Insights

Lithios raises $12mm led by Clean Energy Ventures to expand lithium supply

DETAILS

- Lithios has secured $12 million to expand lithium supply and meet global electric vehicle and energy demand. - The company's Advanced Lithium Extraction technology enables extraction of over 85% of untapped lithium with a tenfold reduction in energy use. - Lithios received $10 million in seed financing led by Clean Energy Ventures along with participation from TechEnergy Ventures, GS Futures, Lowercarbon Capital, and MassCEC. - The funding will allow Lithios to scale research and development, manufacturing, and operations while developing commercial projects to produce thousands of tons of lithium carbonate annually. - A worldwide lithium shortage is anticipated by 2025 with a need for 7 million tons of lithium carbonate by 2040, eight times the current supply. - Lithios is addressing infrastructure and processing challenges in remote locations and for high-contaminant lithium sources. - Their ALE technology provides a scalable solution for extracting lithium from low-cost brine deposits previously deemed inaccessible. - The current methods of lithium extraction are environmentally taxing and insufficient for the EV market's growing demand. - Lithios's technology is capital efficient and consumes significantly less energy than current direct lithium extraction methods. - Developed with expertise from MIT, Lithios's ALE makes recovering lithium from low-grade resources cost-effective, equalizing their value with that of high-grade sources. - Lithios aims to create a sustainable lithium extraction process to support the electrification of the world.

COMPANIES

Lithios, Clean Energy Ventures, TechEnergy Ventures, GS Futures, Lowercarbon Capital, MassCEC, Silicon Valley Bank

TAGS

lithium

VALOREM Group involved in a 550M€ deal to accelerate growth and development

DETAILS

- The VALOREM Group, an independent renewable energy operator, received a firm offer on October 5th 2024 to raise €200 million from a consortium including AIP Management and IDIA. - GSO and IRDI reaffirm their support for the deal, with Bpifrance participating through its France Investissement Energie Environnement 2 fund. - 3i Infrastructure plans to sell its stake in VALOREM after eight years of investment. - VALOREM has increased its installed capacity fivefold and anticipates producing 1.5 TWh in 2024. - The Group has expanded its international presence, with a project portfolio totaling 6.6 GW. - The partnership between VALOREM and AIP began in 2022 with financing for the Maatkusaari wind farm in Finland. - AIP has a strategy of investing in strong market fundamentals and well-positioned companies in the renewable energy sector. - IDIA, a Crédit Agricole Group private equity firm, joins the investment alongside CAAP Energies, reinforcing their historical ties with VALOREM. - Bpifrance renews support as a shareholder and investor through its dedicated fund for ecological and energy transition. - Historical local shareholders, including Grand Sud-Ouest Capital and Crédit Agricole Aquitaine Expansion, continue to support VALOREM’s management and local commitments. - VALOREM's founders, their families, and employees will retain the majority of the Group's capital and voting rights. - The transaction completion is subject to a consultation procedure and regulatory approvals, anticipated in the first quarter of 2025. - VALOREM expresses gratitude to employees and advisors for their contributions to the successful deal. - AIP aims to support VALOREM's ambitious expansion plans within the renewable energy sector. - VALOREM commits to remaining one of the last independent French Independent Power Producers in the market. - VALOREM celebrates its 30th anniversary as a pioneer in the green energy sector. - Founded in 1994, VALOREM specializes in renewable energy management and operates across multiple countries, employing nearly 500 people. - AIP Management focuses on investments that facilitate the energy transition across Europe and North America. - IDIA provides long-term support for companies in the energy transition, contributing to a low-carbon economy. - Bpifrance supports entrepreneurial development through a range of financial products and assistance programs. - The France Investissement Energie Environnement 2 fund supports players in France’s energy and environmental transition sectors.

COMPANIES

VALOREM Group, AIP Management, IDIA, GSO, IRDI, Bpifrance, 3i Infrastructure, Crédit Agricole Group, CAAP Energies, Grand Sud-Ouest Capital, Crédit Agricole Aquitaine Expansion, ASTRIS, BNPPARIBAS, LAZARD, CLIFFORD CHANCE, PWC AVOCATS, AUGUST&DEBOUZY, KPMG, WATSON FARLEY, MARSH, EVEROZE, AURORA, DROOMS

TAGS

Fundraising

GeoPura closes £22 million in debt funding to expand hydrogen generator fleet

DETAILS

- GeoPura has successfully completed a £22 million debt funding round, marking a significant milestone in the UK's green hydrogen sector. - This represents the first major asset-backed debt funding announcement for a green hydrogen business in the UK. - The funds were secured from a consortium of financial partners, including BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK, and Siemens Financial Services. - The funding will facilitate the manufacture and deployment of over 3,600 hydrogen power units by 2033. - This announcement follows a £56 million investment round in February 2024 and a £36 million Series A round in February 2023, bringing total capital raised to £114 million over two years. - The debt funding consists of fixed-rate asset loans and hire purchase agreements, with partners expressing strong interest in increasing their funding capacity as GeoPura expands. - GeoPura's CFO, Derek Bulmer, highlighted the funding as pivotal for scaling their fleet of hydrogen power units, which will require over £2.5 billion in capital over the next decade. - HSBC UK’s Rachael Guest emphasized the importance of scaling new climate tech solutions as part of their net zero strategy. - Siemens Financial Services CEO Julian Hobbs noted the UK’s progress in the hydrogen value chain and how they plan to support GeoPura's development. - Eric Gandemer from BNP Paribas Leasing Solutions described their commitment to supporting low-carbon solutions and sustainable finance. - Close Brothers’ Matt Roper expressed pride in partnering with GeoPura as part of their commitment to the green agenda and new technologies. - GeoPura’s hydrogen power unit technology provides zero-emission electricity, replacing diesel generators in various applications. - The company has hubs in Sheffield, Matlock, Nottingham, and Newcastle upon Tyne, and is mass manufacturing hydrogen power units in collaboration with Siemens Energy. - GeoPura has increased its workforce significantly and is investing in green hydrogen production facilities, including HyMarnham Power. - Their technology has been successfully deployed in several high-profile projects, helping companies reduce their carbon footprint.

COMPANIES

GeoPura, BNP Paribas Leasing Solutions, Close Brothers Asset Finance, HSBC UK, Siemens Financial Services, Siemens Energy, General Motors Ventures, Barclays Sustainable Impact Capital, Swen Capital Partners, UK Infrastructure Bank, BBC, Balfour Beatty, National Grid

TAGS

Hydrogen

Frontier buyers sign world’s first river liming carbon removal deal with CarbonRun

DETAILS

- Frontier buyers will pay CarbonRun $25.4 million to remove 55,442 tons of CO₂ between 2025 and 2029. - River liming brings significant co-benefits and can reach less than $100 per ton without new technical breakthroughs. - Frontier has facilitated offtake agreements for river de-acidification carbon removal through CarbonRun's use of established river liming methods. - The initiative starts with deployments in Nova Scotia, Canada, marking the first carbon removal offtake via river liming. - River liming involves adding crushed limestone to acidified rivers to mitigate the effects of acid rain. - The practice of river liming has seen success in treating acid rain problems in Scandinavia but is in decline due to increased costs. - CarbonRun found that limestone addition enhances rivers' natural ability to capture atmospheric CO₂, converting it into bicarbonate for long-term storage in oceans. - The Frontier offtake targets pollution and climate change-affected rivers, offering carbon removal alongside ecosystem restoration benefits like salmon and shellfish population recovery. - Expanding river liming could potentially scale up carbon removal efforts significantly. - Stripe is providing an additional $1 million R&D grant to investigate river liming's effectiveness in neutral pH rivers. - CarbonRun aims to achieve a credible trajectory for costs under $100 per ton due to the widespread availability and low cost of limestone. - Lime-dosing technology is simple and can be automated, limiting operational costs. - CO₂ removal measurement is facilitated by direct chemical analysis of river water both above and below treatment points. - River liming is a well-established conservation practice that restores river ecosystems and has improved salmon populations historically. - CarbonRun's team possesses unique expertise in both river liming for carbon removal and river ecology, particularly salmon rehabilitation. - The company’s community engagement is effective, involving local and Indigenous groups in project decision-making processes. - River liming as a carbon removal strategy has been underexplored and underfunded, with this initial agreement set to enhance data collection and understanding of limestone deployment in rivers. - Frontier has facilitated purchases from various organizations, including Stripe, Alphabet, and other founding members. - Nan Ransohoff from Frontier highlights river liming as a cost-effective, measurable, and scalable solution deserving of more attention and funding. - Luke Connell from CarbonRun emphasizes the importance of this offtake for researching river liming’s capabilities across different river types for future large-scale carbon removal.

COMPANIES

Frontier, CarbonRun, Stripe, Alphabet, Shopify, McKinsey Sustainability, Autodesk, H&M Group, JPMorganChase, Workday, Salesforce, Aledade, Canva, Match Group, Samsara, SKIMS, Skyscanner, Wise, Zendesk

TAGS

Carbon Capture Utalization and Storage

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