ImpactAlpha’s deal news coverage for the week:
Conservation finance. Rio de Janeiro-based Tree Agroflorestal received $8 million from BNDES — the first tranche of a $31 million commitment — to restore Atlantic Forest patches with native trees, improve soil and water health, and develop carbon credits across some 37,000 acres… Octopus Energy Generation committed $500 million to reforestation projects developed by California-based Living Carbon and invested $13 million in the company’s carbon removal business.
Clean energy. Oregon-based Panthalassa raised $140 million in a Series B led by Peter Thiel for floating systems that generate power from ocean waves to run offshore AI computing. Marc Benioff’s Time Ventures, Susquehanna Sustainable Investments, Planetary VC, Chris Anderson’s Resilience Reserve and Fortescue Ventures also participated… Sandton-based Wetility, a lease-to-own rooftop solar and battery storage provider, repaid Sanlam Investments ahead of schedule on a 600 million rand debt facility from its 2023 raise… Copenhagen Infrastructure Partners acquired Ørsted’s European onshore renewable energy business and relaunched it as Perigus Energy.
Energy transition. Delhi-based Kimbal secured $22 million in a Series B led by GEF Capital Partners for advanced metering infrastructure that helps electricity distributors manage power flow and reduce grid losses… Battery Smart, also in Delhi, secured $15 million in debt from Mirova for its network of more than 1,500 battery-swapping stations serving electric motorbike and e-rickshaw drivers across India.
Industrial decarbonization. The All Aboard Coalition invested $22 million in Golden, Colo.-based Terra, bringing its Series B to $147 million to fund construction of a commercial-scale low-carbon cement plant in Cleburne, Texas… Buenos Aires-based Alkemio closed a $2 million pre-seed round for a modular rare earth refining process designed to operate directly at mine sites, cutting emissions by more than 70%. Dalus Capital, VU Venture Partners, Amplifica Capital, VX Ventures and Epic Angels participated.
Financial inclusion. Nigeria-based Sabou Capital landed an anchor commitment from the Mastercard Foundation’s Africa Growth Fund to invest in agriculture, renewable energy, supply chain and logistics in Central and West Africa… The European Bank for Reconstruction and Development provided 250 million Egyptian pounds ($4.7 million) to Fawry MSME Finance to lend to rural and underserved entrepreneurs in Egypt.Refugee investment. Lifta, based near Kenya’s Kakuma refugee camp, landed a loan from iGravity’s Refugee Investment Facility to expand water production and plastic recycling capacity in the 300,000-person displacement community.
