BlackRock
Assembly Line
German renewables firm Enviria secures $200 mln Blackrock capital commitment
German commercial and industrial solar startup Enviria said it had secured a capital commitment of over $200 million from the world’s biggest asset manager, BlackRock (BLK.N), opens new tab, as the company seeks to expand its projects in Germany.
Founded in 2017, the Frankfurt-based firm offers photovoltaic systems for companies interested in switching to solar power, including financing, planning, installation, storage and operation solutions. With companies comprising around 70% of Germany’s national electricity usage, and only 10% of firms equipped with solar systems on their roofs, Enviria is betting on several hundred gigawatts of untapped renewable energy capacity.
Antora Energy Raises $150 Million to Slash Industrial Emissions and Spur U.S. Manufacturing
Antora Energy, a leader in zero-emissions industrial heat and power, raised a $150 million Series B funding round led by Decarbonization Partners, a partnership between BlackRock and Temasek. This financing round will enable Antora to ramp production of its factory-made thermal batteries to deliver billions of dollars of zero-emissions energy to industrial customers. Emerson Collective, GS Futures, The Nature Conservancy, and a subsidiary of NextEra Energy Resources, LLC also participated in this round, alongside existing investors Trust Ventures, Lowercarbon Capital, Breakthrough Energy Ventures, BHP Ventures, Overture VC, and Grok Ventures.
Antora is unlocking zero-emissions industrial energy, cheaper than fossil fuels. Antora leverages renewable electricity to heat blocks of solid carbon—a low-cost, earth-abundant, and safe storage medium that’s used extensively across industries—to glowing hot temperatures in an insulated module. The stored heat is then reliably delivered at the scale and temperatures that large industrial operations demand. Additionally, Antora’s thermal battery can output electricity at breakthrough efficiencies using Antora’s thermophotovoltaic (TPV) technology, which converts the stored heat directly into electricity without the drawbacks of a conventional heat engine.
Kairos Aerospace, Rebranding as Insight M, Raises $52 Million in Series D Funding
Kairos Aerospace, the leader in high-frequency aerial methane detection for the energy industry, announced the initial closing of its Series D funding at $52 million. The round was led by funds and accounts managed by BlackRock, with participation from Hartree Partners, as well as existing investors DCVC, Climate Investment (an investment firm backed by 12 of the largest oil and gas companies in the world), and Energy Innovation Capital. Kairos will be rebranding as Insight M to better align with its go-forward vision, a change that will officially launch later in Q1.
There is a growing demand in the oil and gas industry for Insight M’s emission solutions, which not only deliver profits to operators but also provide them with proof of environmental stewardship. Insight M uses its proprietary technology to capture methane emissions data on the assets of their customers along with the entire given oil and gas basin.
🔋 Northvolt raises $1.2 billion convertible note as first energy storage systems are produced at Northvolt Dwa
As Northvolt assembles its first battery systems at Northvolt Dwa in Poland, the company today announced the raising of $1.2 billion to finance plans for its further European and North American expansion. The funding is an extension of the $1.1 billion convertible note signed in July 2022, and has attracted investment from funds labeled dark green in accordance with Article 9 of the EU’s Sustainable Finance Disclosure Regulation (SFDR). Leading the extension are the Investment Management Corporation of Ontario (IMCO), BlackRock and Canada Pension Plan Investment Board (CPP Investments), as well as long-term financial partner OMERS, making its third major investment in the company.