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Energize Capital raises $300 million growth equity platform as market for climate software matures to new level of scale
Firm surpasses $1.2 billion in assets under management; changes name to Energize Capital to reflect go-forward investment strategy
CHICAGO, July 27, 2023 /PRNewswire/ — Energize Capital (formerly Energize Ventures), a leading climate software investor, today announced the close of its second growth fund, bringing the firm’s total capital commitments for its growth equity platform to $300 million. This close brings Energize’s assets under management to $1.2 billion, surpassing $860 million in total committed capital from LPs. To reflect this extension of strategy into growth equity and to position itself for future growth, the firm has changed its name to Energize Capital. Under the expanded strategy, the investment firm will continue to support enduring climate software businesses as they scale amidst significant economic tailwinds.
The official close of Energize’s growth platform comes at a time when growth capital is in high demand – especially for the climate market. According to CTVC data, more than 2,000 early-stage[1] climate companies received institutional funding in the last 24 months. If even just 10% of those companies reach the growth stage, that means roughly 200 climate companies will be looking to raise growth capital in the next 24 months – but growth capital providers are in short supply. According to Pitchbook[2], the demand-supply ratio of late-stage funding is at a decade high, with just $1 of funding available for every $3.24 demanded.
“As the market for climate software matures and companies grow into billion-dollar valuations, growth equity investors have access to an abundant pipeline of enduring businesses in climate for the first time,” said John Tough, managing partner of Energize Capital. “At Energize, we intend to be the go-to partner for entrepreneurs as they scale – from venture capital to growth equity and beyond.”
“Our belief when founding Energize was that access to Invenergy, its entrepreneurial culture, assets and people create a strategic advantage for an investment platform in the rapidly scaling energy transition space,” said Michael Polsky, chair of Energize’s investment committee and CEO of Invenergy, the leading sustainable energy and infrastructure developer and an anchor investor in Energize. “The expansion of Energize’s strategy validates this approach, and we look forward to continued partnership in this next phase of growth.”
Energize’s expertise is scaling asset-light digital climate solutions that enable the new energy economy. With its new growth equity strategy, Energize can continue providing capital and operational support to enduring late-stage climate software companies. To date, Energize has made seven investments out of its growth funds, including a recently announced investment in PVcase’s $100 million round, as well as follow-on investments in its venture capital portfolio companies Sitetracker, DroneDeploy, and Aurora Solar, which is one of the most valuable climate software companies today.
“When Energize was founded in 2016, our guiding thesis was that the transition to a sustainable economy represents a generational transfer of capital, and that it would require digital technologies to enable and accelerate scale,” said Tough. “Seven years later, our ambition remains unchanged, but the opportunity for climate software has skyrocketed beyond expectations. For example, our portfolio’s software revenue has grown from $100 million to nearly $400 million over the past three years. Unveiling our growth strategy and announcing the shift to Energize Capital represents our commitment to scale our strategy to grow with our entrepreneurs and the maturity of the space.”
Across its four funds spanning venture capital and growth equity, Energize is backed by a diverse set of LPs representing strategic, institutional, impact and family office investors. In addition to Invenergy, Energize LPs include CDPQ, CAPROCK, Credit Suisse, HASI, Xcel Energy, and other institutional capital providers.
To date, Energize has invested in 26 climate software companies accelerating the transition to sustainable energy through its venture capital and growth equity strategies. Energize closed its first $165 million venture fund in 2018, followed by a $330 million vehicle in 2021. In 2022, the firm added 12 new team members and deployed $260 million across its portfolio.
About Energize Capital
Energize Capital is a leading climate software investor focused on scaling sustainable innovation. Founded in 2016 and based in Chicago, to date Energize has funded 26 companies and deployed more than half a billion through its venture capital and growth equity strategies. Anchored by founding partner Invenergy, the firm is backed by strategic, institutional, and impact LPs including CDPQ, Credit Suisse, SE Ventures (corporate venture arm of Schneider Electric), GE Renewable Energy, Xcel Energy, Caterpillar, HASI and more. For more information on Energize, please visit www.energizecap.com.
Media Contact
Kelly Lassing, Head of Marketing & Communications
[email protected]
[1] Seed through Series B
[2] Pitchbook-NVCA Venture Monitor Q1 2023
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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