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Just Climate raises $1.5 billion with help from Microsoft fund
  + stars: | 2023-06-08 | by ( ) www.reuters.com   time to read: +2 min
LONDON, June 8 (Reuters) - Asset manager Just Climate said on Thursday it had raised $1.5 billion for its inaugural fund after strong demand from institutional clients including Microsoft’s Climate Innovation Fund helped it beat the original target of $1 billion. Established by Generation Investment Management, Just Climate aims to focus investment on the sectors where cutting greenhouse gas emissions is hardest to do, such as cement, shipping, industrials and land use. The firm's initial fund, Climate Assets Fund I, will focus on helping companies with proven technology scale their business to a level to attract more risk-averse investors. "Proven, transformational climate solutions are being developed to decarbonise the industrial sectors. Among other investors to back the fund include IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, California State Teachers’ Retirement System, and Colonial First State Investments.
Persons: Shaun Kingsbury, Kingsbury, Clara Barby, Simon Jessop, Lisa Shumaker Organizations: Innovation Fund, Generation Investment Management, Climate, IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, Colonial, Investments, ABB, Meva Energy, Thomson Locations: California
ABB places second block of E-Mobility shares ahead of float
  + stars: | 2023-02-01 | by ( ) www.reuters.com   time to read: +1 min
The investors will take a combined 12% stake in the E-Mobility business in the final round of private placements before its planned flotation this year, ABB said. The breakdown of the stakes taken was not given by ABB, which said the transaction represented the final placement ahead of the IPO. The company had already raised around 200 million Swiss francs from allocating an 8% stake in the business to investors. Cash raised from the two placements will be used to fund organic growth and acquisitions at E-Mobility. ($1 = 0.9155 Swiss francs)Reporting by John Revill Editing by Paul Carrel and John StonestreetOur Standards: The Thomson Reuters Trust Principles.
Supply-chain technology provider project44 has postponed plans for a possible public stock offering amid the uncertainty in markets, and instead is turning to more venture-capital investment to expand its business tracking goods through global transportation networks. Funding for supply-chain technology startups has also tapered off this year, according to analytics firm PitchBook Data Inc., as venture-capital firms have reined in deal making. Mr. McCandless said project44 can continue to expand without going to public markets over the next couple of years based on its existing investment and cash flow. PREVIEWMr. McCandless said project44 was in position to file paperwork in June for a future public stock offering. A public offering, he said, would allow more venture-capital and private-equity investors to cash out in public markets while letting the company have continuing access to capital.
Nov 3 (Reuters) - U.S.-based supply chain management technology company project44 said on Thursday it was valued at $2.7 billion after its latest funding round that also saw participation from existing investor Goldman Sachs Asset Management. The $80 million funding round was led by investment firms Generation Investment Management and A.P. Moller Holding, while buyout firm TPG (TPG.O), venture capital firm Emergence Capital and others also participated. Project44 said the funds will be used to measure and reduce emissions across its global supply chain. The COVID-19 pandemic set off a crisis in global supply chains, which has also worsened inflation and put pressure on central banks to tame price hikes.
Former U.S. Vice President Al Gore speaks at a news conference during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 5, 2021. "There is no such thing as a clean fossil fuel, just as there is no such thing as a healthy cigarette," Gore stated. "We don't want to see investments in fossil fuel infrastructure of the sort that A/ will not alleviate the short-term problem and B/ will guarantee higher emission levels for decades to come." "Mother Nature has joined the discussion about the climate crisis," Gore said, citing heatwaves in China, floods in Pakistan and drought in Europe. Gore, U.S. vice president from 1993 to 2001, became known for climate change advocacy with his 2006 Oscar-winning documentary "An Inconvenient Truth", and its 2017 sequel, arguing the climate change struggle is a moral fight.
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