food Downforce Technologies (UK), a soil-carbon measurement startup, closed $4.2M in funding to gear up for international expansion. The round was led by Equator.   ⚡ Energy & Power Long-duration energy storage startup Highview Power (UK) has secured £300M to build the first liquid air storage plant in the UK. The funding round was led by UK Infrastructure Bank, with participation from Goldman Sachs, Centrica and Rio Tinto.   ⚗ Materials & Chemicals Echion Technologies (UK), developing niobium-based battery materials, raised £29M in Series B funding to execute its go-to-market strategy. The round was led by Volta Energy Technologies, with participation from CBMM, BGF, and Cambridge Enterprise Ventures.   🌍 Resources & Environmental Management XOCEAN (IR), an ocean data collection and mapping platform, bagged €30M in an oversubscribed Series B round led by VentureWave Capital, alongside Endeavor Catalyst and Enterprise Ireland. Part of the investment includes €20M in venture-debt from the European Investment Bank (EIB).   🚢 Transport & Logistics Battery-swapping platform, Battery Smart (IN), raised $65M in Series B funding led by LeapFrog Investments and joined by Blume Ventures, Ecosystem Integrity Fund and others.   ♻ Waste & Recycling Eslando Circular Fashion, a circularity startup preventing textile-waste, has received £120,000 in pre-seed funding through Carbon13's Venture Launchpad, launched in partnership with Barclays Eagle Labs.   #startups #cleantech #netzero #carbonmanagement #climatetech #greeneconomy #electricmobility #Investments #climateecosystem #soilsequestration #recycledmaterials

📣 It was a pleasure to talk with VCwire.tech about Kiko Ventures and the opportunity in cleantech generally.    🚀 From how I started in sustainability, to some of the awesome portfolio companies that Kiko Ventures is privileged to back - including Bramble Energy Limited; Oxa and Vytal | The reuse system - we covered a lot of ground!    Read the full article here: 👉 https://lnkd.in/dMKkT_7N

Avaana Capital marks first close of Sustainability Fund at $135 Mn: Avaana Capital, a climate-focused venture capital firm, has closed its $135 million Avaana Climate and Sustainability Fund. Avaana Capital said the fund saw support from institutional investors, including the Green Climate Fund (GCF). Other key participants include U.S. International Development Finance Corporation (DFC), UK Government through UK- India Development Cooperation Fund (UKIDCF), the Self Reliant India (SRI) Fund and Small Industries Development Bank of India (SIDBI), Azim Premji Trust and several large corporations. The Mumbai-based firm will invest in early-stage companies that use technology to create scalable solutions for climate mitigation, and adaptation, and help India’s journey to net zero. Led by Anjali Bansal, Swapna Gupta, and Shruti Srivastava, the Avaana Climate and Sustainability Fund will also invest in tech-driven and innovative climate solutions. Its notable portfolio investments include Eeki Foods, Aerem, Kazam, and Sentra.world, FarMart, Eggoz, Ninety One 91, Turno and Terra.do. In June last year, Avaana Capital had raised $70 million for the first close of its Avaana Climate and Sustainability Fund.   #startupnews #startups

What's happening this week in hashtag #climatetech ? Check out the updates below 👇 and let us know what else is going on in the comments! #Fundraising 🥩 Prolific Machines, Inc. (San Francisco, CA) - Raised $55M in Series B funding for its cultured meat technology, with investments from Breakthrough Energy Ventures, Darco Capital, Fonterra The Ki Tua Fund, In-Q-Tel (IQT), and others. ⚡ Qargo TMS (London, England) - Raised $13M in Series A funding from Balderton Capital to develop its fleet management software platform. 🔋 SiTration, Inc. (Cambridge, MA) - Secured $12M in Seed funding for its next-gen materials extraction technology. Investors include 2150, Azolla Ventures, BHP Ventures, Extantia Capital, Orion Industrial Ventures, and The E14 Fund. ☔Mitiga Solutions (Barcelona, Spain) - Raised $8.7M in Series A funding for its climate risk and resilience platform from Creas Impacto, Elaia, and Kibo Ventures. 📦 Dealt (Paris, France) - Secured $6.5M in Series A funding for its circular economy SaaS platform, backed by GO CAPITAL, Holnest, La Poste Ventures, and One Green. 🌾 IntelliCulture (Kitchener, Canada) - Secured $3.5M in Seed funding for its farm management software platform from Emmertech, Serra Ventures, LLC, and Tall Grass Ventures. ⚡ Aymium (Gwinn, MI) - Secured $210M in Project Finance funding for its biocarbon and biohydrogen production from Copenhagen Infrastructure Partners, ECP (Energy Capital Partners) ForeStar, Hokuriku Electric Power Company, Japan Green Investment Corporation for Carbon Neutrality, and Nippon Steel Trading. 🛵 Gogoro (Taoyuan, Taiwan) - Secured $50M in Post-IPO equity funding for its electric scooters and battery swapping platform from Sino Gold Assets Limited. #PolicyUpdates 🌍 Europe's Power Markets - Experiencing frequent negative electricity prices due to an oversupply from productive solar and wind sources. This trend of power price cannibalization raises concerns among investors about the sustainability of renewable power development in the $800bn market. 🇬🇧 UK Carbon Credits - Traders placed heavy bets on a rise in UK carbon credit prices, anticipating stricter climate policies from a potential incoming Labour government. The benchmark price for UK carbon allowances has increased by 9% since the election was called. 🇺🇸 US DOE Fusion Research - The Office of Fusion Energy Sciences at the US DOE intensified its support for fusion research with an additional $180M in funding, aiming to accelerate advancements in fusion energy technologies. Let's celebrate these achievements and continue pushing the boundaries of innovation and sustainability! Special thanks to Sightline Climate (CTVC) for providing the deal info! #CleanTech #Sustainability #Innovation #Fundraising

ZCC has joined Cleantech for UK! https://lnkd.in/egHkjdj2 Cleantech for UK is a coalition of investors and company builders, initiated by the Cleantech Group and supported by Breakthrough Energy . The coalition is facilitated by Sarah Mackintosh with the goal of advocating to government to pave the way for cleantech startups and investment in the UK. We face a once in a generation opportunity to transition our industries and systems to low emissions alternatives. ZCC’s work is to back scientific entrepreneurs building the products of tomorrow, but there is a lot work to be done across society in order for reach our 2050 goals and create a world where humans can thrive on a healthy planet. Government has a vital role to play in this through funding, policy, regulation, and leadership. And we particularly need a pro-active government given the urgency of the climate crisis and the speed with which new technologies need to be deployed and scaled. ClimateTech is more than investing in startups; it’s a global transition. We want to support wherever we can and are happy to be part of the Cleantech for UK coalition.

This week marks a significant milestone in the joint actions carried out by BNP Paribas and the Solar Impulse Foundation to support the ecological transition. Created in 2021 to drive the growth of young and innovative clean-teach solutions, the BNP Paribas Solar Impulse Venture Fund has successfully raised its minimum target size of €150 million. This fund has already invested in five promising startups, including: 👉NatureMetrics: A British startup developing solutions for measuring and monitoring biodiversity using environmental DNA samples. 👉 Phenix: A French startup fighting against food waste. 👉 Axioma Inc. : A French company providing bio-solutions to mitigate hydric stress in plants and accelerate the agricultural transition. 👉 Hello Watt : A French company offering a one-stop shop for energy renovation, making it simpler, more efficient, and accessible for homeowners. 👉 Chemix, Inc. : A US-based tech company using AI to develop breakthrough EV battery technologies. Together with the Solar Impulse Fondation, BNP Paribas will continue to support game-changing companies that are making a positive impact on the environment. BNP Paribas Asset Management

Great to be featured in SeedLegals article on green innovation investment, which highlights the Clean Growth Fund's (CGF) continued support for measurable.energy. Their confidence in our mission to eliminate plug power waste, slash energy costs, and reduce CO2 emissions in commercial buildings fuels our drive to lead the charge in sustainability and energy efficiency. Curious about the growing importance of ESG investing and how measurable.energy makes an impact? Read the full article to learn more! ➡️ https://lnkd.in/eXKsjHTd #Sustainability #EnergyEfficiency #ESG #ImpactInvesting #CleanGrowthFund

Water treatment technology firm H2O Innovation Inc. has launched a venture capital fund with Montreal-based climate-tech investor Cycle Capital to provide $30 million for innovators in healthier, sustainable water use. The founding of the Cycle H2O Fund by a company is “very unusual” and “very innovative” in Canada, H2O Innovation’s president and CEO Frederic Dugre told Sustainable Biz Canada. Such a model is seen more commonly in Europe or in the pharmaceutical industry, he added. “I think it validates entrepreneurial projects in a way more efficient way,” Dugre said. “We can rapidly say, ‘well, that makes sense. This product or this technology will service specific needs.’ So this kind of validation is probably the best due diligence other investors could have. It’s a way to mitigate risks from an investment perspective.” #sustainability #investment #water https://lnkd.in/erZehU9k

🌍 🌳 Last week was eventful and prosperous for many climate tech companies in terms of funding.  Key sectors that secured funding include energy transition, decarbonization, sustainable food value chains, the circular economy, and more. Here’s the Climate Insider’s weekly report on funding: 👉 Minister Jonathan Wilkinson has announced $11 million in funding for Canadian energy technology projects.  👉 Seaya closed Seaya Andromeda, Southern Europe’s first Article 9 climate-tech fund, at €300 million.  👉 Polestar Capital successfully closed its Circular Debt Fund at €240 million.  👉 Tall Grass Ventures (TGV) announced the successful close of its inaugural fund at $32 million. 👉 Group14 Technologies has secured a $300 million deal with German battery cell company CustomCells . 👉 Libattion has secured €14 million in funding led by A&G Energy Transition Tech Fund, with contributions from Teknia and others. 👉 Carbon Equity closed its third fund at €60 million. 👉 Aether Fuels announced that it has raised $34 million in a Series A financing round, led by AP Ventures. 👉 A $30 billion fund has been launched by the United Arab Emirates with the declared goal of funnelling billions of dollars into climate finance.  👉 UNCAGED Innovations has raised $5.6 million in a Seed investment round, co-led by Green Circle Foodtech Ventures and Fall Line Capital. 👉 Invesco Ltd. announced the launch of the Invesco MSCI Global Climate 500 ETF (KLMT), with a $1.6 billion investment by Finnish pension insurer Varma.  👉 Miami’s ‘climate tech hub’ receives $19.5 million from federal funds, with a focus on reinforcing the coast. 👉 The European Union recently approved Swedish state aid amounting to 3 billion euros. 👉 Adani Group is reportedly planning a $9 billion investment in manufacturing and transportation infrastructure for the first phase of its green hydrogen venture. 👉 IBISA NETWORK has recently raised $3 million to advance its growth initiatives across Africa and Asia. This funding round was led by the Acumen Resilient Agriculture Fund (ARAF) and Equator. 👉 The York Region (The Regional Municipality of York) is receiving a federal investment of $76 million to help build an electric bus fleet and achieve net zero emissions by 2050.  👉 Polystyvert has secured $16 million to revolutionize polystyrene recycling. Infinity Recycling led the round, followed by SWEN Blue Ocean, and Earth Foundry, an existing shareholder.  👉 KC8 Capture Technologies has raised $10 million. The startup received backing from local energy giant Woodside Energy and the venture capital arm of Mexican cement producer Cemex, among others. #ClimateTech #Funding #CarbonManagement #DataAnalytics #ClimateRisk #ClimateTechFunding #ClimateTechInvestment #ClimateInvestment #ClimateAction #ClimateChange #StartupFunding