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Dealflow: GoodFuels gets acquired, $80 million for sustainable ag, affordable housing finance in Canada

Greetings! Here’s the latest impact investing deal news.

FinCo’s acquisition of GoodFuels gives Social Impact Ventures an exit. Dutch alternative energy company GoodFuels launched five years ago to provide plant-based biofuels to the heavy transport and shipping industries. The company says its alternative fuels cut fuel-based carbon emissions by more than three-quarters. GoodFuels has been acquired by the renewables arm of FinCo Fuels Group, giving Dutch impact investor Social Impact Ventures an exit less than two years after it took an undisclosed stake in the company.

  • Acquisition. FinCo isn’t a clean fuels company – it owns Gulf, and BP-branded fuel retailer Dalhuisen. But the company is staking its long-term success on “offering its customers a portfolio of fuels with a reduced carbon footprint.” FinCo committed to reporting on GoodFuels’ established impact targets. “We believe that in FinCo, we have found the right partner to create a responsible exit and take Goodfuels and its impact to the next level,” writes Social Impact Ventures.
  • Bio-fueled. In the past two years, GoodFuels has backed Dutch shipping company Boskalis in rolling out a biofuel-powered dredging vessel and helped OCEANDIVA convert to biofuel-powered ships for corporate events. 
  • Check it out

FMO and Rabobank commit $80 million to sustainable agriculture. The AGRI3 initiative was developed by U.N. Environment Programme and Rabobank to catalyze $1 billion for investments in sustainable agriculture and forestry. Mirova Natural Capital, FOUNT and Cardano Development are advisors and IDH’s sidecar technical assistance fund will help projects get investment-ready.

Canada’s London Community Foundation adds $7 million to finance affordable housing. The London, Ontario-based community development charity is adding to its $10 million revolving loan fund for non-profit affordable housing developers.

–Jan. 29, 2020

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