ImpactAlpha, Nov. 17 – San Francisco sustainable infrastructure investment firm Climate Adaptive Infrastructure raised $825 in equity and $200 million for a co-investment program for large-scale, low-carbon clean energy, water and urban real assets.
Infrastructure investments too often flow to past needs, says CAI’s Bill Green, ex- of Macquarie. CAI, he says, invests in the “development of real assets purpose-built for the future, with the lowest feasible carbon emissions profile and designed to withstand the impacts of the climate crisis.”
Deploy, deploy, deploy
Climate Adaptive Infrastructure’s initial investments include a natural gas-fired “peaking” power plant, Sentinel Energy Center, in Riverside, Calif.
The firm also has taken controlling stakes in Oakland-based clean energy developer Intersect Power, and Boston-based hydropower developer Rye Development.
Stocking the pipeline
Climate and green infrastructure funds are riding a wave of demand for low-carbon solutions (for context, see “ImpactAlpha Deal Spotlight: Climate and green infrastructure).
Bucking the private investing downturn, carbon and emissions tech startups have raised $10.7 billion in venture capital investment across 517 deals through the third quarter, putting the category on pace to top last year’s record of $13.6 billion, according to Pitchbook.