Octopus Energy’s generation arm has announced plans to invest $20 billion (£15 billion) into offshore wind by 2030. The investment is expected to generate 12 GW of renewable electricity capacity. The company is an energy and technology group engaged in offering green energy systems. It invests in, builds, and manages renewable energy. Globally, Octopus Energy’s…
AXA IM Alts, an alternative investments company, has announced a $49 million commitment to invest in Mombak reforestation projects. Mombak is a native species carbon removal start-up. The company invested in the Mombak reforestation projects under the natural capital and impact investing strategy. This investment will support the restoration of the Amazon rainforest on pastures…
Sylvera has raised $57 million in a Series B funding round. It aims to help companies achieve their net zero goals and invest in carbon markets. Founded in 2020, Sylvera has so far made efforts to progress in bringing transparency to the carbon markets. It has also helped buyers see what to avoid and provide…
An investment holding company based in Abu Dhabi, the Multiply Group, has acquired a minority interest in Breakwater Energy for AED367 million ($100 million). This investment took place through the Group’s sector-agnostic arm, Multiply+. Due to this acquisition, the Group will partially own a highly profitable and cash-generative, diversified global upstream portfolio with significant gas…
The companies Aramco, TotalEnergies, and SABIC have worked to convert oil from plastic waste into ISCC+ certified circular polymers. The plastic pyrolysis oil, aka plastic waste-derived oil (PDO), was processed at the SATORP. Afterward, PETROKEMYA, a SABIC affiliate, used it as feedstock to create certified circular polymers. Since plastic is a hard to recycle quickly,…
Isometric, a carbon removal registry and science platform based in the U.K., has announced seed funding of $25 million. This funding round was led by – Lowercarbon Capital and Plural. The round was also participated by Lowercarbon Capital and Plural with angel investors Niklas Zennström (founder of Skype), David Helgason (founder of Unity Technologies), Ross…
ExxonMobil Corporation announced entering a definitive agreement to acquire Denbury. Denbury is a developer of carbon capture, utilization and storage (CCS) solutions and enhanced oil recovery.The acquisition is an all-stock transaction which values at $4.9 billion. Based on Exxon Mobil’s closing price on July 12, 2023, it is $89.45 per share. As per the terms…
Avnos is a Los Angles-based direct air capture company, developing a Hybrid Direct Air Capture (HDAC) technology to remove carbon. It has announced to sign a multi-year strategic and investment partnership with more than $80 million in total with its partners. The partners are ConocoPhillips, JetBlue Ventures, corporate venture capital division of JetBlue, and Shell…
FAA invests $92 million in aviation sector to accomplish net zero targets in this field by 2050. The mentioned investment is a part of a $268 million in grants. The $92 million will fund 21 airports to transition their infrastructure and facilities to meet net zero goal in time. Additionally, as part of this sustainability…
INPEX, an exploration and production company based in Japan, has announced it has agreed to purchase 50% shares of Enel Green Power Australia (EGPA). Enel Green Power Australia is a subsidiary of the Italian utility company Enel S.p.A., aka (Enel). Enel S.p.A. is divided into two entities. These entities, Enel Green Power Australia Pty Ltd…