OGCI Climate Investments adds CL-Invest to its Investment Portfolio providing the necessary driving force for the acceleration of our mission to achieve immediate climate action. This transaction is OGCI CI’s 30th new portfolio investment in cutting-edge technologies, platforms, and projects within its Catalyst Fund I.
Today the Oil and Gas Climate Initiative Climate Investments (OGCI-CI), a specialist investor focused on capital-efficient decarbonization solutions, invests in CL-Invest AS marking the start of our partnership in accelerating action towards a net zero future.
OGCI Climate Investments was formed by the Oil & Gas Climate Initiative consisting of 12 oil & gas majors – Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies – that account for around 30% of global operated production. Among its investment activities, CI manages a $1bn+ Catalyst Fund I, and it is an investor in China Climate Investments.
Both funds invest in solutions to decarbonize GHG-intensive sectors within energy, industry, built environments/buildings and transportation, that have historically attracted low capital investment for decarbonization. Climate Investments targets solutions that deliver near-term GHG impact in three areas: reducing methane, reducing carbon dioxide emissions and recycling or storing carbon dioxide.
The investment in CL-Invest is a key component in our strategy to scale-up CL-Invest and our operations within the energy sector in emerging economies to reduce global greenhouse gas emissions.
“We are very excited to earn the trust of such an established decarbonization investor as Climate Investments,” Arne Peder Blix, the CEO of CL-Invest said. “We see significant alignment between the strategies and goals of both firms, and we very much look forward to have CI support us on our bold mission: immediate climate action through elimination of financial barriers.”
This transaction brings the total number of CI’s Catalyst Fund I investments in cutting-edge technologies and projects to 30, with 10 of them in solutions to reduce methane emissions, which now includes CL-Invest. The partnership allows us to expand our operations, particularly in the Middle East, Central Asia and Africa, which continue to be the focus regions of CL-Invest's emission reduction activities.
CL-Invest new strategic partners, OGCI Climate Investments, is an independently managed investor focused on capital-efficient decarbonization solutions. The firm seeks to accelerate greenhouse gas (GHG) reduction at scale by working closely with OGCI members, governments, customers and co-investors to maximize the global implementation of low-carbon solutions and impact. CI provides capital across the business lifecycle from the catalytic phase of technology and commercial validation through to scaling our investments’ sector and geographic coverage.
“This transaction marks a significant expansion of CI’s financing of commercial methane mitigation activity,” CI’s Managing Director, Project Capital, James Mackey said. “CL-Invest drives on-the-ground development of projects in regions with high emissions. It joins our diverse portfolio of methane investments, further supporting CI’s holistic approach to decarbonization. Several of our investees find leaks cost-efficiently, and CL-Invest is among the companies helping emitters fix those leaks.”
With this investment we are rapidly accelerating the CL-Invest scale-up and are looking for the right talents to join our mission and take advantage of this exceptional opportunity to to be directly involved in decarbonization of the sector involving engagement with key sector players. Find out more about our opportunities on our website and reach out if you fit the challenge.