Bluesphere Ventures is a venture studio specializing in incubating environmental fintech ventures. It announced to acquire Climate Carbon, a Canadian broker of carbon and renewable energy credits.
The acquisition is has the potential to reshape the industry and sustainability practices, claims the report. Bluesphere Ventures studio aims to nurture start-ups that create carbon credit and environmental offsets.
The chairman of Bluesphere, Shidan Gouran said,
“Our decision to acquire Climate Carbon was primarily driven by their unmatched market intelligence,”
“Danny Takhar, along with his team of analysts, stands out as the most informed brokerage group in the industry. As clients of Climate Carbon, we have reaped considerable benefits from Danny and his team’s proficiency in price discovery and their expertise in analyzing offset projects.”
“His deep understanding of the environmental credit sector is a significant asset, and we are thrilled to welcome him and his team.”
Climate Carbon’s principal, Danny Takhar, said,
“With Bluesphere’s resources and commitment to sustainability, I am confident we can enhance our impact.”
“This merger will propel us to new heights, enhancing carbon credit accessibility and promoting sustainability globally.”
Post-acquisition, Bluesphere Carbon Exchange will integrate with the company Climate Carbon, to be rebranded as Climate Carbon. Bluesphere confirms this to be a strategic advance in Bluesphere’s long-term strategy.
Bluesphere’s CEO, Eddie Soleymani said, “The rebranding of the Bluesphere Carbon Exchange under the Climate Carbon name reflects our commitment to integrating and leveraging the best aspects of both entities.
“This acquisition represents more than a simple merger; it’s about creating a unified platform that combines the robust technologies and market reach of both companies, thereby propelling a new era of sustainable environmental credit trading.”
The said deal is expected to close in the third quarter of 2023.
